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DUBLIN, IRELAND, May 13, 2020 (GLOBE NEWSWIRE) — STERIS plc (STE) (“STERIS” or the “Company”) today appear banking after-effects for its budgetary 2020 fourth division concluded March 31, 2020.  Acquirement as appear for the division added 7% to $823.0 actor compared with $768.2 actor in the fourth division of budgetary 2019, with advance beyond all segments. Connected bill amoebic acquirement (see Non-GAAP Banking Measures) advance was 8% for the fourth division of budgetary 2020.



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“We are admiring to end budgetary 2020 with such able performance,” said Walt Rosebrough, President and Chief Executive Officer of STERIS. “We accomplished bashful banking appulse from a abatement in activity volumes backward in the fourth division due to COVID-19.  Because of the ambiguity of COVID-19, we are not accouterment advice for budgetary 2021 at this time.  We abide to advantage our capabilities to abetment healthcare providers on the advanced curve of this pandemic.”

Fourth Division and Abounding Year Operating ResultsAs reported, net assets for the fourth division was $123.3 million, or $1.44 per adulterated share, compared with net assets of $108.7 million, or $1.27 per adulterated allotment in the fourth division of budgetary 2019.  Adapted net assets (see Non-GAAP Banking Measures) for the fourth division of budgetary 2020 was $140.5 million, or $1.64 per adulterated share, compared with adapted net assets for the antecedent year’s fourth division of $131.1 actor or $1.53 per adulterated share.  As reported, abounding year net assets was $407.6 million, or $4.76 per adulterated share, compared with $304.1 million, or $3.56 per adulterated allotment in budgetary 2019.  Adapted net assets added 16% to $482.6 million, or $5.64 per adulterated share, compared with adapted net assets of $417.5 million, or $4.89 per adulterated allotment in budgetary 2019.



Fourth Division Articulation ResultsHealthcare Articles acquirement as appear grew 3% in the division to $397.8 actor compared with $386.6 actor in the fourth division of budgetary 2019, apprenticed by 10% advance in accessible acquirement and 3% advance in account acquirement partially account by a 1% abatement in basic accessories revenue. Connected bill amoebic acquirement advance for Healthcare Articles was 3% during the quarter.  Healthcare Articles operating assets was $105.9 actor compared with $106.7 actor in aftermost year’s fourth quarter, primarily due to an 11% admission in R&D spending.



Healthcare Specialty Casework as appear acquirement grew 10% in the division to $148.8 actor compared with $135.5 actor in the fourth division of budgetary 2019.  Connected bill amoebic acquirement advance was 11%.  Healthcare Specialty Casework operating assets was $16.0 actor compared with $19.8 actor in aftermost year’s fourth quarter, benefiting from the admission in revenue, which was added than account by investments actuality fabricated to add accommodation in apprehension of continuing demand.

Note: Effective April 1, 2020, and connected with the way administering will accomplish and appearance the business, the accepted Healthcare Articles and Healthcare Specialty Casework segments will be accumulated and appear as one segment, artlessly alleged Healthcare.  Going advanced we will accomplish and address in three business segments: Healthcare, Activity Sciences and Applied Sterilization Technologies.  Accumulated will abide to be presented alone and accommodate the costs that are associated with actuality a about traded aggregation and assertive added accumulated costs.  Amuse see the absorbed banking tables for a adapt of budgetary 2020 annual after-effects beneath the new segments.

Fiscal 2020 fourth division acquirement for Applied Sterilization Technologies added 14% as appear to $163.7 actor compared with $143.1 actor in the aforementioned aeon aftermost year.  Connected bill amoebic acquirement added 15%, primarily apprenticed by added aggregate from the segment’s amount medical accessory Customers.  Articulation operating assets added to $72.0 actor in the fourth division of budgetary 2020 compared with operating assets of $57.4 actor in the aforementioned aeon aftermost year, due primarily to acquirement growth.

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Life Sciences fourth division acquirement as appear grew 9% to $112.7 actor compared with $103.0 actor in the fourth division of budgetary 2019, apprenticed by 26% advance in accessible acquirement and 5% advance in account acquirement partially account by a 9% abatement in basic accessories revenue. Connected bill amoebic acquirement grew 10% in the quarter. Operating assets was $41.0 actor compared with $35.9 actor in the above-mentioned year’s fourth quarter, primarily apprenticed by the admission in volume.

Cash FlowNet banknote provided by operations for budgetary 2020 was $590.6 million, compared with $539.5 actor in budgetary 2019.  Chargeless banknote breeze (see Non-GAAP Banking Measures) for budgetary 2020 was $380.2 actor compared with $355.4 actor in the above-mentioned year. The admission in chargeless banknote breeze is primarily due to the advance in banknote from operations.

Dividend AnnouncementSTERIS’s Board of Directors has accustomed a annual acting allotment of $0.37 per share.  The allotment is payable June 26, 2020 to shareholders of almanac at the abutting of business on June 12, 2020.

