Attached files
file | filename |
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8-K - FORM 8-K - OWENS & MINOR INC/VA/ | d8k.htm |
EX-99.1 - EXHIBIT 99.1 - OWENS & MINOR INC/VA/ | dex991.htm |
Exhibit 99.2
Owens & Minor, Inc.
Consolidated Statements of Income (unaudited)
(in thousands)
2010 Quarterly Data | ||||||||||||
9/30/2010 | 6/30/2010 | 3/31/2010 | ||||||||||
Net revenue |
$ | 2,063,879 | $ | 2,019,893 | $ | 1,969,670 | ||||||
Cost of goods sold |
1,859,925 | 1,820,953 | 1,772,669 | |||||||||
Gross margin |
203,954 | 198,940 | 197,001 | |||||||||
Selling, general and administrative expenses |
141,569 | 140,340 | 141,713 | |||||||||
Depreciation and amortization |
7,464 | 7,107 | 6,789 | |||||||||
Other operating income, net |
(392 | ) | (669 | ) | (652 | ) | ||||||
Operating earnings |
55,313 | 52,162 | 49,151 | |||||||||
Interest expense, net |
3,758 | 3,505 | 3,299 | |||||||||
Income from continuing operations before income taxes |
51,555 | 48,657 | 45,852 | |||||||||
Income tax provision |
20,050 | 19,188 | 18,035 | |||||||||
Income from continuing operations |
31,505 | 29,469 | 27,817 | |||||||||
Loss from discontinued operations, net of tax |
| | | |||||||||
Net income |
$ | 31,505 | $ | 29,469 | $ | 27,817 | ||||||
2009 Quarterly Data | ||||||||||||||||
12/31/2009 | 9/30/2009 | 6/30/2009 | 3/31/2009 | |||||||||||||
Net revenue |
$ | 2,040,424 | $ | 2,034,792 | $ | 2,013,780 | $ | 1,948,628 | ||||||||
Cost of goods sold |
1,831,911 | 1,823,586 | 1,809,009 | 1,758,732 | ||||||||||||
Gross margin |
208,513 | 211,206 | 204,771 | 189,896 | ||||||||||||
Selling, general and administrative expenses |
147,361 | 149,026 | 151,044 | 145,660 | ||||||||||||
Depreciation and amortization |
6,682 | 6,721 | 6,046 | 5,816 | ||||||||||||
Other operating income, net |
(1,287 | ) | (1,233 | ) | (1,265 | ) | (1,460 | ) | ||||||||
Operating earnings |
55,757 | 56,692 | 48,946 | 39,880 | ||||||||||||
Interest expense, net |
3,194 | 3,202 | 3,291 | 3,341 | ||||||||||||
Income from continuing operations before income taxes |
52,563 | 53,490 | 45,655 | 36,539 | ||||||||||||
Income tax provision |
20,524 | 18,803 | 17,880 | 14,181 | ||||||||||||
Income from continuing operations |
32,039 | 34,687 | 27,775 | 22,358 | ||||||||||||
Loss from discontinued operations, net of tax |
308 | | (4,127 | ) | (8,382 | ) | ||||||||||
Net income |
$ | 32,347 | $ | 34,687 | $ | 23,648 | $ | 13,976 | ||||||||
2008 Quarterly Data | ||||||||||||||||
12/31/2008 | 9/30/2008 | 6/30/2008 | 3/31/2008 | |||||||||||||
Net revenue |
$ | 1,957,848 | $ | 1,786,858 | $ | 1,771,230 | $ | 1,727,301 | ||||||||
Cost of goods sold |
1,758,315 | 1,602,225 | 1,589,678 | 1,551,910 | ||||||||||||
Gross margin |
199,533 | 184,633 | 181,552 | 175,391 | ||||||||||||
Selling, general and administrative expenses |
147,592 | 134,540 | 134,948 | 128,170 | ||||||||||||
Depreciation and amortization |
5,612 | 5,667 | 5,394 | 5,282 | ||||||||||||
Other operating income, net |
(2,009 | ) | (1,893 | ) | (1,898 | ) | (1,021 | ) | ||||||||
Operating earnings |
48,338 | 46,319 | 43,108 | 42,960 | ||||||||||||
Interest expense, net |
3,339 | 6,284 | 2,837 | 3,539 | ||||||||||||
Income from continuing operations before income taxes |
44,999 | 40,035 | 40,271 | 39,421 | ||||||||||||
Income tax provision |
17,590 | 14,687 | 15,811 | 15,381 | ||||||||||||
Income from continuing operations |
27,409 | 25,348 | 24,460 | 24,040 | ||||||||||||
Loss from discontinued operations, net of tax |
(7,206 | ) | (64 | ) | (828 | ) | 168 | |||||||||
Net income |
$ | 20,203 | $ | 25,284 | $ | 23,632 | $ | 24,208 | ||||||||
Annual Data | ||||||||||||
2009 | 2008 | 2007 | ||||||||||
Net revenue |
$ | 8,037,624 | $ | 7,243,237 | $ | 6,694,596 | ||||||
Cost of goods sold |
7,223,237 | 6,502,129 | 6,024,022 | |||||||||
Gross margin |
814,387 | 741,108 | 670,574 | |||||||||
Selling, general and administrative expenses |
593,092 | 545,249 | 515,124 | |||||||||
Depreciation and amortization |
25,265 | 21,955 | 20,856 | |||||||||
Other operating income, net |
(5,245 | ) | (6,821 | ) | (6,187 | ) | ||||||
Operating earnings |
201,275 | 180,725 | 140,781 | |||||||||
Interest expense, net |
13,028 | 15,999 | 23,148 | |||||||||
Income from continuing operations before income taxes |
188,247 | 164,726 | 117,633 | |||||||||
Income tax provision |
71,388 | 63,469 | 46,222 | |||||||||
Income from continuing operations |
116,859 | 101,257 | 71,411 | |||||||||
Loss from discontinued operations, net of tax |
(12,201 | ) | (7,930 | ) | 1,299 | |||||||
Net income |
$ | 104,658 | $ | 93,327 | $ | 72,710 | ||||||
Owens & Minor, Inc.
