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8-K - FORM 8-K - STERIS plcd391393d8k.htm

Exhibit 99.1

STERIS Announces Financial Results for Fiscal 2018 First Quarter

•    First quarter as reported revenue declines 5% due to divestitures

•    First quarter constant currency organic revenue increases 6%

•    As reported EPS grows 21% and adjusted EPS grows 8%

•    Board approves double-digit percentage increase in quarterly dividend

•    Fiscal 2018 outlook confirmed

LEICESTER, U.K. - (August 8, 2017) - STERIS plc (NYSE: STE) (“STERIS” or the “Company”) today announced financial results for its fiscal 2018 first quarter ended June 30, 2017. Fiscal 2018 first quarter revenue as reported was $608.0 million compared with $638.4 million in the first quarter of fiscal 2017, primarily due to the impact of divested businesses and currency movements. Constant currency organic revenue (see Non-GAAP Financial Measures) growth was 6% for the first quarter of fiscal 2018.

“We are pleased with the strong start to our new fiscal year, with strong organic revenue growth and increased profitability,” said Walt Rosebrough, President and Chief Executive Officer of STERIS. “Based on our performance in the quarter and expectations for the rest of the year, we maintain our forecast of 4-5% constant currency organic revenue growth and adjusted net income per diluted share of $3.96 to $4.09.”

As reported, net income for the first quarter was $58.1 million, or $0.68 per diluted share, compared with net income of $48.4 million, or $0.56 per diluted share in the first quarter of fiscal 2017. Adjusted net income (see Non-GAAP Financial Measures) for the first quarter of fiscal 2018 was $73.2 million, or $0.85 per diluted share, compared with adjusted net income for the previous year’s first quarter of $68.4 million or $0.79 per diluted share.

First Quarter Segment Results

The Company has made organizational changes to better align with our Customers, which resulted in several small businesses shifting within the segments. The prior year periods have been recast for comparability purposes.

Healthcare Products revenue as reported grew 2% in the quarter to $289.1 million compared with $282.7 million in the first quarter of fiscal 2017, driven by 7% growth in service revenue and a 2% increase in capital equipment revenue during the quarter. Consumables declined 1% in the first quarter, as a result of divestitures. Constant currency organic revenue growth for Healthcare Products was 5% during the quarter. Healthcare Products operating income was $42.2 million compared with $36.0 million in last year’s first quarter. The increase in profitability was primarily due to the increased volume and improvement in gross margin.


Healthcare Specialty Services as reported revenue in the quarter was $113.4 million compared with $152.0 million in the first quarter of fiscal 2017, reflecting the impact of divestitures year-over-year. On a constant currency organic revenue basis, the segment increased 11%. Healthcare Specialty Services operating income was $6.0 million compared with $2.5 million in last year’s first quarter, primarily due to improvement within IMS in North America.

Fiscal 2018 first quarter revenue for Applied Sterilization Technologies increased 2% as reported to $124.5 million compared with $122.3 million in the same period last year. Constant currency organic revenue increased 6%, primarily due to increased volume from the segment’s core medical device Customers. Segment operating income increased to $41.2 million in the first quarter of fiscal 2018 compared with operating income of $40.4 million in the same period last year, due primarily to the revenue growth.

Life Sciences first quarter revenue as reported declined 1% to $80.9 million compared with $81.4 million in the first quarter of fiscal 2017. Service revenue grew 5% and consumable revenue grew 2%. Capital equipment revenue declined 12% in the first quarter, while strong orders substantially increased backlog. Constant currency organic revenue grew 1% in the quarter, and operating income was $21.8 million compared with $24.2 million in the prior year’s first quarter. The revenue and profit decline in Life Sciences was primarily due to lower than expected capital equipment shipments.

Cash Flow

Net cash provided by operations for the first three months of fiscal 2018 was $80.7 million, compared with $80.3 million in fiscal 2017. Free cash flow (see Non-GAAP Financial Measures) for the first three months of fiscal 2018 was $44.2 million compared with $49.5 million in the prior year. The free cash flow in the prior year benefited from the positive cash contributions from our divested businesses along with proceeds from the sale of assets.


