Hillenbrand, Inc. (HI: Quote) said it has completed its acquisition of privately held Coperion Capital GmbH for a purchase price of approximately 419 million euros or $545 million, which included the assumption of approximately 87 million euros of net debt and an estimated 100 million euros of pension liabilities.
Hillenbrand expects 2013 global revenue to be approximately $1.6 billion. Revenue from the Process Equipment Group is expected to exceed $1 billion and Batesville is anticipated to deliver approximately $600 million in revenue. Given current foreign exchange rates, management expects minimal translation impact to revenue compared to 2012.
Now that the Process Equipment Group represents over 60% of global revenue, the fourth quarter of 2013 ending September 30th, is expected to be the largest from both a revenue and earnings perspective.
Adjusted earnings per share for 2013 are projected to range from $1.82 to $1.92. Accretion from the Coperion acquisition is expected to exceed $0.20. The estimate also takes into account changes to employee compensation and benefits, taxes and other estimates that impacted adjusted earnings per share favorably in 2012 by approximately $0.13, which are not expected to recur in 2013.
Analysts polled by Thomson Reuters expect the company to report earnings of $1.86 per share on revenues of $1.35 billion for fiscal 2013. Analysts’ estimates typically exclude special items.
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by RTT Staff Writer
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