Hill-Rom raises financial targets for 2016 following strong first quarter

Hill-Rom has raised its financial growth targets for 2016, following the strong double-digit growth it achieved during the first quarter.

The company recently published its financial report for the three months ending on December 31st 2015, during which it achieved a revenue total of $661 million (456.49 million pounds), representing a year-on-year increase of 42 percent.

This rise was driven primarily by the broadening of Hill-Rom's capabilities following last year's acquisition of Welch Allyn, as well as the strength of its performance in the North American market.

Based on these better-than-expected financial results, the firm has raised its full-year adjusted earnings per diluted share range to $3.24 to $3.30, up from $3.08 to $3.14 previously.

For the second quarter of fiscal 2016, Hill-Rom expects reported revenue of between $645 and $655 million, while for the full year a total of between $2.66 and $2.70 billion is anticipated.

John Greisch, Hill-Rom's president and chief executive officer, said: "We are pleased to report another quarter of strong revenue and adjusted earnings growth, and an improved full-year outlook."