-- International. International segment revenue, on both a reported and constant currency basis, decreased 1 percent to $125 million due to declines in capital sales in Eastern Europe, the Middle East and Latin America. This was partially offset by the inclusion of Volker for the full quarter in 2013.
-- Surgical/Respiratory Care. Surgical/Respiratory Care revenue increased 81 percent to $61 million, due to the addition of the Aspen business. Excluding Aspen, segment revenue decreased 4 percent on lower respiratory care revenues.
-- Year to date operating cash flow was $113 million, compared to $124 million in the prior year, down primarily on lower net income.
-- Year to date adjusted EBITDA was $150 million, compared to $157 million in the prior year.
-- Year to date share repurchases amounted to approximately $44 million.
-- During the quarter, the Company implemented a restructuring action in order to reduce fixed costs and streamline operations. The action included the elimination of approximately 100 positions, consolidation of select operations and a product discontinuation. The Company anticipates incurring pre-tax charges in connection with the restructuring totaling approximately $5 to $7 million during 2013, of which $3 million, or $0.03 per diluted share, was recorded in the second quarter. The restructuring action is anticipated to yield annualized savings of approximately $8 million after full implementation.
Please see the attached schedules for additional information, including condensed financial information, summary balance sheet, cash flow statement and reconciliations of GAAP to adjusted financial measures.
For a more complete review of Hill-Rom's results, please refer to our Quarterly Report on Form 10-Q for the quarter ended March 31, 2013 to be filed later
|SOURCE Hill-Rom Holdings, Inc.|
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