Steris PLC (NYSE:STE) stock rose 3.54% (As on May 12, 11:33:01 AM UTC-4, Source: Google Finance) after the company reported lower profit in the fourth quarter, impacted by amortization of acquired intangibles and one-time acquisition expenses totaling approximately $198.3 million. In the fourth quarter, the company posted net income of $52.3 million lower than $87.4 million in the same period last year. Healthcare revenue grew 32% in the quarter to $738.8 million compared with $561.8 million in the fourth quarter of fiscal 2021, with $141.7 million added from acquisitions during the quarter. Fiscal 2022 fourth quarter revenue for Applied Sterilization Technologies (AST) increased 19% as reported to $222.9 million compared with $187.5 million in the same period last year. Life Sciences fourth quarter revenue as reported grew 15% to $143.3 million compared with $124.2 million in the fourth quarter of fiscal 2021. The growth was driven by a 18% increase in consumable revenue, a 14% improvement in service revenue and a 13% increase in capital equipment revenue. Dental fourth quarter revenue was $105.7 million and operating income was $18.8 million.

STE in the fourth quarter of FY 22 has reported the adjusted earnings per share of $2.04, beating the analysts’ estimates for the adjusted earnings per share of $2.02. The company had reported the adjusted revenue growth of 39.1 percent to $1.21 billion in the fourth quarter of FY 22, beating the analysts’ estimates for revenue of $1.19 billion. Net cash provided by operations for fiscal 2022 was $684.8 million, compared with $689.6 million in fiscal 2021. Free cash flow (see Non-GAAP Financial Measures) for fiscal 2022 was $399.0 million compared with $450.9 million in the prior year period. The decrease in free cash flow is primarily due to anticipated costs associated with the Cantel Medical acquisition and higher capital spending year-over-year.

Looking ahead, in full year 2023, reported revenue is expected to increase around 12 percent, reflecting the net impact of acquisitions and divestitures as well as the anticipated negative impact of foreign currency fluctuations. Adjusted earnings per share for the year ahead are anticipated to be in the range of $8.55 to $8.75, while 6 analysts polled by Thomson Reuters expect the company to post earnings of $8.19 per share in fiscal 2023. Capital expenditures are anticipated to be approximately $330 million and free cash flow is expected to be approximately $675 million.