Dividend Announcement

STERIS’s Board of Directors has authorized a $0.03 increase in its quarterly interim dividend to $0.31 per share. The dividend is payable September 28, 2017 to shareholders of record at the close of business on August 29, 2017.

Conference Call

As previously announced, STERIS management will host a conference call today at 10:00 a.m. Eastern time. The conference call can be heard live over the Internet at www.steris-ir.com or via phone by dialing 1- 877-317-6789 in the United States or 1-412-317-6789 internationally, then asking to join the conference call for STERIS plc.

For those unable to listen to the conference call live, a replay will be available beginning at 12:00 p.m. Eastern Time on August 8, 2017, either over the Internet at www.steris-ir.com or via phone. To access the replay of the call, please use the access code 10109275 and dial 1-877-344-7529 in the United States or 1-412-317-0088 internationally.

About STERIS

STERIS’s mission is to help our Customers create a healthier and safer world by providing innovative healthcare and life science product and service solutions around the globe. For more information, visit www.steris.com.

Investor Contact:

Julie Winter, Director, Investor Relations

Julie_Winter@steris.com

+1 440 392 7245

Media Contact:

Stephen Norton, Senior Director, Corporate Communications

Stephen_Norton@steris.com

+1 440 392 7482


Non-GAAP Financial Measures

Adjusted net income, free cash flow and constant currency organic revenue are non-GAAP measures that may be used from time to time and should not be considered replacements for GAAP results. Non-GAAP financial measures are presented in this release with the intent of providing greater transparency to supplemental financial information used by management and the Board of Directors in their financial analysis and operational decision making. These amounts are disclosed so that the reader has the same financial data that management uses with the belief that it will assist investors and other readers in making comparisons to our historical operating results and analyzing the underlying performance of our operations for the periods presented. The Company believes that the presentation of these non-GAAP financial measures, when considered along with our GAAP financial measures, provides a more complete understanding of the factors and trends affecting our business than could be obtained absent this disclosure.

Adjusted net income excludes the amortization of intangible assets acquired in business combinations, acquisition-related transaction costs, integration costs related to acquisitions, and certain other unusual or non-recurring items. STERIS believes this measure is useful because it excludes items that may not be indicative of or are unrelated to our core operating results and provides a baseline for analyzing trends in our underlying businesses.

The Company defines free cash flow as cash flows from operating activities less purchases of property, plant, equipment and intangibles, net capital expenditures, plus proceeds from the sale of property, plant, equipment, and intangibles. STERIS believes that free cash flow is a useful measure of the Company’s ability to fund future principal debt repayments and growth outside of core operations, pay cash dividends, and repurchase ordinary shares.

To measure the percentage organic revenue growth, the Company removes the impact of acquisitions and divestitures that affect the comparability and trends in revenue. To measure the percentage constant currency organic revenue growth, the impact of changes in foreign currency exchange rates and acquisitions and divestitures that affect the comparability and trends in revenue are removed. The impact of changes in foreign currency exchange rates is calculated by translating current year results at prior year average foreign currency exchange rates.

Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies’ non-GAAP financial measures having the same or similar names. These adjusted financial measures should not be considered in isolation or as a substitute for reported sales, gross profit, operating income, net earnings and net earnings per diluted share, the most directly comparable GAAP financial measures. These non-GAAP financial measures are an additional way of viewing aspects of the Company’s operations that, when viewed with GAAP results and the reconciliations to corresponding GAAP financial measures below, provide a more complete understanding of the business. The Company strongly encourage investors and shareholders to review its financial statements and publicly-filed reports in their entirety and not to rely on any single financial measure.


