STERIS Corporation Announces Fiscal 2008 Second Quart... ( MENTOR Ohio Oct. 30 /- STERIS Cor...)

STERIS Corporation Announces Fiscal 2008 Second Quarter Results

Date:10/30/2007

MENTOR, Ohio, Oct. 30 /PRNewswire-FirstCall/ -- STERIS Corporation (NYSE: STE) today announced financial results for its fiscal 2008 second quarter ended September 30, 2007. Fiscal 2008 second quarter revenues increased 4% to $295.0 million compared with $283.5 million in the second quarter of fiscal 2007, primarily driven by growth in the Healthcare and Isomedix segments.

Fiscal 2008 second quarter net income was $16.0 million, or $0.25 per diluted share, compared with net income of $16.4 million, or $0.25 per diluted share, in the second quarter of fiscal 2007. Included in net income for the second quarter of fiscal 2008 and fiscal 2007 are expenses associated with the Erie to Mexico transfer of manufacturing operations. These expenses negatively impacted diluted earnings per share in the second quarter of fiscal 2008 by $0.01, compared with $0.03 per diluted share in the prior year period.

"I am excited to be on board at STERIS, and through a series of meetings with key constituents and visits to many of our facilities, I am working to immerse myself in the operations of the Company," said Walt Rosebrough, STERIS's president and chief executive officer. "From a performance perspective, demand appears to be improving while raw material cost pressures may continue in the short-term. Overall, I am encouraged by what I see and I believe there is an excellent opportunity to build on the strong foundation already in place."

Quarterly Segment Results

Healthcare revenues in the quarter increased 5% to $206.7 million, compared with the second quarter of fiscal 2007. The segment experienced continued strong growth in service and consumable revenues. Capital equipment revenues increased slightly during
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