Henrico County-based Owens & Minor reported a 7.8 percent increase in revenue during the first quarter on increased new and existing business.
The medical and surgical supplier reported revenues of $2.12 billion for the quarter, compared with $1.97 billion during the first quarter of 2010. Profit was up slightly to $28.7 million, compared with $27.8 million last year.
“We are off to a solid start in 2011 with revenue growth resulting from both new business and increased sales to our existing customers,“ Craig R. Smith, president and CEO of Owens & Minor, said in a statement.
The company also reaffirmed its target revenue growth for the year of between 3 and 5 percent.
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