Forward-Looking Statements

This release and the conference call may contain statements concerning certain trends, expectations, forecasts, estimates, or other forward-looking information affecting or relating to STERIS or its industry, products or activities that are intended to qualify for the protections afforded “forward-looking statements” under the Private Securities Litigation Reform Act of 1995 and other laws and regulations. Forward-looking statements speak only as to the date the statement is made and may be identified by the use of forward-looking terms such as “may,” “will,” “expects,” “believes,” “anticipates,” “plans,” “estimates,” “projects,” “targets,” “forecasts,” “outlook,” “impact,” “potential,” “confidence,” “improve,” “optimistic,” “deliver,” “comfortable,” “trend”, and “seeks,” or the negative of such terms or other variations on such terms or comparable terminology. Many important factors could cause actual results to differ materially from those in the forward-looking statements including, without limitation, disruption of production or supplies, changes in market conditions, political events, pending or future claims or litigation, competitive factors, technology advances, actions of regulatory agencies, and changes in laws, government regulations, labeling or product approvals or the application or interpretation thereof. Other risk factors are described in STERIS’s securities filings, including Item 1A of STERIS’s Annual Report on Form 10-K for the year ended March 31, 2017. Many of these important factors are outside of STERIS’s control. No assurances can be provided as to any result or the timing of any outcome regarding matters described in STERIS’s securities filings or otherwise with respect to any regulatory action, administrative proceedings, government investigations, litigation, warning letters, cost reductions, business strategies, earnings or revenue trends or future financial results. References to products are summaries only and should not be considered the specific terms of the product clearance or literature. Unless legally required, STERIS does not undertake to update or revise any forward-looking statements even if events make clear that any projected results, express or implied, will not be realized. Other potential risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, (a) STERIS’s ability to meet expectations regarding the accounting and tax treatments of the Combination (the “Combination”) with STERIS Corporation and Synergy Health plc (“Synergy”), (b) the possibility that the parties may be unable to achieve expected synergies and operating efficiencies in connection with the Combination within the expected time-frames or at all and to successfully integrate the operations of the companies, (c) the integration of the operations of the companies being more difficult, time-consuming or costly than expected, (d) operating costs, customer loss and business disruption (including, without limitation, difficulties in maintaining relationships with employees, customers, clients or suppliers) being greater than expected following the transaction, (e) the retention of certain key employees of Synergy being difficult, (f) changes in tax laws or interpretations that could increase our consolidated tax liabilities, including, changes in tax laws that would result in STERIS being treated as a domestic corporation for United States federal tax purposes, (g) the potential for increased pressure on pricing or costs that leads to erosion of profit margins, (h) the possibility that market demand will not develop for new technologies, products or applications or services, or business initiatives will take longer, cost more or produce lower benefits than anticipated, (i) the possibility that application of or compliance with laws, court rulings, certifications, regulations, regulatory actions, including without limitation those relating to FDA warning notices or letters, government investigations, the outcome of any pending FDA requests, inspections or submissions, or other requirements or standards may delay, limit or prevent new product introductions, affect the production and marketing of existing products or services or otherwise affect STERIS’s performance, results, prospects or value, (j) the potential of international unrest, economic downturn or effects of currencies, tax assessments, adjustments or anticipated rates, raw material costs or availability, benefit or retirement plan costs, or other regulatory compliance costs, (k) the possibility of reduced demand, or reductions in the rate of growth in demand, for STERIS’s products and services, (l) the possibility that anticipated growth, cost savings, new product acceptance, performance or approvals, or other results may not be achieved, or that transition, labor, competition, timing, execution, regulatory,


governmental, or other issues or risks associated with STERIS’s businesses, industry or initiatives including, without limitation, those matters described in STERIS’s 10-K for the year ended March 31, 2017 and other securities filings, may adversely impact STERIS’s performance, results, prospects or value, (m) the impact on STERIS and its operations of the “Brexit” or the exit of other member countries from the EU, (n) the impact on STERIS and its operations of any legislation, regulations or orders, including but not limited to any new trade or tax legislation, regulations or orders, that may be implemented by the new U.S. administration or Congress, or of any responses thereto, (o) the possibility that anticipated financial results or benefits of recent acquisitions, including the Combination, or of STERIS’s restructuring efforts, or of recent divestitures will not be realized or will be other than anticipated and (p) the effects of the contractions in credit availability, as well as the ability of STERIS’s Customers and suppliers to adequately access the credit markets when needed.


