Hill-Rom Reports First Quarter Revenue Growth of 3.0 Percent to $352 Million and Earnings Per Fully Diluted Share From Continuing Operations of $0.23, an Increase of 15.0 Percent From the ... ( BATESVILLE Ind. Feb. 4 /- Hill-Ro...)

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Hill-Rom Reports First Quarter Revenue Growth of 3.0 Percent to $352 Million and Earnings Per Fully Diluted Share From Continuing Operations of $0.23, an Increase of 15.0 Percent From the Prior Year

Date:2/4/2009

BATESVILLE, Ind., Feb. 4 /PRNewswire-FirstCall/ -- Hill-Rom Holdings, Inc. (NYSE: HRC), announced unaudited financial results for its fiscal first quarter ended December 31, 2008. Results included revenue of $351.6 million, a $10.2 million or 3.0 percent increase from $341.4 million in the prior year comparable period. On a constant currency basis, revenue increased 5.9 percent. Net income from continuing operations was $14.2 million, or $0.23 per fully diluted share--an increase of 15.0 percent. Adjusted earnings per fully diluted share from continuing operations were $0.25, an increase of 13.6 percent from the prior year. Adjustments experienced in the current year include the effects of lower Liko margins associated with the valuation of acquired inventories and Liko integration costs. Adjustments in the prior year include costs associated with the planned spin-off of the funeral services business and special charges. Unless otherwise indicated, amounts in the current quarter include the results of Liko, acquired on October 1, 2008.

Management Comments

"As we reported last month, U.S. hospital customers made significant and rapid reductions of capital spending during the last half of the quarter on a wide variety of medical technologies, including ours. Because of our diverse portfolio, rental alternatives, the relative strength of our international business and the acquisition of Liko, we were better able to weather the storm in the first quarter," commented Peter H. Soderberg, president and CEO of Hill-Rom. "As we look forward, we believe U.S. hospitals will continue to reduce or postpone capital purchases as they respond to the effects of the economy on their operations; further, we anticipate that during the second half of the year we might begin to see signs in Europe of softening capital expend
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Hill-Rom Reports First Quarter Revenue Growth of 3.0 Percent to $352 Million and Earnings Per Fully Diluted Share From Continuing Operations of $0.23, an Increase of 15.0 Percent From the ...( BATESVILLE Ind. Feb. 4 /- Hill-Ro...),Health