Steris (NYSE:STE) stocks surged after posting Q4 figures that beat Wall Street expectations. The company reported per-share earnings of 70¢, which is 5¢ better than analysts’ consensus estimate, sending shares up 3.5 points by market close on May 7.
The Mentor, Ohio-based healthcare company posted 1st-quarter 2013 profits of $41.4 million on sales of $426.2 million. That compares with profits of $44.2 million, or 76¢ per diluted share, on sales of $374.9 million during the same period last year.
"The people of Steris executed our strategy and delivered performance that exceeded our expectations on both the top and bottom-line despite challenging year-over-year comparisons, market weakness in Europe and the first quarter of the medical device excise tax," said CEO Walt Rosebrough in a company statement.
For the full year profits amounted to $160 million, or $2.72 per diluted share, on sales of $1.5 billion. That compares with full-year 2012 profits of $136.1 million, or $2.31 per diluted share, on sales of $1.4 billion. Steris posted a strong year-end outlook in February, boosting its bottom line by 43% during its fiscal 3rd quarter, increasing its year-end guidance in the process.
The company is maintaining its guidance, expecting 8-10% sales growth in 2014 compared to adjusted 2013 growth.
