April 20, 2009 / 10:35 PM / 10 years ago

UPDATE 1-Owens & Minor Q1 profit misses Street view

* Q1 EPS $0.54 from cont ops vs est. of $0.60

* Q1 revenue up 13 percent to $1.95 bln

* Maintains 2009 profit view

April 20 (Reuters) - Owens & Minor Inc (OMI.N), a distributor of medical and surgical supplies, posted a 42 percent drop in net profit, which also missed market estimates, hurt by the sale of its direct-to-consumer (DTC) diabetes supply business.

The company, which backed its 2009 profit forecast, posted a first-quarter net income of $14.0 million, or 34 cents a share, compared with $24.2 million, or 59 cents a share, a year ago.

Results included a loss of $8.4 million, or 20 cents a share, from discontinued operations that resulted mainly from pre-tax charges related to the sale of the DTC business.

The Mechanicsville, Virginia-based company said it still expects 2009 earnings of $2.55 to $2.70 per share from continuing operations.

The company said it was looking at revenue growth of 8 percent to 12 percent for the year.

Shares of the company closed at $35.73 Monday on the New York Stock Exchange.

For the alerts, double-click [ID:nWNAB5184]

For the company press release, double-click [ID:nBw206517a] (Reporting by Vidya L Nathan in Bangalore; Editing by Himani Sarkar)

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