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Owens Minor Inc (OMI) SEC Filing 10-Q Quarterly report for the period ending Monday, September 30, 2019

SEC Filings

Owens Minor Inc

CIK: 75252 Ticker: OMI

Exhibit 99.1
FOR IMMEDIATE RELEASE                        
November 6, 2019

Owens & Minor Reports 3rd Quarter 2019 Financial Results


RICHMOND, VA - November 6, 2019 - Owens & Minor, Inc. (NYSE-OMI) today reported financial results for the third quarter ended September 30, 2019, as summarized in the table below.

“I am excited to announce that we had another quarter with significant sequential improvement. Our third quarter results show back-to-back quarters of sequential growth in operating income and EPS, expansion of quarterly operating cash flow, additional reduction in working capital and an increased pace of debt pay down. This is a result of our teammates actively embracing our focus around serving our customers and driving productivity,” said Edward A. Pesicka, President & Chief Executive Officer of Owens & Minor.

“Additionally, we have improved our service metrics to levels that have not been achieved in years. The strong performance and consistency of our service gives us confidence that many of the past service issues have been resolved, however we will continue to drive additional initiatives to further improve and provide innovative services. We continue to focus on productivity and efficiency initiatives to drive operating improvements in our core businesses: distribution channel, product manufacturing, home healthcare, and acute care services. While we are ahead of the long-term recovery plan I envisioned when I joined in March, we recognize that there is still a significant amount of work ahead. We will not take our customers for granted and will continue to provide a high level of customer focus while maintaining industry-leading integrity.”


Financial Summary
 
 
YTD
YTD
($ in millions, except per share data)
3Q19
3Q18
2019
2018
    Revenue
$2,399
$2,465
$7,345
$7,296
Operating income, GAAP1,2
$25.3
$21.4
$56.2
($126)
Adj. Operating income, Non-GAAP1,2
$42.3
$48.8
$109
$143
Net income (loss), GAAP1,2
$1.2
($0.6)
($23.3)
($175)
Adj. Net income, Non-GAAP1,2
$12.2
$19.5
$19.3
$65.1
Net Income (loss) per share, GAAP1,2
$0.02
($0.01)
($0.39)
($2.92)
Adj. Net Income per share, Non-GAAP1,2
$0.20
$0.32
$0.32
$1.06
Adj. Net Income per share, Non-GAAP, constant currency1,2,3
$0.22
$0.32
$0.34
$1.06

1. Reconciliations of the differences between the non-GAAP financial measures presented in this news release and their most directly comparable GAAP financial measures are included in the financial tables below.
2. Year-to-date comparisons to prior year results are impacted by the second quarter 2018 goodwill and intangible asset impairment charge of
$165 million, or $2.73 per share. This charge was classified as a non-GAAP item and, accordingly, did not affect results reported on an adjusted basis.
3. Adjusted net income per share, non-GAAP at 2018 foreign currency exchange rates.






The following information was filed by Owens Minor Inc (OMI) on Wednesday, November 6, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Owens Minor Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Equity
Consolidated Statements Of Changes In Equity (Parenthetical)
Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Statements Of Comprehensive Income (Loss) (Parenthetical)
Consolidated Statements Of Income (Loss)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) (Tables)
Accumulated Other Comprehensive Income (Loss) - Additional Information (Detail)
Accumulated Other Comprehensive Income (Loss) - Changes In Accumulated Income (Loss) By Component (Detail)
Acquisitions
Acquisitions (Tables)
Acquisitions - Additional Information (Details)
Acquisitions - Allocation Of Purchase Price (Details)
Debt
Debt - (Tables)
Debt - Additional Information (Detail)
Debt - Schedule Of Debt (Details)
Derivatives
Derivatives (Tables)
Derivatives - Narrative (Details)
Derivatives - Summary Of The Effect Of Cash Flow Hedge (Details)
Derivatives - Summary Of The Terms And Fair Value Of Our Outstanding Derivative Financial Instruments (Details)
Exit And Realignment Costs
Exit And Realignment Costs (Tables)
Exit And Realignment Costs - Accrual For Exit And Realignment Costs (Detail)
Exit And Realignment Costs - Additional Information (Detail)
Fair Value
Financing Receivables And Payables
Financing Receivables And Payables - Additional Information (Detail)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Tables)
Goodwill And Intangible Assets - Additional Information (Detail)
Goodwill And Intangible Assets - Changes In Carrying Amount Of Goodwill (Detail)
Goodwill And Intangible Assets - Intangible Assets (Detail)
Income Taxes
Income Taxes - Additional Information (Detail)
Leases
Leases (Tables)
Leases - Components Of Lease Expense (Details)
Leases - Future Minimum Annual Payments Under Non-Cancelable Lease Agreements (Details)
Leases - Maturities Of Lease Liabilities (Details)
Leases - Narrative (Details)
Leases - Supplemental Balance Sheet Information (Details)
Leases - Supplemental Cash Flow Information (Details)
Net Income (Loss) Per Common Share (Tables)
Net Income (Loss) Per Common Share - Summary Of Calculation Of Net Income Per Common Share (Detail)
Net Loss Per Common Share
Recent Accounting Pronouncements
Retirement Plans
Retirement Plans (Tables)
Retirement Plans - Additional Information (Detail)
Retirement Plans - Components Of Net Periodic Benefit Cost (Detail)
Segment Information
Segment Information (Tables)
Segment Information Consolidated Total Assets (Detail)
Segment Information Financial Information By Segment (Detail)
Segment Information Net Revenue By Geographic Area (Details)
Shareholders' Equity
Shareholders' Equity - Additional Information (Detail)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies - (Tables)
Summary Of Significant Accounting Policies - Narrative (Details)
Summary Of Significant Accounting Policies Summary Of Significant Accounting Policies (Details)

Material Contracts, Statements, Certifications & more

Owens Minor Inc provided additional information to their SEC Filing as exhibits

Ticker: OMI
CIK: 75252
Form Type: 10-Q Quarterly Report
Accession Number: 0000075252-19-000129
Submitted to the SEC: Wed Nov 06 2019 11:45:17 AM EST
Accepted by the SEC: Wed Nov 06 2019
Period: Monday, September 30, 2019
Industry: Wholesale Medical Dental And Hospital Equipment And Supplies

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