Steris Earnings Flat

It bests analysts' estimates.
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Steris

(STE) - Get Report

, a developer of infection-prevention and contamination-control products, said earnings for its second quarter were flat from a year ago.

The Mentor, Ohio-based company earned $16.4 million, or 25 cents a share, in the quarter, compared with $16.4 million, or 24 cents a share, a year ago. Results included stock option expenses and costs related to shifting its manufacturing operations to Mexico, which hurt earnings by 6 cents a share. Analysts polled by Thomson First Call were expecting earnings of 21 cents in the latest quarter.

Second-quarter revenue rose 3.7% from a year ago to $283.5 million driven by growth in all three segments, particularly life sciences. Analysts expected revenue of $283.4 million.

The company expects earnings of $1.10 to $1.20 a share, including stock option expense and costs related to shifting manufacturing operations to Mexico, for the full year. Analysts are expecting earnings of $1.16 a share.

''We are very pleased to announce clearance by the United States Environmental Protection Agency (EPA) of a label extension permitting the expanded application of our proprietary vaporized hydrogen peroxide system to combat emerging decontamination needs in traditional and new markets. As we look ahead to the second half of the year, we will be making additional investments to market these products, but we believe we can absorb those expenses and still deliver our anticipated bottom-line performance," the company said.

By segment, second-quarter revenue from health care rose 2% from a year ago to $197.1 million, from life sciences it rose 12% to $53 million and from isomedix services it rose 5% to $33.5 million.

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