Steris (NYSE:STE) boosted its bottom line by 43% during its fiscal 3rd quarter, increasing its year-end guidance in the process.
The Mentor, Ohio-based healthcare company said it expects sales to jump 5% during 2013, up from previous estimates of 3-4% growth, based on the strength of its healthcare segment. The strong sales will help the company to increase profits to $2.25-$2.35 (including a 3¢ negative impact from the medical device tax), compared with prior expectations of $2.15-$2.35.
The news was met positively on Wall Street, where investors sent shares of Steris up more than 3% in early-day trading.
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Steris reported net income of $48.1 million, or 82¢ per share, on $380 million in sales during the 3-months ended Dec. 31, 2012, for a 43% profit jump and top-line growth of 7.1%.
The company’s strong quarter was paced by a 5% jump in sales in the company’s healthcare segment to $271 million, compared to $259 million for the same period last year. The division makes capital equipment, accessory, consumable, and services to healthcare providers, acute care hospitals and surgery centers.
STE shares were trading at $39 even as of about 11 a.m. today, up 3.2%.