STERIS plc    

Consolidated Condensed Statements of Operations    

(In thousands, except per share data)    

 

     Three Months Ended  
     June 30,  
     2017      2016  
     (Unaudited)      (Unaudited)  

Revenues

   $ 607,964      $ 638,378  

Cost of revenues

     351,843        398,388  
  

 

 

    

 

 

 

Gross profit

     256,121        239,990  

Operating expenses:

     

Selling, general, and administrative

     155,811        151,886  

Research and development

     14,004        14,428  

Restructuring expense

     51        154  
  

 

 

    

 

 

 

Total operating expenses

     169,866        166,468  
  

 

 

    

 

 

 

Income from operations

     86,255        73,522  

Non-operating expense, net

     12,001        10,578  

Income tax expense

     16,039        14,234  
  

 

 

    

 

 

 

Net income

   $ 58,215      $ 48,710  

Net income attributable to noncontrolling interest

     138        309  
  

 

 

    

 

 

 

Net income attributable to shareholders

   $ 58,077      $ 48,401  
  

 

 

    

 

 

 

Earnings per ordinary share (EPS) data:

     

Basic

   $ 0.68      $ 0.56  
  

 

 

    

 

 

 

Diluted

   $ 0.68      $ 0.56  
  

 

 

    

 

 

 

Cash dividends declared per share outstanding

   $ 0.28      $ 0.25  

Weighted average number of shares outstanding used in EPS computation:

     

Basic number of shares outstanding

     85,090        86,038  

Diluted number of shares outstanding

     85,720        86,519  

STERIS plc    

Consolidated Condensed Balance Sheets    

(In thousands)    

 

     June 30,      March 31,  
     2017      2017  
     (Unaudited)         

Assets

     

Current assets:

     

Cash and cash equivalents

   $ 294,840      $ 282,918  

Accounts receivable, net

     455,627        483,451  

Inventories, net

     217,434        197,837  

Other current assets

     62,082        53,596  
  

 

 

    

 

 

 

Total Current Assets

     1,029,983        1,017,802  

Property, plant, and equipment, net

     942,023        915,908  

Goodwill and intangible assets, net

     3,048,431        2,956,190  

Other assets

     35,710        34,555  
  

 

 

    

 

 

 

Total Assets

   $ 5,056,147      $ 4,924,455  
  

 

 

    

 

 

 

Liabilities and Equity

     

Current liabilities:

     

Accounts payable

   $ 125,553      $ 133,479  

Other current liabilities

     228,070        248,104  
  

 

 

    

 

 

 

Total Current Liabilities

     353,623        381,583  

Long-term debt

     1,496,467        1,478,361  

Other liabilities

     266,602        254,478  

Equity

     2,939,455        2,810,033  
  

 

 

    

 

 

 

Total Liabilities and Equity

   $ 5,056,147      $ 4,924,455  
  

 

 

    

 

 

 


STERIS plc    

Segment Data     

Financial information for each of the segments is presented in the following table. The accounting policies for reportable segments are the same as those for the consolidated Company. Operating income (loss) for each segment is calculated as the segment’s gross profit less direct expenses and indirect cost allocations, which results in the full allocation of all distribution and research and development expenses, and the partial allocation of corporate costs. These allocations are based upon variables such as segment headcount and revenues. In addition, the Healthcare Products segment is responsible for the management of all but two manufacturing facilities and uses standard cost to sell products to the other segments. Corporate includes certain unallocated corporate costs related to being a publicly traded company and legacy pension and post-retirement benefits. Adjustments include acquisition related costs, amortization of acquired intangibles, restructuring costs and other charges that management believes may or may not recur with similar materiality or impact on operating income in future periods. Management believes that by adjusting for these items they gain better insight and greater transparency of the operating performance of the segments, thus aiding them in more meaningful financial trend analysis and operational decision making.

