Owens & Minor (OMI) 8-K Owens & Minor Reports Record Quarterly Revenue of $1.79 Billion

Exhibit 99.1

FOR IMMEDIATE RELEASE

July 28, 2008

Owens & Minor Reports Record Quarterly Revenue of $1.79 Billion

for 2^nd Quarter 2008

RICHMOND, VA….Owens & Minor (NYSE-OMI) today reported financial results for the second quarter ended June 30, 2008. Revenue for the quarter was $1.79 billion, improved 6.9% from revenue of $1.68 billion in the second quarter last year. Net income for the second quarter was $23.6 million, an increase of 29% when compared to net income of $18.3 million in last year’s second quarter. Diluted earnings per share (EPS) for the quarter were $0.57, compared to $0.45 per share in the same period last year. For comparison purposes, results for the second quarter of 2007 included the impact of the integration of an acquired business.

“Record quarterly revenue and solid growth in earnings in the second quarter demonstrate that we are on the right track for 2008,” said Craig R. Smith, president & chief executive officer of Owens & Minor. “In fact, over the last five quarters, we have reported strong results in revenue, gross margin dollars and earnings. We have executed operationally and managed our long-term debt, as we said we would. We are making progress in growing our relationships with new and acquired business, and we continue to provide more value to our customers and suppliers, consistent with our strategies. As we look to the rest of the year and beyond, we are operating from a position of strength.”

Year-to-Date Results

For the six months ended June 30, 2008, revenue was $3.55 billion, improved 5.4% from $3.37 billion in the same period last year. Net income for the first half of 2008 was $47.8 million, up 65% from net income of $29.1 million in the first half of last year. Year-to-date, diluted EPS was $1.16, compared to $0.71 in the first six months of 2007. For comparative purposes, earnings for the first six months of 2007 reflect the impact of the transition and integration of an acquired business to Owens & Minor.

Asset Management

For the first six months of the year, operating cash flow was $79 million, a slight decrease when compared to the prior year’s $86 million. The company used cash for payments on its revolving credit facility. Consequently, long-term debt decreased to $221 million as of June 30, 2008. Days sales outstanding (DSO) of 24.0 days and inventory turns of 10.4 were improved from the prior year second quarter.

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2008 Outlook

The company continues to target 2008 annual revenue growth in the 5% to 7% range. The company is now targeting earnings per diluted share for the year in a range of $2.30 to $2.40, increased from the previous range of $2.20 to $2.30.

Safe Harbor Statement

Except for historical information, the matters discussed in this press release may constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those projected. These risk factors are discussed in reports filed by the company with the Securities & Exchange Commission. All of this information is available at www.owens-minor.com. The company assumes no obligation, and expressly disclaims any such obligation, to update or alter information, whether as a result of new information, future events, or otherwise.

Owens & Minor, Inc.,

(NYSE: OMI) aFORTUNE 500 company headquartered in Richmond, Virginia, is the leading distributor of national name-brand medical and surgical supplies and a healthcare supply-chain management company. Owens & Minor is also a member of the Russell 2000^® Index, which measures the performance of the small-cap segment of the U.S. equity universe, as well as the S&P SmallCap 600, which includes companies with a market capitalization of $300 million to $2 billion that meet certain financial standards. With a diverse product and service offering and distribution centers throughout the United States, the company serves hospitals, integrated healthcare systems, alternate care locations, group purchasing organizations, the federal government and consumers. Owens & Minor provides technology and consulting programs that improve inventory management and streamline logistics across the entire medical supply chain—from origin of product to patient bedside. For news releases, or for more information about Owens & Minor, visit the company Web site atwww.owens-minor.com.

Investors Conference Call & Supplemental Material

Conference Call:Owens & Minor management will conduct a conference call for professional analysts and investors on Tuesday, July 29, 2008, at 9:00 a.m. Eastern Daylight Time. Participants may access thelive call at 877-748-0043 with conference code #55983971. Theinternational dial-in number is 706-758-5871 with conference code #55983971.Webcast: The event will also be webcast onwww.owens-minor.com under “Investor Relations.”Replay:A replay of the call will be available for seven days by dialing 800-642-1687, using conference code #55983971.

CONTACTS: Trudi Allcott, Director, Investor & Media Relations, 804-723-7555; Chuck Graves, Director, Finance & Investor Relations, 804-723-7556.

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Owens & Minor, Inc.

Condensed Consolidated Statements of Income (unaudited)

(in thousands, except ratios and per share data)

	Three Months Ended June 30,
	2008			2007
Revenue	$	1,794,915		$	1,679,044
Cost of revenue		1,604,728			1,502,181
Gross margin		190,187			176,863
Selling, general and administrative expenses		141,546			133,456
Depreciation and amortization		7,791			8,088
Other operating income and expense, net		(948	)		(1,388	)
Operating earnings		41,798			36,707
Interest expense, net		2,826			6,613
Income before income taxes		38,972			30,094
Income tax provision		15,340			11,828
Net income	$	23,632		$	18,266
Net income per common share - basic	$	0.58		$	0.45
Net income per common share - diluted	$	0.57		$	0.45
Weighted average shares - basic		40,754			40,213
Weighted average shares - diluted		41,449			40,763
	Six Months Ended June 30,
	2008			2007
Revenue	$	3,547,632		$	3,365,243
Cost of revenue		3,170,353			3,013,719
Gross margin		377,279			351,524
Selling, general and administrative expenses		278,654			276,238
Depreciation and amortization		15,596			16,266
Other operating income and expense, net		(1,968	)		(2,470	)
Operating earnings		84,997			61,490
Interest expense, net		6,339			13,784
Income before income taxes		78,658			47,706
Income tax provision		30,817			18,625
Net income	$	47,841		$	29,081
Net income per common share - basic	$	1.18		$	0.73
Net income per common share - diluted	$	1.16		$	0.71
Weighted average shares - basic		40,677			40,111
Weighted average shares - diluted		41,363			40,710

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Owens & Minor, Inc.

