Shares in Steris (NYSE:STE) are up slightly in after hours trading today after the medical device maker posted fourth quarter and fiscal year 2019 earnings that topped expectations from Wall Street analysts.
The Dublin, Ireland-based company posted profits of $108.7 million, or $1.27 per share, on sales of $768.2 million for the three months ended March 31, seeing profits grow 47.8% while sales grew 7.3% when compared to the same period during the previous year.
Adjusted to exclude one-time items, earnings per share were $1.53, 10¢ ahead of the $1.43 consensus on Wall Street, where analysts expected to see sales of $738.5 million, which the company also topped.
For the full year, Steris posted profits of approximately $304.1 million, or $3.56 per share, on sales of approximately $2.78 billion, seeing profits grow 4.5% while sales grew 6.2% when compared to the previous fiscal year.
After adjusting to exclude one-time items, earnings per share for the year were $4.89, ahead of the $4.78 consensus on Wall Street, where analysts were looking for sales of $2.75 billion, which the company beat.
“We finished fiscal 2019 stronger than anticipated, with meaningful contributions from improved customer demand, new products and services, as well as some Brexit-related inventory build-up by our customers. We anticipate that fiscal 2020 will be another record year resulting from underlying demand and new products and services,” prez & CEO Walt Rosebrough said in a press release.
Steris provided guidance for the coming fiscal year, saying it expects to post adjusted diluted earnings per share of between $5.28 and $5.43.
Shares in Steris have risen approximately 0.4% in after-hours trading today, at $125.54 as of 4:26 p.m. EDT.
Last month, Steris won a supply contract extension with the U.S. Department of Defense worth over $350 million to supply the agency with integrated operating room components, accessories and services.
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