Hillenbrand Industries (HB) , a provider of products and services for the health care and funeral services, swung to profit in its fourth quarter, as the year-ago period included litigation charges.
The Batesville, Ind.-based company posted a profit of $67.3 million, or $1.09 a share, compared with a loss of $229.7 million, or $3.75 a share, a year ago. Adjusted for items, earnings from continuing operations were $1.12 a share in the quarter, up from 81 cents a share a year ago. Analysts polled by Thomson First Call were expecting earnings of 90 cents a share.
Third-quarter revenue rose 4.8% from a year-ago period to $520.5 million as against analysts' estimate of $503 million.
The company reaffirmed its earnings forecast for the full year 2007 of $2.80 a share to $3.10 a share, including antitrust litigation expenses of 22 cents a share. The company expects revenue of $2.04 to $2.11 billion in 2007. Analysts expect the company to earn $3.21 a share for the full year, on revenue of $2.02 billion.
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