On March 31, 2008, Hill-Rom completed the spin-off of its funeral services business operating under the Batesville Casket name. Accordingly, the results of operations of the funeral services business, including certain separation related costs and other income and expenses assigned to the funeral services business, have been presented as discontinued operations for all periods presented in the Condensed Consolidated Statements of Income.
Peter H. Soderberg, president and CEO of Hill-Rom, commented, "Our performance this quarter reflects a strong finish to an important transitional year. Our selective investments in research and development, enhanced sales channels, and manufacturing efficiency are continuing to yield results across the care continuum and around the world. In spite of more pronounced inflationary pressures during the quarter, we saw 190 basis points of gross margin improvement in the year-over-year quarterly period, primarily due to improved rental margins."
"We anticipate that fiscal year 2009 will bring heightened economic challenges to our customers. While we have not yet experienced moderating customer demand as evidenced by our strong fourth quarter revenue, earnings, and backlog positions, our organic revenue expectations for 2009 reflect a decidedly more cautious outlook. While this lack of certainty is unsettling, Hill-Rom's compelling technology offerings and disciplined expense control should help mitigate the impact of economic headwinds," Soderberg continued.
"Our North America Acute Care segment revenue grew nearl
|SOURCE Hill-Rom Holdings, Inc.|
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