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Owens Minor Inc (OMI) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2019

SEC Filings

Owens Minor Inc

CIK: 75252 Ticker: OMI

 

 
FOR IMMEDIATE RELEASE                     
March 4, 2020


Owens & Minor Reports 4th Quarter and Full Year 2019 Financial Results


RICHMOND, VA – March 4, 2020 – Owens & Minor, Inc. (NYSE-OMI) today reported financial results for the fourth quarter and the year ended December 31, 2019, as summarized in the table below.

“I am very pleased that we were able to sustain sequential improvement in adjusted operating income and adjusted earnings per share while also continuing to generate positive cash flow and reduce debt. Looking back at 2019, I am proud that we changed our culture, significantly improved customer service, built a great leadership team, and drove operating efficiencies, enabling us to establish a strong foundation for the future,” said Edward A. Pesicka, President & Chief Executive Officer of Owens & Minor.

“In addition to the strong foundation we have built in 2019, we’ve already taken action in 2020 to provide financial flexibility through the pending sale of Movianto and our improved debt profile. This further enables us to reinvest and focus on our core businesses – distribution, products, and services. We believe these investments will continue to drive long-term profitable growth generating consistent annual double-digit earnings growth beyond 2020.”

Financial Summary1
 
 
 
 
FYE
 
FYE
 
($ in millions, except per share data)
4Q19
 
4Q18
 
2019
 
2018
 
 
 
 
 
 
 
 
 
 
Revenue
$2,191
 
$2,434
 
$9,211
 
$9,418
 
 
 
 
 
 
 
 
 
 
Operating Income (loss), GAAP2,3
$14.5
 
($238)
 
$73.2
 
($352)
 
Adj. Operating Income, Non-GAAP2,3
$43.5
 
$33.7
 
$153
 
$177
 
 
 
 
 
 
 
 
 
 
Net Income (Loss), GAAP2,3
($39.0)
 
($262)
 
($62.4)
 
($437)
 
Adj. Net Income, Non-GAAP2,3
$14.7
 
$5.3
 
$34.0
 
$70.4
 
 
 
 
 
 
 
 
 
 
Net Income (Loss) per share, GAAP2,3
($0.65)
 
($4.37)
 
($1.03)
 
($7.28)
 
Adj. Net Income per share, Non-GAAP2,3
$0.24
 
$0.09
 
$0.56
 
$1.15
 
Adj. Net Income per share, Non-GAAP, constant currency2,3,4
$0.26
 
$0.09
 
$0.60
 
$1.15
 
 
 
 
 
 
 
 
 
 
1. Current and prior period financial results reflect the reporting of Movianto as a discontinued operation due to the pending sale.
2. Reconciliations of the differences between the non-GAAP financial measures presented in this release and their most
    directly comparable GAAP financial measures are included in the tables below.
3. Quarterly and year-to-date comparisons to prior year results are impacted by the 2018 goodwill and intangible asset impairment charges. These charges were classified as non-GAAP items and, accordingly, did not affect results reported on an adjusted basis.
4. Adjusted net income per share, non-GAAP at 2018 foreign currency exchange rates.
 
 







