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Owens & Minor tops Street 4Q forecasts

MECHANICSVILLE, Va. (AP) _ Owens & Minor Inc. (OMI) on Wednesday reported fourth-quarter profit of $23 million.

The Mechanicsville, Virginia-based company said it had net income of 38 cents per share. Earnings, adjusted for one-time gains and costs, were 35 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 34 cents per share.

The medical supply distributor posted revenue of $2.39 billion in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $2.33 billion.

For the year, the company reported profit of $72.8 million, or $1.20 per share. Revenue was reported as $9.32 billion.

Owens & Minor shares have declined 16 percent since the beginning of the year. The stock has fallen 56 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on OMI at https://www.zacks.com/ap/OMI