Financial Statistics (unaudited)
(dollars in thousands)
2010 Quarterly Data | ||||||||||||
9/30/2010 | 6/30/2010 | 3/31/2010 | ||||||||||
Operating results: |
||||||||||||
Net revenue |
$ | 2,063,879 | $ | 2,019,893 | $ | 1,969,670 | ||||||
Gross margin |
$ | 203,954 | $ | 198,940 | $ | 197,001 | ||||||
Gross margin as a percent of net revenue |
9.88% | 9.85% | 10.00% | |||||||||
Selling, general and administrative expense |
$ | 141,569 | $ | 140,340 | $ | 141,713 | ||||||
Selling, general and administrative expense as a percent of net revenue |
6.86% | 6.95% | 7.19% | |||||||||
Operating earnings |
$ | 55,313 | $ | 52,162 | $ | 49,151 | ||||||
Operating earnings as a percent of net revenue |
2.68% | 2.58% | 2.50% | |||||||||
Income from continuing operations |
$ | 31,505 | $ | 29,469 | $ | 27,817 | ||||||
Income from continuing operations as a percent of net revenue |
1.53% | 1.46% | 1.41% | |||||||||
2009 Quarterly Data | ||||||||||||||||
12/31/2009 | 9/30/2009 | 6/30/2009 | 3/31/2009 | |||||||||||||
Operating results: |
||||||||||||||||
Net revenue |
$ | 2,040,424 | $ | 2,034,792 | $ | 2,013,780 | $ | 1,948,628 | ||||||||
Gross margin |
$ | 208,513 | $ | 211,206 | $ | 204,771 | $ | 189,896 | ||||||||
Gross margin as a percent of net revenue |
10.22% | 10.38% | 10.17% | 9.75% | ||||||||||||
Selling, general and administrative expense |
$ | 147,361 | $ | 149,026 | $ | 151,044 | $ | 145,660 | ||||||||
Selling, general and administrative expense as a percent of net revenue |
7.22% | 7.32% | 7.50% | 7.47% | ||||||||||||
Operating earnings |
$ | 55,757 | $ | 56,692 | $ | 48,946 | $ | 39,880 | ||||||||
Operating earnings as a percent of net revenue |
2.73% | 2.79% | 2.43% | 2.05% | ||||||||||||
Income from continuing operations |
$ | 32,039 | $ | 34,687 | $ | 27,775 | $ | 22,358 | ||||||||
Income from continuing operations as a percent of net revenue |
1.57% | 1.70% | $ | 1.38% | 1.15% | |||||||||||
2008 Quarterly Data | ||||||||||||||||
12/31/2008 | 9/30/2008 | 6/30/2008 | 3/31/2008 | |||||||||||||
Operating results: |
||||||||||||||||
Net revenue |
$ | 1,957,848 | $ | 1,786,858 | $ | 1,771,230 | $ | 1,727,301 | ||||||||
Gross margin |
$ | 199,533 | $ | 184,633 | $ | 181,552 | $ | 175,391 | ||||||||
Gross margin as a percent of net revenue |
10.19% | 10.33% | 10.25% | 10.15% | ||||||||||||
Selling, general and administrative expense |
$ | 147,592 | $ | 134,540 | $ | 134,948 | $ | 128,170 | ||||||||
Selling, general and administrative expense as a percent of net revenue |
7.54% | 7.53% | 7.62% | 7.42% | ||||||||||||
Operating earnings |
$ | 48,338 | $ | 46,319 | $ | 43,108 | $ | 42,960 | ||||||||
Operating earnings as a percent of net revenue |
2.47% | 2.59% | 2.43% | 2.49% | ||||||||||||
Income from continuing operations |
$ | 27,409 | $ | 25,348 | $ | 24,460 | $ | 24,040 | ||||||||
Income from continuing operations as a percent of net revenue |
1.40% | 1.42% | $ | 1.38% | 1.39% | |||||||||||
Annual Data | ||||||||||||
2009 | 2008 | 2007 | ||||||||||
Operating results: |
||||||||||||
Net revenue |
$ | 8,037,624 | $ | 7,243,237 | $ | 6,694,596 | ||||||
Gross margin |
$ | 814,387 | $ | 741,108 | $ | 670,574 | ||||||
Gross margin as a percent of net revenue |
10.13% | 10.23% | 10.02% | |||||||||
Selling, general and administrative expense |
$ | 593,092 | $ | 545,249 | $ | 515,124 | ||||||
Selling, general and administrative expense as a percent of net revenue |
7.38% | 7.53% | 7.70% | |||||||||
Operating earnings |
$ | 201,275 | $ | 180,725 | $ | 140,781 | ||||||
Operating earnings as a percent of net revenue |
2.50% | 2.50% | 2.10% | |||||||||
Income from continuing operations |
$ | 116,859 | $ | 101,257 | $ | 71,411 | ||||||
Income from continuing operations as a percent of net revenue |
1.45% | $ | 1.40% | 1.07% | ||||||||