Hillenbrand Gains Off Session Highs Despite Solid Earnings

Published on Tuesday, 29 November 2011 12:38 Written by Paul Oldrini

New York, November 29th (TradersHuddle.com) – Hillenbrand, Inc. (NYSE: HI) increased 1.09% to $21.60, off session high of $22.46 following the company’s fiscal fourth-quarter results. Earnings rose 17% as gains from a recent acquisition boosted its process equipment segment's revenue. The results beat expectations, and the company projected results for the new fiscal year above forecasts.

For the period ended Sept. 30, the company reported earnings of $23.5 million, or $0.38 a share, up from $20.1 million, or $0.32 a share, a year earlier. Excluding acquisition-related charges, litigation and other impacts, adjusted earnings rose to $0.48 from $0.40 a share. Revenue increased 9.1% to $231.2 million. Analysts expected per-share earnings of 37 cents on revenue of $219 million.

For the new fiscal year, the company expects adjusted per-share earnings of $1.82 to $1.92 and revenue to increase between 13% and 17%. Analysts expected earnings of $1.79 a share and a 7% revenue increase.