Hill-Rom Holdings, Inc. (
30th Annual JP Morgan Healthcare Conference
January 12, 2012 10:30 am ET
John J. Greisch – President and Chief Executive Officer
Good morning and welcome to day four of the JP Morgan Healthcare Conference. I’m Kim Galen with the Medtech team. Presenting next, we have Hill-Rom, and it’s my pleasure to introduce CEO John Greisch. Before I turn it over to John, though, I want to mention two things. (Operator Instructions) Thanks. John.
Thanks, Kim. Good morning, everybody. I appreciate you joining us bright and early here on the last day of the conference. Before I get into the presentation, just to remind everybody, we may be covering non-GAAP information and I’d like to refer you to our SEC filings for any reconciliation required.
Let me just start with a quick run-through of the preannouncement we made a couple days ago, which I’m sure many of you saw. Our first quarter results expect to be reported in about a week and a half with revenue of approximately $381 million, a constant currency growth of 2%. This compares to four to five of our original guidance, and I’ll talk to our updated guidance here in a minute.
You may recall on our fourth quarter earnings call, we did comment that the comps would be tougher in the first half and get more favorable in the second half, so revenue growth was disappointing in the first quarter slightly, but not too far off of our expectation. As you can see here, our largest business unit—our North American Acute Care business—had 7% growth. The core business of that segment for us, our patient support systems, which is our core bedframe and surface product category, grew 13%.