Hill-Rom posts Q3 earnings beat, raises outlook

Hill-Rom Holdings (NYSE:HRC) shares are up slightly today after the company reported higher-than-expected earnings for the 3rd quarter, lifting its outlook for the 4th and full fiscal year.

The Chicago-based company reported profits of $45 million, or 68¢ per share, on sales of $556 million for the 3 months ended June 30. That amounts to a 140% bottom-line gain as sales grew 47.6% compared to the same period last year.

After adjusting to exclude 1-time items, earnings per share were 81¢; Analysts on Wall Street were looking for an adjusted EPS of 76¢.

Shares in Hill-Rom have stayed steady, up 0.4% to trade at $54.52 as of 3:15 p.m. EDT.

“We delivered a strong quarter of revenue and earnings growth that exceeded our expectations, and as a result we have raised our full-year adjusted earnings outlook. This performance reflects the value of our diversified portfolio, our disciplined focus on commercial and operational execution, and our commitment to cost management and margin improvement across our businesses,” CEO John Greisch said in prepared remarks.

For the upcoming quarter, Hill-Rom expects revenue between $695 million and $705 million with adjusted earnings per share between $1.12 and $1.14.

Hill-Rom said it expects reported revenue for the full fiscal year to be $2.65 billion, shifting from earlier guidance which expected rev in the range of $2.64 and $2.67 billion. Adjusted earnings per share for the year are expected to be between $3.32 and $3.34, up from earlier guidance of $3.26 to $3.30.

In June, Hill-Rom it launched the VisiVest System designed for patients in need of airway clearance therapy.

The newly launched system combines high-frequency chest-wall oscillation technology, as well as wireless connectivity, enabled by Qualcomm‘s (NASDAQ: QCOM) Qualcomm Life subsidiary, to allow therapy adherence data to be transmitted to caregivers to improve clinical decision making, the company said.

The post Hill-Rom posts Q3 earnings beat, raises outlook appeared first on MassDevice.

from MassDevice http://ift.tt/2aDHckt