Hillenbrand Industries (HB) Issues Guidance for Hill-Rom Holdings and Batesville Holdings
Hillenbrand Industries, Inc. (NYSE: HB) filed materials with the Securities and Exchange Commission (SEC) associated with investor communications related to the upcoming separation of its two operating companies: Hill-Rom, the company's medical technology business, and Batesville Casket, the company's death care business. The separation is expected to be completed by the end of March pending final clearance of the Form 10 of Batesville Holdings, Inc., to be the parent company for Batesville Casket, originally filed November 5, 2007 and last amended on March 13, 2008.
For fiscal year 2008, Hill-Rom Holdings, which will be the new name of Hillenbrand Industries following the separation, continues to expect revenue of $1.427 - 1.476 billion. Capital sales are expected to be in the range of $0.991 - 1.022 billion while Hill-Rom rental revenues are expected to be between $435 - 454 million. Hill-Rom projects GAAP earnings per fully diluted share of $1.11 - 1.30, with adjusted earnings per fully diluted share of $1.13 - 1.32.
Batesville Holdings, Inc, to be the parent company of Batesville Casket, will change its name to Hillenbrand, Inc. in connection with the separation. For fiscal year 2008, Batesville continues to expect revenue of $668 - 686 million, with GAAP earnings per fully diluted share of $1.27 - 1.47, and adjusted fully diluted earnings per share of $1.64 - 1.79. Adjusted fully diluted earnings exclude the effects of the anticipated equity compensation modification and other separation-related costs estimated to be $16 - 18 million (pre-tax) and anti-trust litigation costs in 2008.
For fiscal year 2008, Hill-Rom Holdings, which will be the new name of Hillenbrand Industries following the separation, continues to expect revenue of $1.427 - 1.476 billion. Capital sales are expected to be in the range of $0.991 - 1.022 billion while Hill-Rom rental revenues are expected to be between $435 - 454 million. Hill-Rom projects GAAP earnings per fully diluted share of $1.11 - 1.30, with adjusted earnings per fully diluted share of $1.13 - 1.32.
Batesville Holdings, Inc, to be the parent company of Batesville Casket, will change its name to Hillenbrand, Inc. in connection with the separation. For fiscal year 2008, Batesville continues to expect revenue of $668 - 686 million, with GAAP earnings per fully diluted share of $1.27 - 1.47, and adjusted fully diluted earnings per share of $1.64 - 1.79. Adjusted fully diluted earnings exclude the effects of the anticipated equity compensation modification and other separation-related costs estimated to be $16 - 18 million (pre-tax) and anti-trust litigation costs in 2008.
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