Owens & Minor Stock Drops Despite Decline In Q1 Loss

(RTTNews) - Stock of Owens & Minor, Inc. (OMI) is falling over 21 percent on Friday despite reporting a substantial improvement in loss for the first quarter.

Net loss totaled $21.9 million or $0.29 per share versus $24.4 million or $0.32 per share in year-ago quarter.

On adjusted basis, earnings stood at $14.9 million or $0.19 per share, compared to $3.6 million or $0.05 per share last year.

Revenue increased to $2.6 billion from previous year's $2.5 billion.

Currently, Owens & Minor's stock is moving down 21.52 percent, to $19.24 over the previous close of $24.51 on the New York Stock Exchange. It has traded between $13.64 and $28.35 in the last one year.