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Home » Owens & Minor Reports Slight Sales Increase in 2Q

Owens & Minor Reports Slight Sales Increase in 2Q

By    MDM  Staff 
July 26, 2010
More about:  Pharmaceutical Distribution
CEO expects full-year sales to improve slightly over 2009.
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Owens & Minor, Inc., (NYSE: OMI), Richmond, VA, reported sales for the second quarter were $2.02 billion, a slight increase from revenue of $2.01 billion a year ago. Profit for the distributor of medical and surgical supplies improved 25 percent to $29.5 million.

For the first six months, sales were $3.99 billion, up slightly from year-ago sales of $3.96 billion. Profit increased 52 percent to $57.3 million.

"During the first half of this year, our business felt the impact of lower than expected utilization of healthcare services," said Craig R. Smith, president and CEO. "Assuming there is no meaningful change to current economic conditions, we now believe that our full-year revenue results will improve slightly when compared to the prior year."

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