DENTSPLY International reports 7.7% increase in first-quarter 2010 net sales

  • First quarter net sales increased 7.7%
  • Non-GAAP earnings per share increased 2.3% to $0.44

DENTSPLY International Inc.(Nasdaq:XRAY) today announced sales and earnings for the three months ended March 31, 2010. Net sales in the first quarter of 2010 increased 7.7% to $545.9 million compared to $506.9 million reported for the first quarter of 2009. Net sales, excluding precious metal content, were $497.5 million, a 6.8% increase compared to the first quarter of 2009. Net sales, excluding precious metal content, were favorably impacted by strengthening internal growth, the benefit of a weaker U.S. dollar in the period, and acquisitions. Net sales of dental consumable products and dental specialty products continued to generate positive internal growth in the period.

Net income attributable to DENTSPLY International for the first quarter of 2010 was $61.8 million, or $0.41 per diluted share, compared to $0.41 per diluted share in the first quarter of 2009. Net income attributable to DENTSPLY International in the first quarter of 2010 included the net of tax impact of restructuring and other costs of $2.8 million, a $0.4 million net of tax impact for acquisition-related activities and a net charge for income tax-related adjustments of $0.4 million. Net income attributable to DENTSPLY International in the first quarter of 2009 included the net of tax impact of restructuring and other costs of $1.0 million, a $1.1 million net of tax impact for acquisition-related activities and a net charge for income tax-related adjustments of $0.3 million. These items, in aggregate, reduced earnings on a net basis by $0.03 per diluted share in the first quarter of 2010 and $0.02 per diluted share in the first quarter of 2009.  For a reconciliation of the non-GAAP measure to earnings per share calculated according to GAAP, see the attached table.

Bret Wise, Chairman and Chief Executive Officer, stated "We are beginning to see the early signs of growth returning to the dental markets in several geographies and product categories, and are also continuing to see momentum in a number of our businesses beyond market growth.  We are encouraged by the early results from the investments we made late last year in incremental sales and marketing resources, and continue to enjoy a robust pipeline of new product innovations.   These factors give us continued confidence in our full year 2010 earnings guidance of $1.90 to $2.00." This guidance for earnings per diluted share is on a non-GAAP basis, excluding restructuring and other costs, acquisition-related activities and income tax-related adjustments.

SOURCE DENTSPLY International Inc.

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