Owens & Minor Sales Up 3.7% in Second Quarter - Modern Distribution Management

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Owens & Minor Sales Up 3.7% in Second Quarter

Owens & Minor also announced a change of leadership.

Owens & Minor Inc. (NYSE: OMI) reported sales for the second quarter of $2.2 billion, an increase of 3.7 percent from the second quarter of 2012. Profit decreased 4.1 percent to $28.9 million.

For the first six months, sales were $4.5 billion, an increase of 3.2 percent from the first half of 2012.  Profit fell 7.6 percent to $55 million.

"While conditions remain challenging in the U.S. healthcare market, we continue to work on improving day-to-day operations," said Craig R. Smith, chairman, president & CEO of Owens & Minor. "While we are very encouraged by the progress we are making in Europe with Movianto, we recognize we still have work to do this year to achieve the goals we have established for our international segment."

Owens & Minor agreed to acquire the Movianto Group, a third-party logistics company for the pharmaceutical and medical device industries, from Celesio AG, Stuttgart, Germany, in July 2012 for €130 million (US$158 million).

Owens & Minor also announced that James L. Bierman, executive vice president and COO, has been promoted to president & COO effective August 1. Craig R. Smith will remain as CEO.

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