Navigation Links
Hillenbrand Expects to Report Second-Quarter Net Revenue of $170.8 Million and Revises 2009 Guidance
Date:4/9/2009

- Decreased industry-wide demand drove reduced Q2 revenues, which results in 6 percent lower full-year revenue guidance.

- Cost reductions, including lower litigation expenses, yield a 2 percent increase in diluted earnings per share compared to previous guidance.

BATESVILLE, Ind., April 9 /PRNewswire-FirstCall/ -- Hillenbrand, Inc. (NYSE: HI) is revising its 2009 guidance, based on lower-than-expected revenue of $170.8 million during its second fiscal quarter. For the full 2009 fiscal year, the company expects revenues to range from $650 million to $670 million, a reduction of approximately 6 percent from previous revenue guidance. In addition, GAAP diluted earnings per share have been adjusted upward to a range of $1.57 to $1.70, reflecting an increase of approximately 2 percent from prior guidance.

"Our business is dependent on the seasonal effects on burials, and the decline we've seen is consistent with public reports from our customers and competitors," said Kenneth A. Camp, president and chief executive officer of Hillenbrand, Inc. "We will manage successfully through this downturn and are taking decisive actions to ensure our long-term market presence and to manage costs without decreasing service to our customers or reducing future growth investments."

Lower revenues in the second quarter are the result of an industry-wide decrease in demand for caskets. The largest driver of decreased demand is the very mild pneumonia and influenza season, especially compared to the prior year when the flu surpassed epidemic levels throughout much of the country. The company believes it has experienced an increased level of competition during the second fiscal quarter as competitors are similarly affected by the reduced demand.

Two other key factors are expected to have a positive effect on expenses during the remainder of the fiscal year. Prices for diesel fuel have been below the levels experienced in the previous year, and the company has recently negotiated more favorable contracts on steel and selected other commodities. In addition, litigation costs for the remainder of fiscal 2009 are expected to decline to $7 million from our previous estimate of $18.5 million because of recent court rulings in its class-action litigation. The litigation cost estimate is dependent on the potential for an appeal by the plaintiffs.

Conference Call and Webcast

Hillenbrand will report its second-quarter earnings on May 11, 2009, and will provide further details and perspectives on fiscal 2009 at that time. The conference call and webcast will take place at 11 a.m. ET Monday, May 11, 2009. The webcast will be available at http://ir.hillenbrandinc.com and will be archived on the company's Web site through May 10, 2010, for those unable to listen to the live webcast.

Participants may listen to the conference call by dialing 1-877-718-5092 (1-719-325-4807 for international callers). A replay of the call will be available through midnight Monday, May 25, 2009, at 1-888-203-1112 (1-719-457-0820 for international callers). Please use the confirmation code 7352147.

Outlook for Fiscal Year 2009

The company is adjusting its fiscal 2009 full-year guidance as follows:

  • Revenues in the range of $650 million to $670 million, compared to prior guidance of $695 million to $710 million.
  • GAAP diluted earnings per share for the year of $1.57 to $1.70, compared to prior guidance of $1.54 to $1.66. This includes the pre-tax reduction in antitrust expenses of $11.5 million resulting from favorable proceedings in the antitrust litigation.
  • Estimated diluted earnings per share, excluding certain non-operating costs (primarily antitrust litigation expenses), for the year are $1.65 to $1.78.

    Hillenbrand, Inc.
    (amounts in millions, except per share data)

                                   Fiscal year ending September 30
                                              FY 09 Range
                                 FY 08       Low       High

    Net revenues                  $678       $650      $670
    Income before taxes           $153       $152      $162
    Tax rate                      39.2%      36.4%     35.4%
    Net income                     $93        $97      $105
    Average diluted shares
     outstanding                    63         61        61
    Diluted net income per
     share                       $1.49      $1.57     $1.70


    Excluding certain
     non-operating costs
      (antitrust litigation and
        separation*)
       Net income                 $108       $101      $109
       Diluted net income per
        share                    $1.73      $1.65     $1.78



*Non-GAAP Financial Disclosures and Reconciliations for Fiscal Year 2009

While Hillenbrand, Inc. reports financial results in accordance with U.S. GAAP, this press release includes non-GAAP measures. These non-GAAP measures are not in accordance with, nor are they a substitute for, GAAP measures. Hillenbrand uses the non-GAAP measures to evaluate and manage its operations and provides the information to investors so they can see the results "through the eyes" of management. Hillenbrand further believes that providing this information better enables investors to understand the ongoing operating performance of the company. Investors should consider non-GAAP measures in addition to, not as a substitute for, or as superior to, measures of financial performance prepared in accordance with GAAP.

    Hillenbrand, Inc.
    (amounts in millions)
                                12 Months Ended          Fiscal Year 2009
                               September 30, 2008       Guidance Midpoint
                            Pre-   Income  Post-Tax   Pre-   Income  Post-Tax
                            Tax    Taxes              Tax    Taxes

    GAAP income            $153.3   $60.1    $93.2   $156.9   $56.3    $100.6

    Certain
    non-operating costs:
      Antitrust litigation    3.3     1.2      2.1      7.0     2.6       4.4
      Separation             15.6     2.6     13.0      0.2     0.1       0.1

    Adjusted income        $172.2   $63.9   $108.3   $164.1   $59.0    $105.1


Disclosure Regarding Forward-Looking Statements

Throughout this release, we make a number of "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. As the words imply, "forward-looking statements" are statements about the future, as contrasted with historical information. Our forward-looking statements are based on assumptions that we believe are reasonable, but by their very nature they are subject to a wide range of risks.