1


The following information was filed by Owens Minor Inc (OMI) on Wednesday, March 4, 2020 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-K Annual 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-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Shareholders' Equity
Consolidated Statements Of Changes In Shareholders' Equity (Parenthetical)
Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Statements Of Comprehensive Income (Parenthetical)
Consolidated Statements Of Income (Loss)
- Summary Of Significant Accounting Policies - Additional Information (Detail)
Accounts Receivable, Net
Accounts Receivable, Net - Additional Information (Detail)
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Details)
Accumulated Other Comprehensive Income (Tables)
Acquisitions
Acquisitions (Tables)
Acquisitions - Additional Information (Detail)
Acquisitions - Estimated Fair Value Of Assets Acquired And Liabilities Assumed (Detail)
Commitments And Contingencies
Commitments And Contingencies - Additional Information (Detail)
Condensed Consolidating Financial Information
Condensed Consolidating Financial Information (Condensed Consolidating Balance Sheet) (Detail)
Condensed Consolidating Financial Information (Condensed Consolidating Statements Of Cash Flows) (Detail)
Condensed Consolidating Financial Information (Condensed Consolidating Statements Of Income) (Detail)
Condensed Consolidating Financial Information (Details)
Condensed Consolidating Financial Information (Tables)
Debt
Debt (Detail)
Debt (Tables)
Debt - Additional Information (Detail)
Derivatives
Derivatives (Details)
Derivatives (Tables)
Derivatives - Gain (Loss) Included In Accumulated Other Comprehensive Loss (Details)
Derivatives - Outstanding Hedges (Details)
Discontinued Operations
Discontinued Operations (Details)
Discontinued Operations (Tables)
Discontinued Operations - Assets And Liabilities Of The Discontinued Operations (Details)
Discontinued Operations - Operating And Investing Cash Flow Information For Discontinued Operations (Details)
Discontinued Operations - Summary Of The Financial Results Of Our Discontinued Operations (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)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Tables)
Goodwill And Intangible Assets - Additional Information (Detail)
Goodwill And Intangible Assets - Goodwill Rollforward (Details)
Goodwill And Intangible Assets - Intangible Assets (Detail)
Income Taxes
Income Taxes (Tables)
Income Taxes - Additional Information (Detail)
Income Taxes - Components Of Income (Loss) Before Income Taxes (Detail)
Income Taxes - Income Tax Provision (Detail)
Income Taxes - Reconciliation Of Changes In Unrecognized Tax Benefits (Detail)
Income Taxes - Reconciliation Of Federal Statutory Rate To Effective Income Tax Rate (Detail)
Income Taxes - Tax Effects On Deferred Tax Assets And Deferred Tax Liabilities (Detail)
Leases (Notes)
Leases (Tables)
Leases - Components Of Lease Expense (Details)
Leases - Maturities Of Lease Liabilities (Details)
Leases - Narrative (Details)
Leases - Supplemental Balance Sheet Information (Details)
Leases - Supplemental Cash Flow Information (Details)
Legal Proceedings
Merchandise Inventories
Merchandise Inventories - Additional Information (Detail)
Net Loss Per Common Share
Net Loss Per Common Share (Tables)
Net Loss Per Common Share - Summary Of Calculation Of Net Income Per Share (Detail)
Property And Equipment
Property And Equipment (Detail)
Property And Equipment (Tables)
Property And Equipment - Additional Information (Detail)
Retirement Plans
Retirement Plans (Tables)
Retirement Plans - Additional Information (Detail)
Retirement Plans - Amounts Recognized As Component Of Accumulated Other Comprehensive Loss, Domestic (Detail)
Retirement Plans - Components Of Net Periodic Benefit Cost For Domestic Retirement Plans (Detail)
Retirement Plans - Domestic Retirement Plan's Financial Status And Amounts Recognized In Consolidated Balance Sheets (Detail)
Retirement Plans - Expected Benefit Payments Required For Domestic Retirement Plan (Detail)
Segment Information
Segment Information (Tables)
Segment Information - Consolidated Total Assets (Details)
Segment Information - Financial Information By Geographical Area (Details)
Segment Information - Financial Information By Segment (Detail)
Share-Based Compensation
Share-Based Compensation (Tables)
Share-Based Compensation - Activity And Value Of Nonvested Restricted Stock And Performance Share Awards (Detail)
Share-Based Compensation - Additional Information (Detail)
Shareholders' Equity
Shareholders' Equity - Additional Information (Detail)
Significant Risks And Uncertainties
Significant Risks And Uncertainties - Additional Information (Detail)
Subsequent Events (Details)
Subsequent Events (Notes)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies - Summary Of Significant Accounting Policies (Details)
Summary Of Significant Accounting Policies Summary Of Significant Accounting Policies (Tables)
Ticker: OMI
CIK: 75252
Form Type: 10-K Annual Report
Accession Number: 0000075252-20-000021
Submitted to the SEC: Wed Mar 04 2020 4:54:20 PM EST
Accepted by the SEC: Wed Mar 04 2020
Period: Tuesday, December 31, 2019
Industry: Wholesale Medical Dental And Hospital Equipment And Supplies

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