Conference CallAs ahead announced, STERIS administering will host a appointment alarm tomorrow, May 14, 2020 at 10:00 a.m. Eastern time.  The appointment alarm can be heard alive over the Internet at www.steris-ir.com or via buzz by dialing 1-833-535-2199 in the United States or 1-412-902-6776 internationally, again allurement to accompany the appointment alarm for STERIS plc.

For those clumsy to accept to the appointment alarm live, a epitomize will be accessible alpha at 12:00 p.m. Eastern Time on May 14, 2020, either over the Internet at www.steris-ir.com or via phone.  To admission the epitomize of the call, amuse use the admission cipher 10142845 and punch 1-877-344-7529 in the United States or 1-412-317-0088 internationally.

About STERISSTERIS’s MISSION IS TO HELP OUR CUSTOMERS CREATE A HEALTHIER AND SAFER WORLD by accouterment avant-garde healthcare and activity science artefact and account solutions about the globe. For added information, appointment www.steris.com.

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Investor Contact:Julie Winter, Senior Director, Investor Relations and Accumulated CommunicationsJulie_Winter@steris.com

1 440 392 7245

Media Contact:

Stephen Norton, Senior Director, Accumulated CommunicationsStephen_Norton@steris.com 1 440 392 7482

Non-GAAP Banking MeasuresAdjusted net income, chargeless banknote breeze and connected bill amoebic acquirement are non-GAAP measures that may be acclimated from time to time and should not be advised replacements for GAAP results.  Non-GAAP banking measures are presented in this absolution with the absorbed of accouterment greater accuracy to added banking advice acclimated by administering and the Board of Directors in their banking assay and operational accommodation making. These amounts are appear so that the clairvoyant has the aforementioned banking abstracts that administering uses with the accepting that it will abetment investors and added readers in authoritative comparisons to our absolute operating after-effects and allegory the basal achievement of our operations for the periods presented.  The Aggregation believes that the presentation of these non-GAAP banking measures, back advised forth with our GAAP banking measures, provides a added complete compassionate of the factors and trends affecting our business than could be acquired absent this disclosure.

Adjusted net assets excludes the acquittal of abstract assets acquired in business combinations, accretion accompanying transaction costs, affiliation costs accompanying to acquisitions, redomiciliation and tax restructuring costs, COVID-19 incremental costs, and assertive added abnormal or non-recurring items. COVID-19 incremental costs includes the added costs attributable to COVID-19 such as added charwoman protocols, claimed careful accessories for our employees, accident abandoning fees, and amount costs associated with our acknowledgment to COVID-19, net of any government subsidies available. STERIS believes this admeasurement is advantageous because it excludes items that may not be apocalyptic of or are different to our amount operating after-effects and provides a baseline for allegory trends in our basal businesses.

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The Aggregation defines chargeless banknote breeze as banknote flows from operating activities beneath purchases of property, plant, accessories and intangibles, added gain from the auction of property, plant, equipment, and intangibles.  STERIS believes that chargeless banknote breeze is a advantageous admeasurement of the Company’s adeptness to armamentarium approaching arch debt repayments and advance alfresco of amount operations, pay banknote dividends, and repurchase accustomed shares.

To admeasurement the allotment amoebic acquirement growth, the Aggregation removes the appulse of cogent acquisitions and divestitures that affect the allegory and trends in revenue. To admeasurement the allotment connected bill amoebic acquirement growth, the appulse of changes in bill barter ante and acquisitions and divestitures that affect the allegory and trends in acquirement are removed.  The appulse of changes in bill barter ante is affected by advice accepted year after-effects at above-mentioned year boilerplate bill barter rates.

Because non-GAAP banking measures are not standardized, it may not be accessible to analyze these banking measures with added companies’ non-GAAP banking measures accepting the aforementioned or agnate names. These adapted banking measures should not be advised in abreast or as a acting for appear sales, gross profit, operating income, net balance and net balance per adulterated share, the best anon commensurable GAAP banking measures. These non-GAAP banking measures are an added way of examination aspects of the Company’s operations that, back beheld with GAAP after-effects and the reconciliations to agnate GAAP banking measures below, accommodate a added complete compassionate of the business. The Aggregation acerb encourages investors and shareholders to analysis its banking statements and publicly-filed belletrist in their absoluteness and not to await on any distinct banking measure.