 

     Three Months Ended  
     June 30,  
(In thousands)    2017     2016  
     (Unaudited)     (Unaudited)  

Segment Revenues:

    

Healthcare Products

   $ 289,064     $ 282,677  

Healthcare Specialty Services

     113,434       151,975  

Life Sciences

     80,935       81,398  

Applied Sterilization Technologies

     124,531       122,328  
  

 

 

   

 

 

 

Total Segment Revenues

   $ 607,964     $ 638,378  
  

 

 

   

 

 

 

Segment Operating Income:

    

Healthcare Products

   $ 42,237     $ 35,973  

Healthcare Specialty Services

     5,994       2,473  

Life Sciences

     21,815       24,244  

Applied Sterilization Technologies

     41,198       40,408  
  

 

 

   

 

 

 

Total Reportable Segments

     111,244       103,098  

Corporate

     (3,865     (1,574
  

 

 

   

 

 

 

Total Segment Operating Income

   $ 107,379     $ 101,524  

Less: Adjustments

    

Amortization of inventory and property “step up” to fair value

     618       3,086  

Amortization of acquired intangible assets

     16,302       19,529  

Acquisition and integration related charges

     4,029       5,233  

Net loss on divestiture of businesses

     124       —    

Restructuring charges

     51       154  
  

 

 

   

 

 

 

Total operating income

   $ 86,255     $ 73,522  
  

 

 

   

 

 

 


STERIS plc

Consolidated Condensed Statements of Cash Flows

(In thousands)

 

     Three Months Ended
June 30,
 
     2017     2016  
     (Unaudited)     (Unaudited)  

Operating Activities:

    

Net income

   $ 58,215     $ 48,710  

Non-cash items

     45,815       41,373  

Changes in operating assets and liabilities

     (23,377 )      (9,767
  

 

 

   

 

 

 

Net cash provided by operating activities

     80,653       80,316  

Investing Activities:

    

Purchases of property, plant, equipment, and intangibles, net

     (36,492 )      (35,357

Proceeds from sale of property, plant, equipment and intangibles

     9       4,526  

Purchases of investments

     —         (4,564

Acquisition of businesses, net of cash acquired

     (18,399 )      (250
  

 

 

   

 

 

 

Net cash used in investing activities

     (54,882 )      (35,645

Financing Activities:

    

Payments on long-term obligations

     (7,500 )      (5,000

(Payments) proceeds under credit facilities, net

     13,631       (11,079

Acquisition related deferred or contingent consideration

     (1,876 )      (6,000

Deferred financing fees and debt issuance costs

     (44 )      —    

Repurchases of shares

     (8,451 )      (5,171

Cash dividends paid to shareholders

     (23,858 )      (21,538

Stock option and other equity transactions, net

     5,844       758  

Proceeds from issuance of equity to minority shareholders

     —         5,022  
  

 

 

   

 

 

 

Net cash provided by financing activities

     (22,254 )      (43,008

Effect of exchange rate changes on cash and cash equivalents

     8,405       (8,081
  

 

 

   

 

 

 

Increase (decrease) in cash and cash equivalents

     11,922       (6,418

Cash and cash equivalents at beginning of period

     282,918       248,841  
  

 

 

   

 

 

 

Cash and cash equivalents at end of period

   $ 294,840     $ 242,423  
  

 

 

   

 

 

 

The following table presents a financial measure which is considered to be “non-GAAP financial measures” under Securities Exchange Commission rules. Free cash flow is defined by the Company as cash flows from operating activities less purchases of property, plant, equipment and intangibles, net (capital expenditures) plus proceeds from the sale of property, plant, equipment and intangibles. The Company uses free cash flow as a measure to gauge its ability to fund future debt principal repayments, growth outside of core operations, repurchase shares, and pay cash dividends. STERIS’s calculation of free cash flow may vary from other companies.

