STERIS Corp. (STE, Financial) filed Quarterly Report for the period ended 2011-12-31.
Steris Corp. has a market cap of $1.77 billion; its shares were traded at around $30.59 with a P/E ratio of 14.5 and P/S ratio of 1.5. The dividend yield of Steris Corp. stocks is 2.2%. Steris Corp. had an annual average earning growth of 5.7% over the past 10 years.
Revenues increased $186.9 million, or 22.5%, to $1,016.6 million for the first nine months of fiscal 2012. The first nine months of fiscal 2011 was negatively impacted by the SYSTEM 1 Rebate Program. Adjusted revenues, excluding the impact of the SYSTEM 1 Rebate Program, for the first nine months of fiscal 2011 were $932.0 million (see subsection of MD&A titled "Non-GAAP Financial Measures" for additional information and related reconciliation of non-GAAP financial measures to the most comparable GAAP measures). Capital equipment revenues increased $182.8 million or 71.3%. The prior year period was negatively impacted by the SYSTEM 1 Rebate Program. Capital equipment revenues increased 22.5% when compared to adjusted capital equipment revenues for the first nine months of fiscal 2011 of $358.7 million (see subsection of MD&A titled "Non-GAAP Financial Measures" for additional information and related reconciliation of non-GAAP financial measures to the most comparable GAAP measures). The increase was driven by improved demand within all geographies -- North America, Europe, Asia Pacific and Latin America. Recurring revenues increased $4.1 million or 0.7% for the first nine months of fiscal 2012 as a result of weaker demand in the United States for SYSTEM 1 consumables partially offset the impact of growth internationally in consumables and service.
Healthcare revenues increased $21.2 million, or 8.9%, to $259.1 million for the quarter ended December 31, 2011, as compared to $237.8 million for the same prior year quarter. The increase is primarily attributable to growth in revenues within infection prevention technologies, including revenues for SYSTEM 1E related products and services, which were somewhat offset by the year over year decline in SYSTEM 1 related products and services. The increase in capital equipment revenues was partially offset by decline of 6.6% and 1.3% in consumable and service revenues, respectively. The decline in consumable revenues was driven by lower demand in the United States for SYSTEM 1 consumables. Healthcare revenues increased $163.7 million or 29.1%, to $725.5 million for the first nine months of fiscal 2012. The prior year period was negatively impacted by the SYSTEM 1 Rebate Program. Adjusted revenues for the prior year first nine months were $664.0 million (see subsection of MD&A titled "Non-GAAP Financial Measures" for additional information and related reconciliation of non-GAAP financial measures to the most comparable GAAP measures). Compared to the adjusted revenues for the prior year first nine months, Healthcare revenues grew 9.2%. At December 31, 2011, the Healthcare segment s backlog amounted to $135.8 million, decreasing $33.2 million, or 19.7%, compared to the backlog of $169.0 million at December 31, 2010. Backlog at December 31, 2011 decreased $2.9 million, or 2.1%, compared to the backlog of $138.6 million at March 31, 2011.
Life Sciences revenues increased $4.6 million, or 9.1%, to $55.9 million for the quarter ended December 31, 2011, as compared to $51.2 million for the same prior year quarter. The increase in Life Sciences revenues was driven by increases of 24.6% in capital equipment revenues and 4.3% in consumable revenues. Services revenues declined 0.9%. The increase in capital equipment revenues was primarily the result of increased revenues in the United States and Asia Pacific. The increase is attributable, in part, to replacement product purchases from pharmaceutical Customers. For the first nine months of fiscal 2012, Life Sciences revenues increased $16.3 million, or 10.8%, to $167.7 million compared to $151.4 million in the first nine months of fiscal 2011. The increase in Life Sciences revenues was driven by increases of 22.8%, 9.1% and 1.2% in capital equipment, consumables, and service revenues, respectively. While this is a positive development, the prior year first nine month periods provided a relatively low base for comparison. At December 31, 2011, the Life Sciences segment s backlog amounted to $45.0 million, increasing $2.5 million, or 5.9% compared to the backlog of $42.5 million at December 31, 2010. Backlog at December 31, 2011 increased $4.3 million, or 10.7%, compared to the backlog of $40.7 million at March 31, 2011.
Since we conduct operations outside of the United States using various foreign currencies, our operating results are impacted by foreign currency movements relative to the U.S. dollar. During the third quarter of fiscal 2012, our revenues were unfavorably impacted by $0.1 million, or 0.1%, and income before taxes was favorably impacted by $1.9 million, or 3.9%, as a result of foreign currency movements relative to the U.S. dollar. During the first nine months of fiscal 2012, our revenues were favorably impacted by $7.7 million, or 0.8%, and income before taxes was unfavorably impacted by $2.6 million, or 1.8%, as a result of foreign currency movements relative to the U.S. dollar.
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Steris Corp. has a market cap of $1.77 billion; its shares were traded at around $30.59 with a P/E ratio of 14.5 and P/S ratio of 1.5. The dividend yield of Steris Corp. stocks is 2.2%. Steris Corp. had an annual average earning growth of 5.7% over the past 10 years.
