Henry Schein Inc, Melville, NY, reports a record fourth quarter results, including net sales for Q4 2012 of $2.4 billion, an increase of 2.9% compared with Q4 2011. Net income for Q4 2012 was $112.5 million or $1.26 per diluted share, an increase of 7.4% and 9.6%, respectively, compared with Q4 2011.
The company, which provides health care products and services to office-based dental, medical, and animal health practitioners, reported $1.3 billion in global dental sales, a decrease of 2.4%, which includes internal growth in local currencies of 3.6%, acquisition growth of 2.6%, and decreases related to foreign currency exchange and an extra week in the reporting cycle of 0.9% and 7.7% respectively. Internal growth in local currencies of 3.6% included 7.0% growth in North America and a decline in international growth of 1.5%.
“We are delighted to report continued strength in North America Dental equipment with growth of 21.9% and overall growth in North America Dental of 7.0%. While International Dental merchandise internal growth in local currencies was a healthy 2.2%, a decline in equipment sales of 9.2% reflects a cautious spending environment in much of Europe, particularly in Germany and The Netherlands, as well as in Australia,” said Stanley M. Bergman, chairman and CEO of Henry Schein. “In Germany, we believe that equipment sales were negatively impacted by the timing of the upcoming IDS show in Cologne.” The company noted that all quoted sales growth rates are adjusted to exclude the impact of the extra week in 2011.
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