 

     Three Months Ended
June 30,
 
     2017      2016  
     (Unaudited)      (Unaudited)  

Calculation of Free Cash Flow:

     

Cash flows from operating activities

   $ 80,653      $ 80,316  

Purchases of property, plant, equipment, and intangibles, net

     (36,492 )       (35,357

Proceeds from the sale of property, plant, equipment, and intangibles

     9        4,526  
  

 

 

    

 

 

 

Free Cash Flow

   $ 44,170      $ 49,485  
  

 

 

    

 

 

 

 

     Twelve Months Ended
March 31,
2018
 
     (Outlook)*  

Calculation of free cash flow for outlook:

  

Cash flows from operating activities

   $ 460,000  

Purchases of property, plant, equipment, and intangibles, net

     (180,000
  

 

 

 

Free Cash Flow

   $ 280,000  
  

 

 

 

 

* All amounts are estimates.


STERIS plc

Non-GAAP Financial Measures

(In thousands, except per share data)

Non-GAAP financial measures are presented with the intent of providing greater transparency to supplemental financial information used by management and the Board of Directors in their financial analysis and operational decision making. These amounts are disclosed so that the reader has the same financial data that management uses with the belief that it will assist investors and other readers in making comparisons to our historical operating results and analyzing the underlying performance of our operations for the periods presented.

Management and the Board of Directors believe that the presentation of these non-GAAP financial measures, when considered along with our GAAP financial measures and the reconciliation to the corresponding GAAP financial measures, provide the reader with a more complete understanding of the factors and trends affecting our business than could be obtained absent this disclosure. It is important for the reader to note that the non-GAAP financial measure used may be calculated differently from, and therefore may not be comparable to, a similarly titled measure used by other companies.

 

     Three months ended June 30, (unaudited)  
     As reported, GAAP      Impact of
Acquisitions
     Impact of
Divestitures
    Impact of
Currency
Movements
    GAAP
growth
    Organic
growth
    Constant
currency
organic
growth
 
     2017      2016      2017      2016     2017     2017     2017     2017  

Segment Revenues:

                   

Healthcare Products

   $ 289,064      $ 282,677      $ 6,185      $ (9,235   $ (3,515     2.3     3.5     4.7

Healthcare Specialty Services

     113,434        151,975        —          (46,507     (3,098     -25.4     7.6     10.5

Life Sciences

     80,935        81,398        —          —         (1,061     -0.6     -0.6     0.7

Applied Sterilization Technologies

     124,531        122,328        —          (3,160     (2,233     1.8     4.5     6.4
  

 

 

    

 

 

    

 

 

    

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total

   $ 607,964      $ 638,378      $ 6,185      $ (58,902   $ (9,907     -4.8     3.8     5.6
  

 

 

    

 

 

    

 

 

    

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

To measure the percentage organic revenue growth, the Company removes the impact of acquisitions and divestitures that affect the comparability and trends in revenue. To measure the percentage constant currency organic revenue growth, the impact of changes in currency exchange rates and acquisitions and divestitures that affect the comparability and trends in revenue are removed. The impact of changes in currency exchange rates is calculated by translating current year results at prior year average currency exchange rates.

 

     Three months ended June 30, (unaudited)  
     Gross Profit      Income from Operations      Net income
attributable to
shareholders*
     Diluted EPS  
     2017      2016      2017      2016      2017      2016      2017      2016  

GAAP

   $ 256,121      $ 239,990      $ 86,255      $ 73,522      $ 58,077      $ 48,401      $ 0.68      $ 0.56  

Adjustments:

                       

Amortization of inventory and property “step up” to fair value

     636        3,086        618        3,086              

Amortization and impairment of purchased intangible assets

     22        —          16,302        19,529              

Acquisition and integration related charges

     116        745        4,029        5,233              

Net loss on divestiture of businesses

     —          —          124        —                

Restructuring charges

        —          51        154              

Net impact of adjustments after tax

                 15,124        19,989        

Net EPS impact

                       0.17        0.23  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Adjusted

   $ 256,895      $ 243,821      $ 107,379      $ 101,524      $ 73,201      $ 68,390      $ 0.85      $ 0.79  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

 

* The tax expense (benefit) includes both the current and deferred income tax impact of the adjustments.    