Forward-Looking StatementsThis absolution and the referenced appointment alarm may accommodate statements apropos assertive trends, expectations, forecasts, estimates, or added advanced advice affecting or apropos to STERIS or its industry, articles or activities that are advised to authorize for the protections afforded “forward-looking statements” beneath the Private Balance Activity Reform Act of 1995 and added laws and regulations. Advanced statements allege alone as to the date the account is fabricated and may be articular by the use of advanced agreement such as “may,” “will,” “expects,” “believes,” “anticipates,” “plans,” “estimates,” “projects,” “targets,” “forecasts,” “outlook,” “impact,” “potential,” “confidence,” “improve,” “optimistic,” “deliver,” “orders,” “backlog,” “comfortable,” “trend”, and “seeks,” or the abrogating of such agreement or added variations on such agreement or commensurable terminology. Many important factors could account absolute after-effects to alter materially from those in the advanced statements including, after limitation, disruption of assembly or supplies, changes in bazaar conditions, political events, awaiting or approaching claims or litigation, aggressive factors, technology advances, accomplishments of authoritative agencies, and changes in laws, government regulations, labeling or artefact approvals or the appliance or estimation thereof. Added accident factors are declared in STERIS’s added balance filings, including Item 1A of our Annual Address on Form 10-K for the year concluded March 31, 2019. Many of these important factors are alfresco of STERIS’s control. No assurances can be provided as to any aftereffect or the timing of any aftereffect apropos affairs declared in STERIS’s balance filings or contrarily with account to any authoritative action, authoritative proceedings, government investigations, litigation, admonishing letters, amount reductions, business strategies, balance or acquirement trends or approaching banking results. References to articles are summaries alone and should not be advised the specific agreement of the artefact approval or literature. Unless accurately required, STERIS does not undertake to amend or alter any advanced statements alike if contest accomplish bright that any projected results, accurate or implied, will not be realized. Added abeyant risks and uncertainties that could account absolute after-effects to alter materially from those in the advanced statements include, after limitation, (a) the appulse of the COVID-19 communicable on STERIS’s operations, performance, results, prospects, or value, (b) STERIS’s adeptness to accomplish the accepted allowances apropos the accounting and tax treatments of the redomiciliation to Ireland (“Redomiciliation”), (c) operating costs, Customer accident and business disruption (including, after limitation, difficulties in advancement relationships with employees, Customers, audience or suppliers) actuality greater than accepted afterward the Redomiciliation, (d) STERIS’s adeptness to accommodated expectations apropos the accounting and tax analysis of the Tax Cuts and Jobs Act (“TCJA”) or the achievability that advancing allowances consistent from the TCJA will be beneath than estimated, (e) changes in tax laws or interpretations that could admission our circumscribed tax liabilities, including changes in tax laws that would aftereffect in STERIS actuality advised as a calm association for United States federal tax purposes, (f) the abeyant for added burden on appraisement or costs that leads to abrasion of accumulation margins, (g) the achievability that bazaar appeal will not advance for new technologies, articles or applications or services, or business initiatives will booty longer, amount added or aftermath lower allowances than anticipated, (h) the achievability that appliance of or acquiescence with laws, cloister rulings, certifications, regulations, authoritative actions, including after limitation any of the aforementioned apropos to FDA, EPA or added authoritative authorities, government investigations, the aftereffect of any awaiting or threatened FDA, EPA or added authoritative admonishing notices, actions, requests, inspections or submissions, or added requirements or standards may delay, absolute or anticipate new artefact or account introductions, affect the production, accumulation and/or business of absolute articles or casework or contrarily affect STERIS’s performance, results, affairs or value, (i) the abeyant of all-embracing unrest, bread-and-butter abatement or furnishings of currencies, tax assessments, tariffs and/or added barter barriers, adjustments or advancing rates, raw absolute costs or availability, account or retirement plan costs, or added authoritative acquiescence costs, (j) the achievability of bargain demand, or reductions in the amount of advance in demand, for STERIS’s articles and services, (k) the achievability of delays in cancellation of orders, adjustment cancellations, or delays in the accomplish or addition of ordered articles or in the accouterment of services, (l) the achievability that advancing growth, amount savings, new artefact acceptance, achievement or approvals, or added after-effects may not be achieved, or that transition, labor, competition, timing, execution, regulatory, governmental, or added issues or risks associated with STERIS’s businesses, industry or initiatives including, after limitation, those affairs declared in our Annual Address on Form 10-K for the year concluded March 31, 2019, and added balance filings, may abnormally appulse STERIS’s performance, results, affairs or value, (m) the appulse on STERIS and its operations, or tax liabilities, of Brexit or the avenue of added affiliate countries from the EU, and the Company’s adeptness to acknowledge to such impacts, (n) the appulse on STERIS and its operations of any legislation, regulations or orders, including but not bound to any new barter or tax legislation, regulations or orders, that may be implemented by the U.S. administering or Congress, or of any responses thereto, (o) the achievability that advancing banking after-effects or allowances of contempo acquisitions, or of STERIS’s restructuring efforts, or of contempo divestitures, or of  restructuring affairs will not be accomplished or will be added than anticipated, and (p) the furnishings of contractions in acclaim availability, as able-bodied as the adeptness of STERIS’s Customers and suppliers to abundantly admission the acclaim markets back needed.

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