DENTSPLY 2010 third quarter net sales increases 2.0% to $541.8 million

DENTSPLY International Inc. (Nasdaq:XRAY) today announced sales and earnings for the three months ended September 30, 2010. Net sales in the third quarter of 2010 increased 2.0% to $541.8 million compared to $531.2 million reported for the third quarter of 2009. Net sales, excluding precious metal content, increased 0.1%, including 2.4% growth on a constant currency basis, to $494.3 million in the third quarter of 2010. This constant currency growth was nearly offset by the negative impact of foreign currency translation in the period.

Net income attributable to DENTSPLY International for the third quarter of 2010 was $63.7 million, or $0.44 per diluted share, compared to $0.45 per diluted share in the third quarter of 2009. Net income attributable to DENTSPLY International in the third quarter of 2010 included the net of tax impact of restructuring and other costs of $0.2 million, a net of tax impact for recent acquisition-related activities of $1.3 million and a net benefit for income tax-related adjustments of $0.3 million, which in aggregate reduced earnings per share on a net basis by $.01 per diluted share. Net income attributable to DENTSPLY International in the third quarter of 2009 included the net of tax impact of restructuring and other costs of $0.8 million, a net of tax impact for recent acquisition-related activities of $0.1 million and a net benefit for income tax-related adjustments of $2.6 million, which in aggregate increased earnings per share on a net basis by $0.01 per diluted share. For a reconciliation of GAAP and non-GAAP measures, see the attached table.

Bret Wise, Chairman and Chief Executive Officer, stated, "The global dental market continued to grow modestly in the third quarter, with international markets being more resilient. We have now completed the sales and marketing expansion announced early in the year, with the resources fully in place. We are also continuing to make additional investments in the back half of 2010 to take better advantage of a strong product pipeline targeted for launch in 2011 and 2012. Based on these investments and current exchange rates, we are narrowing our 2010 earnings guidance to $1.86 to $1.91 per diluted share." This guidance for earnings per diluted share is on a non-GAAP basis, excluding restructuring and other costs, acquisition-related activities, a credit risk adjustment to outstanding derivatives and income tax-related adjustments.

Source: DENTSPLY International Inc. 

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