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2016-05-06

DENTSPLY International Inc.: Dentsply Sirona Reports First Quarter 2016 Results

* Completed merger to create Dentsply Sirona, The Dental Solutions CompanyTM
* Repurchased $500 million of stock and increased dividend by 7%
* Reported revenues up 17.7% compared to prior year; sales of the combined
businesses1 grew 6.5% excluding the effect of exchange rates
* GAAP EPS of $0.70 grew 55.6%, and non-GAAP adjusted EPS grew 16.9% to $0.69

* Dentsply Sirona initiates 2016 guidance: adjusted EPS in the range of $2.70
to $2.80

York, PA, May 6, 2016
- DENTSPLY SIRONA Inc. ("Dentsply Sirona") (NASDAQ: XRAY), The Dental
Solutions CompanyTM, today announced its financial results for the three
months ended March 31, 2016.

First Quarter 2016 vs. First Quarter 2015 Financial Results

Reported net sales of $772.6 million increased 17.7% compared to $656.3
million
in the first quarter of 2015, with the consolidation of one month of Sirona.
Sales (excluding precious metals) of the combined businesses1 grew 6.5% at
constant currency exchange rates during the full three month period ending
March 31, 2016. Excluding a 1.7% benefit from net acquisitions and a 0.7%
unfavorable impact from discontinued products, internal sales growth of our
combined businesses was 5.5%. Sales (excluding precious metals) were
negatively impacted by approximately 2.6% due to the strengthening of the
U.S. dollar over the prior year period.

On a geographic basis, U.S. reported net sales of $279.7 million increased
16.2% compared to $240.7 million in the first quarter of 2015, with the
consolidation of one month of Sirona. Sales (excluding precious metals) of
the combined businesses grew 8.8% on a constant currency basis during the
full three month period ending March 31, 2016. This includes a benefit of
3.6% from net acquisitions and was unfavorably impacted by discontinued
products by approximately 0.5%, which results in internal growth of 5.7%.

Reported net sales in Europe increased 10.3% to $311.2 million compared to
$282.2 million in the first quarter of 2015, with the consolidation of one
month of Sirona. Sales (excluding precious metals) in Europe of the combined
businesses grew 3.2% on a constant currency basis during the full three month
period ending March 31, 2016. This includes an unfavorable impact of
discontinued products of approximately 0.9%, which results in internal growth
of 4.1%. Net sales (excluding precious metals) were negatively impacted by
approximately 2.8% due to the strengthening of the U.S. dollar over the prior
year period.

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Reported net sales in Rest of World increased 36.2% to $181.7 million compared
to $133.4 million in the first quarter of 2015, with the consolidation of one
month of Sirona. Sales (excluding precious metals) in Rest of World of the
combined businesses grew 8.4% on a constant currency basis during the full
three month period ending March 31, 2016. This includes a benefit of 1.4%
from net acquisitions and was unfavorably impacted by discontinued products
by approximately 0.4%, which results in internal growth of 7.5%. Net sales
(excluding precious metals), were negatively impacted by approximately 5.6%
due to the strengthening of the U.S. dollar over the prior year period.

The Company, post-merger, has been organized into two reporting segments:
Dental and Healthcare Consumables and Technologies. Dental and Healthcare
Consumables is responsible for the worldwide design, manufacture, sales and
distribution of the Company's preventive, restorative, instruments,
endodontic, and laboratory dental products, as well as consumable medical
device products. Technologies is responsible for the worldwide design,
manufacture, sales and distribution of the Company's dental implants, CAD/CAM
systems, imaging systems, treatment centers and orthodontic products.

In the Dental and Healthcare Consumables segment, net sales increased by 1.8%
to $488.8 million in the first quarter of 2016. This increase reflects the
consolidation of Sirona for one month. Sales of our combined businesses for
Dental and Healthcare Consumables grew 3.9% on a constant currency basis
during the full three month period ending March 31, 2016. This includes a
benefit of 0.7% from net acquisitions and was unfavorably impacted by
discontinued products by approximately 1.2%, which results in internal growth
of 4.5%. Net sales, excluding precious metal content, were negatively
impacted by approximately 2.8% due to the strengthening of the U.S. dollar
over the prior year period.

Reported net sales for Technologies, increased by 61.1% to $283.8 million in
the first quarter of 2016. This increase reflects the consolidation of
Sirona for one month. For the full three month period ending March 31, 2016,
sales of the combined businesses for Technologies grew 9.6% on a constant
currency basis, and internal sales growth of the combined businesses was
6.8%, excluding a 2.8% benefit from net acquisitions. Net sales, excluding
precious metal content, were negatively impacted by approximately 2.3% due to
the strengthening of the U.S. dollar over the prior year period.

Net income attributable to Dentsply Sirona for the first quarter of 2016 was
$125.0 million, or $0.70 per diluted share, compared to $64.0 million, or
$0.45 per diluted share in the first quarter of 2015. On an adjusted basis,
excluding certain items, net earnings per diluted share grew 16.9% to $0.69
compared to $0.59 in the first quarter of 2015.

A reconciliation of the non-GAAP measure to earnings per share calculated on a
US-GAAP basis is provided in the attached table.

Jeffrey T. Slovin, Dentsply Sirona's Chief Executive Officer commented: "I am
very pleased that our combined management team, our 15,000 employees and our
business partners came together to deliver strong first quarter results.
With the merger completed, Dentsply Sirona, The Dental Solutions CompanyTM
will focus on empowering dental professionals to deliver better, safer and
faster dental care and create significant value for practitioners, labs,
patients and shareholders around the globe."

Mr. Slovin continued: "We are in the early days of our new company, but are
committed to accelerating growth and returning capital to shareholders.
During the quarter we delivered 5.5% internally generated sales growth and
leveraged our operations to deliver 16.9% adjusted EPS growth. We raised our
dividend and repurchased $500 million of common stock, consistent with the
announcement we made at the time of the merger. Overall, the team is
energized about the opportunity. We have much work ahead, and are off to a
good start."

Guidance for 2016

Management anticipates adjusted EPS for 2016 in the range of $2.70 to $2.80.

Mr. Slovin concluded: "In 2016, we expect constant currency revenue growth of
4% to 6%, driven by growth in both of our segments, and strong underlying net
income growth."

Conference Call/Webcast Information

Dentsply Sirona will host a conference call at 8:30 a.m. (Eastern Time) on May
6, 2016 with a live webcast to discuss these financial results. Supplemental
materials for reference during the call will be available for download in the
investor relations section of Dentsply Sirona's web site, at
www.dentsplysirona.com.

Investors can access the webcast via a link on Dentsply Sirona's web site at
www.dentsplysirona.com. For those planning to participate on the call,
please dial (888) 471-3842 for domestic calls, or (719) 457-2662 for
international calls. The Conference ID # is 7393848. A replay of the
conference call will be available online at the Dentsply Sirona web site, and
a dial-in replay will be available for one week following the call at (888)
203-1112 (for domestic calls) or (719) 457-0820 (for international calls),
Replay Passcode # 7393848.

About Dentsply Sirona:

Dentsply Sirona is the world's largest manufacturer of professional dental
products and technologies, with a 130-year history of innovation and service
to the dental industry and patients worldwide. Dentsply Sirona develops,
manufactures, and markets a comprehensive solutions offering including dental
and oral health products as well as other consumable medical devices under a
strong portfolio of world class brands. As The Dental Solutions Company(TM),
Dentsply Sirona's products provide innovative, high-quality and effective
solutions to advance patient care and deliver better, safer and faster
dentistry. Dentsply Sirona's global headquarters is located in York,
Pennsylvania, and the international headquarters is based in Salzburg,
Austria. The company's shares are listed in the United States on NASDAQ under
the symbol XRAY. Visit www.dentsplysirona.com for more information about
Dentsply Sirona and its products.

Contact Information:

Joshua Zable
VP, Investor Relations and Corporate Communications
+1-718-482-2184
joshua.zable@dentsplysirona.com

Derek Leckow
VP, Investor Relations
+1-717-849-7863
derek.leckow@dentsplysirona.com

Forward Looking Statements:

This press release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These statements can be
identified by the use of forward-looking terminology, including "may,"
"believe," "will," "expect," "anticipate," "estimate," "plan," "intend,"
"project," "forecast," or other similar words. Statements contained in this
press release are based on information presently available to the Company and
assumptions that the Company believe to be reasonable. The Company is not
assuming any duty to update this information if those facts change or if the
assumptions are no longer believed to be reasonable. Investors are cautioned
that all such statements involve risks and uncertainties, and important
factors could cause actual events or results to differ materially from those
indicated by such forward-looking statements. These risk factors include,
without limitation; risks that the new businesses will not be integrated
successfully; risks that the combined companies will not realize the
estimated cost savings, synergies and growth, or that such benefits may take
longer to realize than expected; risks relating to unanticipated costs of
integration, including operating costs, customer loss or business disruption
being greater than expected; unanticipated changes relating to competitive
factors in the industries in which the Company operates; the ability to hire
and retain key personnel; reliance on and integration of information
technology systems; international, national or local economic, social or
political conditions that could adversely affect the Company or its
customers; risks associated with assumptions made in connection with critical
accounting estimates and legal proceedings; the ability to attract new
...

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