Owens & Minor Names W. Marshall Simpson as Executive Vice President & Chief Commercial Officer, Effective October 4, 2015
Sep 11 15
Owens & Minor Inc. announced that it has named W. Marshall Simpson to serve as Executive Vice President & Chief Commercial Officer, effective October 4, 2015.
Simpson, who was most recently Chief Executive Officer of Dominions Medical, a consulting firm he founded to advise new and existing medical and technology companies, served for twenty years at Owens & Minor. After starting his career at Owens & Minor as a sales representative in 1991, Simpson worked in a variety of roles at Owens & Minor, eventually serving as Senior Vice President, Sales, Operations & Marketing from 2007 to 2011. Simpson, whose appointment was approved by the company’s board of directors, will serve on the leadership team of P. Cody Phipps, Owens & Minor’s new President & Chief Executive Officer.
Owens & Minor Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Revises Earnings Guidance for the Year 2015
Jul 28 15
Owens & Minor Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported net revenue of $2,422,167,000 compared to $2,305,858,000 a year ago. Operating earnings were $47,860,000 compared to $37,101,000 a year ago. Income before income taxes was $41,180,000 compared to $33,759,000 a year ago. Net income was $24,226,000 or $0.39 per basic and diluted share compared to $19,876,000 or $0.32 per basic and diluted share a year ago. Operating earnings, adjusted (non-GAAP) were $53,567,000 compared to $44,694,000 a year ago. Net income, adjusted (non-GAAP) was $29,095,000 or $0.46 per diluted share compared to $24,971,000 or $0.40 per diluted share a year ago. The quarterly revenue growth was driven primarily by strength in the Domestic segment.
For the six months period, the company reported net revenue of $4,813,363,000 compared to $4,562,239,000 a year ago. Operating earnings were $88,835,000 compared to $83,387,000 a year ago. Income before income taxes was $75,275,000 compared to $76,798,000 a year ago. Net income was $43,166,000 or $0.69 per basic and diluted share compared to $45,362,000 or $0.72 per basic and diluted share a year ago. Cash provided by operating activities was $246,790,000 compared to $73,472,000 a year ago. Additions to property and equipment were $12,009,000 compared to $25,657,000 a year ago. Additions to computer software and intangible assets were $10,816,000 compared to $13,166,000 a year ago. For the year-to-date period, adjusted net income (non-GAAP), which excludes after-tax charges of $3.6 million for acquisition-related and $9.9 million for exit and realignment activities, was $56.6 million, or $0.90 per diluted share. When comparing year-to-date results to the same period last year, 2014 results included the first-quarter recovery of $5.3 million, resulting from the settlement of a direct purchaser anti-trust class action lawsuit, which was included in other operating income. On an adjusted basis, consolidated operating earnings for the year-to-date period were $104.5 million, or 2.17% of revenues, an improvement of $10.2 million versus the first six months of 2014.
The company is expanding the range of its targeted adjusted net income per diluted share for the year 2015 to $1.85 to $1.95, from the previous $1.90 to $1.95 to incorporate the impact of foreign currency and an estimated $0.05 impact from the recruitment and transition of the company's new chief executive officer.
Owens & Minor Announces Third Quarter 2015 Cash Dividend, Payable on September 30, 2015
Jul 27 15
Owens & Minor Inc. announced that its board of directors has approved the payment of the third-quarter 2015 cash dividend in the amount of $0.2525 per share. The cash dividend is payable on September 30, 2015, to shareholders of record as of September 15, 2015.
Owens & Minor Inc. Presents at Morgan Stanley Global Healthcare Conference - New York, Sep-16-2015
Jul 27 15
Owens & Minor Inc. Presents at Morgan Stanley Global Healthcare Conference - New York, Sep-16-2015 . Venue: The Grand Hyatt New York, 109 East 42nd Street, New York, New York, United States.
Owens & Minor Inc. Presents at Baird 2015 Healthcare Conference, Sep-09-2015 03:45 PM
Jul 22 15
Owens & Minor Inc. Presents at Baird 2015 Healthcare Conference, Sep-09-2015 03:45 PM. Venue: The New York Palace, 455 Madison Avenue, New York, New York, United States.