1st Quarter 2016 financial results will be released on Tuesday, May
Management Conference Call to follow on Wednesday, May 4, 2016
RICHMOND, Va.--(BUSINESS WIRE)--
Owens & Minor, Inc. (NYSE:OMI) announced today that it has been notified
by a national healthcare-provider customer that the customer does not
intend to renew its distribution agreement. The transition of this
customer, which generated approximately $525 million in revenues to
Owens & Minor in 2015, is expected to begin in late 2016.
Despite this change in its customer base, Owens & Minor affirmed its
financial outlook for 2016 of adjusted earnings per diluted share in a
range of $2.00 to $2.05. The 2016 outlook is based on certain
assumptions that are subject to the risk factors discussed in the
company's filings with the Securities & Exchange Commission.
"Although we are disappointed in the customer's decision to make this
transition, we remain focused on achieving our long-term financial and
operational performance goals," said P. Cody Phipps, president & chief
executive officer of Owens & Minor. "As a leading global healthcare
services company, we remain focused on implementing our Transformation
Agenda, which will position Owens & Minor for sustained profitable
growth in the domestic and international markets. We intend to provide
more detail on this customer transition, as well as our progress toward
our 2016 goals, when we release first-quarter 2016 earnings."
Quarter 2016 Earnings Date & Conference Call Information
Owens & Minor will report first-quarter 2016 financial results on
Tuesday, May 3, 2016, after the close of the New York Stock Exchange. On
the following morning, Owens & Minor will conduct a conference call for
investors on Wednesday, May 4, 2016, at 8:30 a.m. EDT. The access code
for the conference call, international dial-in and replay is #86705206.
Participants may access the call at 866-393-1604. The
international dial-in number is 224-357-2191. Replay: A replay of the
call will be available for one week by dialing 855-859-2056. Webcast: A
listen-only webcast of the call, along with supplemental information,
will be available on www.owens-minor.com
under "Investor Relations."
Owens & Minor uses its website as a channel of distribution for material
company information, including news releases, investor presentations and
financial information. This information is routinely posted and
accessible under Investor Relations at www.owens-minor.com.
Safe Harbor Statement
Except for historical information, the matters discussed in this press
release may constitute forward-looking statements that involve risks and
uncertainties that could cause actual results to differ materially from
those projected. These risk factors are discussed in reports filed by
the company with the Securities & Exchange Commission. All of this
information is available at www.owens-minor.com.
The company assumes no obligation, and expressly disclaims any such
obligation, to update or alter information, whether as a result of new
information, future events, or otherwise.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160420005807/en/
Owens & Minor, Inc.
Truitt Allcott, 804-723-7555
Investor & Media Relations
Source: Owens & Minor, Inc.
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