Steris Corp. (STE) has seen earnings per share top analysts’ expectations by an impressive 40%, on average, over the past 4 quarters in a row. During roughly the same time frame, the company’s share price outperformed the Dow ($DJI), S&P 500 (SPX) and Nasdaq (COMP) by double digits.

Company Description

Steris Corporation provides infection prevention and surgical products and services to the healthcare and pharmaceutical industries.

The Company employs more than 5,000 employees around the world with the mission of providing a healthier today and a safer tomorrow through knowledgeable people and innovative infection prevention, decontamination and health science technologies, products and services.

Wall Street Sees Growth

Analysts are upbeat on estimates, calling for earnings of $1.77 per share for the fiscal year ending March 2009, which is up from $1.72 over the past 2 months. For the following year, analysts are forecasting $1.83 per share, versus the 2 months-ago level of $1.72.

Based on the projections, fiscal 2009 will see earnings growth of 26%, while 2010 will advance by 3.5%. The company’s earnings per share are expected to grow about 15% over the next 3 – 5 years, which is in line with the industry average.

Competitive Income

Steris pays an annual dividend of 32 cents per share, which translates into a dividend yield of 1.6%.

The income shareholders receive from STE is well above the industry average as most of the company’s peers pay no dividends.

Strong Quarter

Steris posted solid fiscal third-quarter results. Revenues jumped 2% year-over-year, while net income of $28.6 million topped the year-prior $21.8 million.

Excluding charges, earnings per share totaled 53 cents, compared to the previous year’s 35 cents and the consensus estimate of 37 cents.

Steris has produced impressive surprises on earnings, topping analysts’ earnings per share estimates by an average of 40% over the past 4 consecutive quarters.

Zacks Investment Research
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