Owens & Minor 2nd-qtr up 29 percent

Owens & Minor Inc., a distributor of medical and surgical supplies, said Monday that its net income jumped 29 percent in the second quarter because of continued development of its technology and business consulting business.

The company reported that net income rose to $23.6 million, or 57 cents per share, for the June quarter, from $18.3 million, or 45 cents per share, reported last year.

Revenue rose 6.9 percent to $1.79 billion from $1.68 billion.

On average, analysts surveyed by Thomson Financial forecast a profit of 56 cents per share on revenue of $1.77 billion.

"Record quarterly revenue and solid growth in earnings in the second quarter demonstrate that we are on the right track for 2008," Craig Smith, president and chief executive of Owens & Minor, said in a statement.