Words that could indicate we're making forward-looking statements include the following:

     Intend      believe    plan          expect    may        goal
     Become      pursue     estimate      will      forecast   continue
     Targeted    increase   higher/lower  improve   progress   potential

This isn't an exhaustive list, but is simply intended to give you an idea of how we try to identify "forward-looking statements." The absence of any of these words, however, does not mean that the statement is not "forward-looking."

Here's the key point: Forward-looking statements are not guarantees of future performance, and our actual results could differ materially from those set forth in any forward-looking statements. Any number of factors -- many of which are beyond our control -- could cause our performance to differ significantly from those described in the forward-looking statements. These factors include, but are not limited to: the company's ongoing antitrust litigation; the company's dependence on its relationships with several large national providers; continued fluctuations in mortality rates and increased cremations; ongoing involvement in claims, lawsuits and governmental proceedings related to operations; failure of the company's announced strategic initiatives to achieve expected growth, efficiencies or cost reductions; failure of the company to execute its acquisition and business alliance strategy through the consummation and successful integration of acquisitions or entry into joint ventures or other business alliances; competition from nontraditional sources in the funeral services business; volatility of the company's investment portfolio; increased costs or unavailability of raw materials; labor disruptions; the ability to retain executive officers and other key personnel; and certain tax-related matters. For a more in-depth discussion of these and other factors that could cause actual results to differ from those contained in forward-looking statements, see the discussions under the heading "Risk Factors" in item 1A of the company's Annual Report on Form 10-K for the year ended Sept. 30, 2008, filed Dec. 9, 2008. The company assumes no obligation to update or revise any forward-looking information.

About Hillenbrand, Inc.

Hillenbrand, Inc. (www.HillenbrandInc.com) is the holding company for Batesville Casket Company, a leader in the North American death care industry through the sale of funeral services products, including burial caskets, cremation caskets, containers and urns, selection room display fixturing, and other personalization and memorialization products. HI-INC-F


'/>"/>
SOURCE Hillenbrand, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Hillenbrand Board of Directors Appoints Joe Loughrey as New Director
2. Hillenbrand Announces Dividend of $0.185 Per Share
3. Hillenbrand, Inc. Announces Corrected First-Quarter Earnings Release and Conference Call Date
4. Hillenbrand, Inc. Announces First-Quarter Earnings Release Date and Conference Call
5. Hillenbrand, Inc. Appoints Jan Santerre Vice President of Lean Business
6. Hillenbrand, Inc. Increases Quarterly Dividend to $0.185 Per Share
7. Hillenbrand, Inc. Reports Fourth-Quarter Revenue of $159 Million and Earnings Per Share of $0.31
8. Hillenbrand, Inc. Announces Fourth-Quarter Earnings Release Date and Conference Call
9. Hillenbrand, Inc. Announces Analyst/Investor Conference in New York Dec. 3
10. Hillenbrand, Inc. Reports Third-Quarter Revenue of $165 Million and Earnings Per Share of $0.42
11. Hillenbrand, Inc. Board of Directors Approves $100M Share Repurchase Program
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/25/2016)... TX (PRWEB) , ... June 25, 2016 , ... Austin ... of the American College of Mohs Surgery and to Dr. Russell Peckham for medical ... and highly effective treatment for skin cancer. The selective fellowship in Mohs Micrographic Surgery ...
(Date:6/25/2016)... ... June 25, 2016 , ... As a lifelong Southern Californian, Dr. Omkar Marathe ... from the David Geffen School of Medicine at UCLA. He trained in Internal Medicine ... his fellowship in hematology/oncology at the UCLA-Olive View-Cedars Sinai program where he had the ...
(Date:6/24/2016)... ... 24, 2016 , ... A recent article published June 14 on ... article goes on to state that individuals are now more comfortable seeking to undergo ... such as calf and cheek reduction. The Los Angeles area medical group, Beverly Hills ...
(Date:6/24/2016)... ... June 24, 2016 , ... The Pulmonary Hypertension Association (PHA) ... will receive two significant new grants to support its work to advance research ... anniversary by recognizing patients, medical professionals and scientists for their work in fighting ...
(Date:6/24/2016)... ... ... Inc, makers of Topricin and MyPainAway Pain Relief Products, join The ‘Business for a Fair ... hour by 2020 and then adjusting it yearly to increase at the same rate as ... the wage floor does not erode again, and make future increases more predictable. , The ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... June 24, 2016  Arkis BioSciences, a leading ... and more durable cerebrospinal fluid treatments, today announced ... Series-A funding is led by Innova Memphis, followed ... other private investors.  Arkis, new financing will accelerate ... the market release of its in-licensed Endexo® technology. ...
(Date:6/23/2016)... Research and Markets has announced the addition of the ... report to their offering. ... failure, it replaces the function of kidneys by removing the ... the treatment helps to keep the patient body,s electrolytes such ... Increasing number of ESRD patients & substantial healthcare expenditure on ...
(Date:6/23/2016)... 2016 Research and Markets has ... by Type (Organic Chemical (Sugar, Petrochemical, Glycerin), Inorganic Chemical), ... Parenteral) - Global Forecast to 2021" report to ... The global pharmaceutical excipients market is projected to reach ... 6.1% in the forecast period 2016 to 2021. ...
Breaking Medicine Technology: