|Henry Schein Reports Record First Quarter Results|
Net sales for the first quarter of 2012 were
Net income attributable to Henry Schein, Inc. for the first quarter of 2012 was
"This is the first quarter we are reporting net sales results for our global customer-centric business units, and we are pleased with growth in local currencies of mid-single-digits or better for each unit," commented
Global Dental sales of
"Dental sales growth was strong due to stable or improved patient traffic to dental offices in the major markets we serve. We believe that we continued to gain market share in our global dental business," commented Mr. Bergman.
"On a global basis our
Global Medical sales of
"Our North America Medical business comprises well over 90% of our global Medical sales. Growth in that market was largely fueled by increased penetration of larger group practices and solid growth in sales of pharmaceutical products. These improvements were somewhat offset by lower sales of diagnostic consumable products due to a generally mild winter," remarked Mr. Bergman.
Global Technology and Value-Added Services sales of
"The performance of our Technology and Value-Added Services group continued to be excellent, with strong internal sales growth in the U.S. bolstered by strategic acquisitions. More than 85% of revenue from our Technology and Value-Added Services group is derived from
Stock Repurchase Plan
The Company announced that it repurchased approximately 540,000 shares of its common stock during the first quarter at an average price of
Subsequent to the close of the first quarter, the Company's Board of Directors authorized the repurchase of up to an additional
2012 EPS Guidance
Henry Schein today raised 2012 financial guidance, as follows:
First Quarter Conference Call Webcast
The Company will hold a conference call to discuss first quarter financial results today, beginning at
About Henry Schein, Inc.
Henry Schein, Inc. (NASDAQ: HSIC) is the world's largest provider of health care products and services to office-based dental, medical and animal health practitioners. The Company also serves dental laboratories, government and institutional health care clinics, and other alternate care sites. A Fortune 500® Company and a member of the NASDAQ 100® Index, Henry Schein employs nearly 15,000 Team Schein Members and serves approximately 775,000 customers.
The Company offers a comprehensive selection of products and services, including value-added solutions for operating efficient practices and delivering high-quality care. Henry Schein operates through a centralized and automated distribution network, with a selection of more than 90,000 national and Henry Schein private-brand products in stock, as well as more than 100,000 additional products available as special-order items. The Company also offers its customers exclusive, innovative technology solutions, including practice management software and e-commerce solutions, as well as a broad range of financial services.
In accordance with the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995, we provide the following cautionary remarks regarding important factors that, among others, could cause future results to differ materially from the forward-looking statements, expectations and assumptions expressed or implied herein. All forward-looking statements made by us are subject to risks and uncertainties and are not guarantees of future performance. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance and achievements or industry results to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These statements are identified by the use of such terms as "may," "could," "expect," "intend," "believe," "plan," "estimate," "forecast," "project," "anticipate" or other comparable terms. A full discussion of our operations and financial condition, including factors that may affect our business and future prospects, is contained in documents we have filed with the
Risk factors and uncertainties that could cause actual results to differ materially from current and historical results include, but are not limited to: effects of a highly competitive market; our dependence on third parties for the manufacture and supply of our products; our dependence upon sales personnel, customers, suppliers and manufacturers; our dependence on our senior management; fluctuations in quarterly earnings; risks from expansion of customer purchasing power and multi-tiered costing structures; possible increases in the cost of shipping our products or other service issues with our third-party shippers; general global macro-economic conditions; disruptions in financial markets; possible volatility of the market price of our common stock; changes in the health care industry; implementation of health care laws; failure to comply with regulatory requirements and data privacy laws; risks associated with our international operations; transitional challenges associated with acquisitions and joint ventures, including the failure to achieve anticipated synergies; financial risks associated with acquisitions and joint ventures; litigation risks; the dependence on our continued product development, technical support and successful marketing in the technology segment; risks from rapid technological change; risks from disruption to our information systems; certain provisions in our governing documents that may discourage third-party acquisitions of us; and changes in tax legislation. The order in which these factors appear should not be construed to indicate their relative importance or priority.
We caution that these factors may not be exhaustive and that many of these factors are beyond our ability to control or predict. Accordingly, any forward-looking statements contained herein should not be relied upon as a prediction of actual results. We undertake no duty and have no obligation to update forward-looking statements.
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Note: Certain prior period amounts have been reclassified to conform to the current presentation.
This non-GAAP comparison is being presented in order to provide a more comparable basis for analysis. Earnings per share numbers may not sum due to rounding.
SOURCE Henry Schein, Inc.
Investors: Steven Paladino, Executive Vice President and Chief Financial Officer, firstname.lastname@example.org, +1-631-843-5500; Media: Susan Vassallo, Vice President, Corporate Communications, email@example.com, +1-631-843-5562