Hill-Rom sees growth in first quarter of new financial year

Hill-Rom has published encouraging financial results for the three months ending on December 31st 2010, the first quarter of its 2010-11 fiscal year.

The medical device manufacturer generated revenue of $374 million (232.42 million pounds) during the quarter, up by five percent year-on-year, while net income rose by 78 percent in the same timeframe.

During the period, the firm saw growth in its international and North American acute care business units, while also completing the acquisition of its minority interest in the existing Encompass joint venture.

This latter move will improve Hill-Rom's standing in the surface replacement market and is expected to allow it to achieve better service integration and sales channel alignment.

For the full year, Hill-Rom now expects to see a revenue growth of between five and seven percent in constant currency terms, up from its previous guidance of four to six percent.

John Greisch, president and chief executive officer of Hill-Rom, said: "We are pleased to report a solid first quarter, reflecting continuing improvement in the company's performance."