This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Owens & Minor Releases 1st Quarter 2012 Financial Results

Owens & Minor, Inc. (NYSE:OMI) today reported financial results for the first quarter ended March 31, 2012, including quarterly revenue of $2.22 billion, an increase of 4.4%, when compared to revenue of $2.12 billion in the first quarter of last year. For the first quarter of 2012, net income was $29.4 million, or $0.46 per diluted share, compared to $28.7 million, or $0.45 per diluted share, for the same period last year.

“During the first quarter of 2012, we saw solid revenue growth and strong improvement in asset management and cash flows,” said Craig R. Smith, president & chief executive officer of Owens & Minor. “Looking to the year ahead, our priorities include optimization of our large new account relationships, continued expense control, cash generation and achievement of milestones in our strategic initiatives.”

Operating earnings for the first quarter of 2012 were $51.9 million, or 2.34% of revenues, increased 1.7% when compared to operating earnings of $51.0 million, or 2.40% of revenues, in the same period of 2011. The increase resulted primarily from a $3.6 million increase in gross margin, offset by additional expenses necessary to serve business growth.

Asset Management

The balance of cash and cash equivalents was $214 million at March 31, 2012, increased by $78 million from $136 million at December 31, 2011. For the first quarter of 2012, the company reported cash provided by operating activities of approximately $102 million compared to $45 million for the same period last year. Asset management metrics were strong with days sales outstanding (DSO) of 19.9 as of March 31, 2012, improved when compared to 21.1 days as of March 31, 2011. Inventory turns were 10.5, compared to inventory turns of 10.7 for the same period last year, and improved sequentially from turns of 10.0 for the fourth quarter of 2011, as the company worked successfully to decrease levels of inventory previously built to accommodate conversions of large new customer accounts during the fourth quarter of 2011 and the first quarter of 2012.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs