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STERIS STERIS Announces Financial Results for Fiscal 2022 First Quarter August 9 , 2021 • First quarter revenue increases 45 % as reported ; 21 % constant currency organic • Cantel Medical integration on track • Company increases outlook and raises quarterly dividend DUBLIN , IRELAND , Aug. 09 , 2021 ( GLOBE NEWSWIRE ) -- STERIS plc ( NYSE : STE ) ( “ STERIS " or the " Company " ) today announced financial results for its fiscal 2022 first quarter ended June 30 , 2021. Revenue as reported for the quarter increased 45 % to $ 968.4 million compared with $ 668.9 million in the first quarter of fiscal 2021. Constant currency organic revenue ( see Non - GAAP Financial Measures ) increased 21 % for the first quarter of fiscal 2022 as compared to the first quarter of fiscal 2021 , which was negatively impacted by the pandemic . " We are pleased to report a strong start to our new fiscal year , " said Dan Carestio , President and Chief Executive Officer of STERIS . " We are well underway with our integration efforts for Cantel Medical and are making good progress on that front . Based on our performance in the first quarter and expectations for the full fiscal year , we are updating our outlook for fiscal 2022 to reflect better than anticipated performance across the company . " As reported , net loss for the first quarter was $ 21.8 million or ( $ 0.24 ) per diluted share , compared with net income of $ 89.6 million or $ 1.05 per diluted share in the first quarter of fiscal 2021. Fiscal 2022 first quarter was negatively impacted by approximately $ 140 million in one - time expenses associated with the Cantel Medical acquisition . Adjusted net income ( see Non - GAAP Financial Measures ) for the first quarter of fiscal 2022 was $ 159.9 million or $ 1.76 per diluted share , compared with the previous year's first quarter of $ 113.3 million or $ 1.32 per diluted share . First Quarter Segment Results Healthcare revenue as reported grew 51 % in the quarter to $ 602.8 million compared with $ 399.7 million in the first quarter of fiscal 2021 , with $ 95.8 million added from acquisitions during the quarter . Constant currency organic revenue increased 25 % for the quarter . This performance reflected a 147 % increase in consumable revenue , a 31 % increase in service revenue and an 18 % improvement in capital equipment revenue . Healthcare operating income was $ 136.2 million compared with $ 84.2 million in last year's first quarter . The increase in profitability was primarily due to the increase in organic volume and acquired businesses . Fiscal 2022 first quarter revenue for Applied Sterilization Technologies ( AST ) increased 37 % as reported to $ 208.9 million compared with $ 152.4 million in the same period last year . Constant currency organic revenue increased 27 % , driven primarily by increased demand from medical device Customers in the quarter . Segment operating income was $ 101.9 million in the first quarter of fiscal 2022 compared with operating income of $ 64.0 million in the same period last year primarily due to increased volume . Life Sciences first quarter revenue as reported grew 4 % to $ 121.5 million compared with $ 116.9 million in the first quarter of fiscal 2021. Growth was driven by a 17 % improvement in service revenue and an 8 % increase in capital equipment revenue which were partially offset by a 4 % decline in consumable revenue . Constant currency organic revenue declined 1 % in the quarter reflecting the strong growth experienced in the first quarter of last year . Operating income was $ 49.1 million in the first quarter of fiscal 2022 compared with $ 48.5 million in the prior year's first quarter . Dental , which reflects one month of financial performance , reported revenue of $ 35.2 million and operating income of $ 10.1 million . Cash Flow Net cash provided by operations for the first quarter of fiscal 2022 was $ 97.4 million , compared with $ 134.1 million for the same period in fiscal 2021 . Free cash flow ( see Non - GAAP Financial Measures ) for the first quarter of fiscal 2022 was $ 41.2 million compared with $ 67.4 million in the prior year period . The decrease in free cash flow is primarily due to anticipated costs associated with the Cantel Medical acquisition . Fiscal 2022 Outlook STERIS now expects as reported revenue of approximately $ 4.6 billion , an increase from prior expectations of $ 4.5 billion . Constant currency organic revenue growth is now expected to be in the range of 10-11 % for fiscal 2022 , reflecting revenue recovery across the business , with specific strength in Healthcare and AST . Prior expectations were for constant currency organic revenue growth of 8-9 % . Reflecting June 30 , 2021 forward rates , currency movements are anticipated to be favorable to revenue by approximately $ 30 million for fiscal 2022. Adjusted earnings per diluted share are anticipated to be in the range of $ 7.60 - $ 7.85 , compared to prior expectations of $ 7.40 - $ 7.65 . The company continues to plan on an adjusted effective tax rate of 21-22 % and a slightly lower than planned share count of approximately 98.5 million diluted shares for fiscal 2022 . Free cash flow for fiscal 2022 is now expected to be approximately $ 400 million , an increase of $ 20 million compared with original expectations . Capital spending is unchanged and anticipated to be approximately $ 320 million for the combined company . Dividend Announcement STERIS's Board of Directors has approved a $ 0.03 increase in the quarterly interim dividend to $ 0.43 per share . The dividend is payable September 24 , 2021 to shareholders of record at the close of business on September 3 , 2021 . Conference Call As previously announced , STERIS management will host a conference call tomorrow , August 10 , 2021 at 10:00 a.m. ET . The conference call can be heard at www.steris-ir.com or via phone by dialing 1-833-535-2199 in the United States or 1-412-902-6776 internationally , then asking to join the conference call for STERIS plc . For those unable to listen to the conference call live , a replay will be available beginning at 12:00 p.m. ET on August 10 , 2021 , either at www.steris ir.com or via phone . To access the replay of the call , please use the access code 10158778 and dial 1-877-344-7529 in the United States or