FY 2018 Outlook

 

     Twelve Months Ended  
     March 31, 2018  
     (Outlook)**  

Net Income per diluted share

   $ 3.25-$3.38    

Amortization of inventory and property “step up” to fair value

     0.02  

Amortization and impairment of purchased intangible assets

     0.61  

Acquisition and integration related charges

     0.08  
  

 

 

 

Adjusted net income per diluted share

   $ 3.96-$4.09    
  

 

 

 

 

** All amounts are estimates.


STERIS plc

Unaudited Supplemental Financial Data

First Quarter Fiscal 2018

For Periods Ending June 30, 2017 and 2016

 

     FY 2018     FY 2017  

Total Company Revenues

   Q1     Q1  

Consumables

   $ 147,862     $ 145,665  

Service

   $ 334,359     $ 366,628  
  

 

 

   

 

 

 

Total Recurring

   $ 482,221     $ 512,293  
  

 

 

   

 

 

 

Capital Equipment

   $ 125,743     $ 126,085  
  

 

 

   

 

 

 

Total Revenues

   $ 607,964     $ 638,378  
  

 

 

   

 

 

 

United Kingdom Revenues

   $ 52,722     $ 70,439  

United Kingdom Revenues as a % of Total

     9     11

United States Revenues

   $ 422,959     $ 428,105  

United States Revenues as a % of Total

     70     67

International Revenues

   $ 132,283     $ 139,834  

International Revenues as a % of Total

     22     22

Segment Data

   Q1     Q1  

Healthcare Products

    

Revenues

    

Consumables

   $ 103,688     $ 104,999  

Service

     79,811       74,300  
  

 

 

   

 

 

 

Total Recurring

     183,499       179,299  
  

 

 

   

 

 

 

Capital Equipment

     105,565       103,378  
  

 

 

   

 

 

 

Total Healthcare Products Revenues

   $ 289,064     $ 282,677  
  

 

 

   

 

 

 

Segment Operating Income

     42,237       35,973  
  

 

 

   

 

 

 

Healthcare Specialty Services

    

Healthcare Services Revenues

   $ 113,434     $ 151,975  
  

 

 

   

 

 

 

Segment Operating Income

     5,994       2,473  
  

 

 

   

 

 

 

Life Sciences

    

Revenues

    

Consumables

   $ 38,319     $ 37,499  

Service

     24,335       23,216  
  

 

 

   

 

 

 

Total Recurring

     62,654       60,715  
  

 

 

   

 

 

 

Capital Equipment

     18,281       20,683  
  

 

 

   

 

 

 

Total Life Sciences Revenues

   $ 80,935     $ 81,398  
  

 

 

   

 

 

 

Segment Operating Income

     21,815       24,244  
  

 

 

   

 

 

 

Applied Sterilization Technologies

    

Applied Sterilization Technologies Revenues

   $ 124,531     $ 122,328  
  

 

 

   

 

 

 

Segment Operating Income

   $ 41,198     $ 40,408  

Corporate

    

Operating Loss

     (3,865     (1,574

Other Data

   Q1     Q1  

Healthcare Products Backlog

   $ 135,048     $ 148,846  

Life Sciences Backlog

     66,505       41,255  
  

 

 

   

 

 

 

Total Backlog

   $ 201,553     $ 190,101  

GAAP Income Tax Rate

     21.6     22.6

Adjusted Income Tax Rate

     23.1     24.5

This supplemental data is consistent with publicly disclosed information provided in quarterly conference calls, earnings releases and SEC filings, and is subject to all definitions, precautions and limitations contained in those disclosures. Please see the Company’s most recent 10-K for definitions (and reconciliation where appropriate) of adjusted measures, backlog, free cash flow and net debt.