Medical equipment and hospital bed maker Hill-Rom Holdings Inc. trimmed its fiscal 2012 profit forecast due to lower expected revenue growth and because a research and development tax credit was not reinstated this year.
The Batesville, Ind., company said late Tuesday that it expects adjusted earnings this fiscal year of $2.45 to $2.50 per share, and for revenue to grow 3 to 4 percent, excluding the impact of foreign currency.
It had previously forecast earnings of $2.45 to $2.55 per share and revenue growth of 4 to 5 percent.
Analysts surveyed by FactSet expected full-year earnings of $2.51 per share.
Order volumes in the company's North American acute care business declined from last year because of "challenging external conditions," said Hill-Rom CEO John Greisch in a statement. He added that international orders improved, but the company remains cautious due to the uncertainty of the global economy, particularly in Europe.
For the fiscal first quarter that ended on Dec. 31, Hill-Rom said it expects earnings of 52 to 53 cents per share on revenue of $381 million.
Analysts expected earnings of 56 cents per share on $392.2 million in revenue.
Hill-Rom will release its full first-quarter results on Jan. 25.