Highlight of Business Operations:
Revenues increased $26.9 million, or 8.2%, to $355.2 million for the quarter ended December 31, 2011, as compared to $328.3 million for the same prior year quarter. Capital equipment revenues increased $30.2 million, or 22.3%, in the third quarter of fiscal 2012, as compared to the third quarter of fiscal 2011. Capital equipment revenues increased in both the Healthcare and Life Sciences segments. Within Healthcare, the increase was primarily attributable to shipments of SYSTEM 1E units. Consumable revenues declined $3.4 million, or 4.4%, for the quarter ended December 31, 2011, as compared to the prior year quarter, attributable to reductions in SYSTEM 1 consumables within the Healthcare segment which were partially offset by growth in consumables within the Life Sciences segment. Service revenues increased $0.2 million, or 0.1%, in the third quarter of fiscal 2012 reflecting growth in Isomedix offset by declines in Healthcare and Life Sciences.Revenues increased $186.9 million, or 22.5%, to $1,016.6 million for the first nine months of fiscal 2012. The first nine months of fiscal 2011 was negatively impacted by the SYSTEM 1 Rebate Program. Adjusted revenues, excluding the impact of the SYSTEM 1 Rebate Program, for the first nine months of fiscal 2011 were $932.0 million (see subsection of MD&A titled "Non-GAAP Financial Measures" for additional information and related reconciliation of non-GAAP financial measures to the most comparable GAAP measures). Capital equipment revenues increased $182.8 million or 71.3%. The prior year period was negatively impacted by the SYSTEM 1 Rebate Program. Capital equipment revenues increased 22.5% when compared to adjusted capital equipment revenues for the first nine months of fiscal 2011 of $358.7 million (see subsection of MD&A titled "Non-GAAP Financial Measures" for additional information and related reconciliation of non-GAAP financial measures to the most comparable GAAP measures). The increase was driven by improved demand within all geographies -- North America, Europe, Asia Pacific and Latin America. Recurring revenues increased $4.1 million or 0.7% for the first nine months of fiscal 2012 as a result of weaker demand in the United States for SYSTEM 1 consumables partially offset the impact of growth internationally in consumables and service.
Healthcare revenues increased $21.2 million, or 8.9%, to $259.1 million for the quarter ended December 31, 2011, as compared to $237.8 million for the same prior year quarter. The increase is primarily attributable to growth in revenues within infection prevention technologies, including revenues for SYSTEM 1E related products and services, which were somewhat offset by the year over year decline in SYSTEM 1 related products and services. The increase in capital equipment revenues was partially offset by decline of 6.6% and 1.3% in consumable and service revenues, respectively. The decline in consumable revenues was driven by lower demand in the United States for SYSTEM 1 consumables. Healthcare revenues increased $163.7 million or 29.1%, to $725.5 million for the first nine months of fiscal 2012. The prior year period was negatively impacted by the SYSTEM 1 Rebate Program. Adjusted revenues for the prior year first nine months were $664.0 million (see subsection of MD&A titled "Non-GAAP Financial Measures" for additional information and related reconciliation of non-GAAP financial measures to the most comparable GAAP measures). Compared to the adjusted revenues for the prior year first nine months, Healthcare revenues grew 9.2%. At December 31, 2011, the Healthcare segment s backlog amounted to $135.8 million, decreasing $33.2 million, or 19.7%, compared to the backlog of $169.0 million at December 31, 2010. Backlog at December 31, 2011 decreased $2.9 million, or 2.1%, compared to the backlog of $138.6 million at March 31, 2011.
Life Sciences revenues increased $4.6 million, or 9.1%, to $55.9 million for the quarter ended December 31, 2011, as compared to $51.2 million for the same prior year quarter. The increase in Life Sciences revenues was driven by increases of 24.6% in capital equipment revenues and 4.3% in consumable revenues. Services revenues declined 0.9%. The increase in capital equipment revenues was primarily the result of increased revenues in the United States and Asia Pacific. The increase is attributable, in part, to replacement product purchases from pharmaceutical Customers. For the first nine months of fiscal 2012, Life Sciences revenues increased $16.3 million, or 10.8%, to $167.7 million compared to $151.4 million in the first nine months of fiscal 2011. The increase in Life Sciences revenues was driven by increases of 22.8%, 9.1% and 1.2% in capital equipment, consumables, and service revenues, respectively. While this is a positive development, the prior year first nine month periods provided a relatively low base for comparison. At December 31, 2011, the Life Sciences segment s backlog amounted to $45.0 million, increasing $2.5 million, or 5.9% compared to the backlog of $42.5 million at December 31, 2010. Backlog at December 31, 2011 increased $4.3 million, or 10.7%, compared to the backlog of $40.7 million at March 31, 2011.
Since we conduct operations outside of the United States using various foreign currencies, our operating results are impacted by foreign currency movements relative to the U.S. dollar. During the third quarter of fiscal 2012, our revenues were unfavorably impacted by $0.1 million, or 0.1%, and income before taxes was favorably impacted by $1.9 million, or 3.9%, as a result of foreign currency movements relative to the U.S. dollar. During the first nine months of fiscal 2012, our revenues were favorably impacted by $7.7 million, or 0.8%, and income before taxes was unfavorably impacted by $2.6 million, or 1.8%, as a result of foreign currency movements relative to the U.S. dollar.
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