Hill-Rom Reports Third Quarter Financi...(ted to performance issues on a discontin...),Health

Date:8/6/2009

ted to performance issues on a discontinued product. Our operating expenses, exclusive of Liko, actually declined by $18 million or 13.1 percent thanks to the previously announced structural changes we have made, continued stringent internal cost controls and foreign exchange movements."

Soderberg concluded, "While we cannot predict the timing of when hospitals and other providers around the world will return to more normalized capital acquisition behavior, we are using this recessionary period, and the mandate we undertook when we affected the spin some five quarters ago, to prepare the company for strong and profitable growth once demand for our products--key tools in delivering safer and more efficient healthcare--inevitably returns. Based on the strength of our earnings performance during the quarter, we are also increasing our earnings guidance for this fiscal year."

Other third quarter revenue highlights regarding Hill-Rom business segments include:

-- North America Acute Care. Hill-Rom North America Acute Care revenue declined $30.8 million, or 14.0 percent, to $189.1 million. Capital sales decreased 20.1 percent, or $31.8 million, consistent with the outlook we provided in January contemplating a 15-30 percent decline in our hospital capital sales. Rental revenue increased by $1.0 million, or 1.6 percent, driven by mid-single-digit growth of therapy rental products.

-- International and Surgical. Hill-Rom International and Surgical capital and rental revenue decreased $1.9 million, or 1.9 percent, to $95.7 million. On a constant currency basis revenue growth was 7.9 percent as sales from the Liko acquisition were partially offset by volume declines in select European and rest of world countries as a result of softening in capital spending. Capital sales were essentially flat while rental revenue declined by $1.6 million.

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SOURCE Hill-Rom Holdings, Inc. Copyright©2009 PR Newswire. All rights reserved

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