Condensed Consolidated Balance Sheets (unaudited)

(in thousands)

	June 30, 2008			December 31, 2007
Assets
Current assets
Cash and cash equivalents	$	4,932		$	2,129
Accounts and notes receivable, net		474,248			462,392
Merchandise inventories		632,877			581,569
Other current assets		54,416			43,767
Total current assets		1,166,473			1,089,857
Property and equipment, net		72,875			76,122
Goodwill, net		271,699			271,699
Intangible assets, net		27,625			32,517
Other assets, net		47,509			44,885
Total assets	$	1,586,181		$	1,515,080
Liabilities and shareholders’ equity
Current liabilities
Accounts payable	$	555,791		$	469,102
Accrued payroll and related liabilities		21,668			18,763
Other accrued liabilities		78,289			80,599
Total current liabilities		655,748			568,464
Long-term debt, excluding current portion		221,081			283,845
Other liabilities		50,037			48,412
Total liabilities		926,866			900,721
Shareholders’ equity
Common stock		82,745			81,748
Paid-in capital		174,533			161,978
Retained earnings		409,293			377,913
Accumulated other comprehensive loss		(7,256	)		(7,280	)
Total shareholders’ equity		659,315			614,359
Total liabilities and shareholders’ equity	$	1,586,181		$	1,515,080

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Owens & Minor, Inc.

Condensed Consolidated Statements of Cash Flows (unaudited)

(in thousands)

	Six Months Ended June 30,
	2008			2007
Operating activities
Net income	$	47,841		$	29,081
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization		15,596			16,266
Provision for losses on accounts and notes receivable		10,827			10,503
Provision for LIFO reserve		10,468			5,900
Amortization of direct-response advertising costs		3,409			3,501
Deferred direct-response advertising costs		(4,769	)		(4,391	)
Share-based compensation expense		4,879			3,804
Changes in operating assets and liabilities:
Accounts and notes receivable		(22,683	)		13,179
Merchandise inventories		(61,776	)		26,591
Accounts payable		82,989			1,838
Net change in other current assets and current liabilities		(9,313	)		(19,110	)
Other, net		1,495			(776	)
Cash provided by operating activities		78,963			86,386
Investing activities
Additions to property and equipment		(3,765	)		(8,207	)
Additions to computer software		(5,895	)		(4,842	)
Acquisition of intangible assets		—			(58	)
Net cash paid for acquisitions of businesses		—			(2,410	)
Other, net		8			375
Cash used for investing activities		(9,652	)		(15,142	)
Financing activities
Cash dividends paid		(16,461	)		(13,766	)
Net payments on revolving credit facility		(62,200	)		(59,800	)
Proceeds from exercise of stock options		7,226			4,668
Excess tax benefits related to stock-based compensation		2,454			2,076
Increase (decrease) in drafts payable		3,700			(4,000	)
Other, net		(1,227	)		(1,104	)
Cash used for financing activities		(66,508	)		(71,926	)
Net increase (decrease) in cash and cash equivalents		2,803			(682	)
Cash and cash equivalents at beginning of period		2,129			5,090
Cash and cash equivalents at end of period	$	4,932		$	4,408

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Owens & Minor, Inc.

Financial Statistics (unaudited)

	Quarter Ended
(in thousands, except ratios and per share data)	6/30/2008			3/31/2008			12/31/2007			9/30/2007			6/30/2007
Operating results:
Revenue	$	1,794,915		$	1,752,717		$	1,748,479		$	1,686,744		$	1,679,044
Gross margin	$	190,187		$	187,092		$	185,203		$	178,257		$	176,863
Gross margin as a percent of revenue		10.60	%		10.67	%		10.59	%		10.57	%		10.53	%
SG&A expense	$	141,546		$	137,108		$	137,668		$	131,365		$	133,456
SG&A expense as a percent of revenue		7.89	%		7.82	%		7.87	%		7.79	%		7.95	%
Operating earnings	$	41,798		$	43,199		$	40,781		$	40,942		$	36,707
Operating earnings as a percent of revenue		2.33	%		2.46	%		2.33	%		2.43	%		2.19	%
Net income	$	23,632		$	24,208		$	22,453		$	21,176		$	18,266
Net income per common share - basic	$	0.58		$	0.60		$	0.56		$	0.53		$	0.45
Net income per common share - diluted	$	0.57		$	0.59		$	0.55		$	0.52		$	0.45
Accounts receivable:
Accounts and notes receivable, net	$	474,248		$	457,345		$	462,392		$	508,746		$	515,496
Days sales outstanding(1)		24.0			23.7			24.3			27.7			27.9
Inventory:
Merchandise inventories	$	632,877		$	607,881		$	581,569		$	581,363		$	635,297
Average inventory turnover		10.4			10.6			10.6			9.8			9.4
Financing:
Long-term debt, excluding current portion	$	221,081		$	211,962		$	283,845		$	231,142		$	369,031
Stock information:
Cash dividends per common share	$	0.20		$	0.20		$	0.17		$	0.17		$	0.17
Stock price at quarter-end	$	45.69		$	39.34		$	42.43		$	38.09		$	34.94

⁽¹⁾ Days sales outstanding based on three-months’ sales

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