Owens & Minor 1Q Sales Up 1.1% - Modern Distribution Management

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Owens & Minor 1Q Sales Up 1.1%

Profit for the pharmaceutical distributor more than doubled compared to first quarter 2009.
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Owens & Minor (NYSE: OMI), Richmond, VA, reported sales of $1.97 billion for the first quarter of 2010, an increase of 1.1 percent over first quarter 2009. Profit was $27.8 million, compared to profit of $14.0 million a year ago.

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\”Our results for the first quarter demonstrated strength in asset management and discipline in expense control,\” said Craig R. Smith, president and CEO. \”However, we believe our first quarter revenue results were affected by weakness in the utilization of healthcare services.\”

Owens & Minor, Inc. is a national distributor of name-brand medical and surgical supplies and a healthcare supply-chain management company.

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