Dentsply International 2Q profit rises 3 percent
Dental products maker Dentsply International Inc. said Thursday its second-quarter profit rose 3 percent as an improved global economy boosted its sales.
Dentsply said it earned $72.4 million, or 49 cents per share, over the three months that ended June 30. That's up from $70.2 million, or 47 cents per share, a year earlier.
Excluding one-time costs and gains, it reported a profit of 50 cents per share. Its revenue grew 2 percent, to $565.1 million from $552.8 million.
Analysts on average were expecting a profit of 50 cents per share and $570.8 million in revenue, according to Thomson Reuters.
CEO Bret Wise said the company's results have slowly improved over the first six months of the year.
"The dental markets have shown a modest recovery in the first half of 2010," he said in a press release. However the company cut its profit expectations for the full year, pointing to the stronger dollar, which hurts its sales overseas.
Dentsply now expects a profit of $1.86 to $1.94 per share for the year, down from $1.90 to $2 per share. Analysts expect $1.93 per share on average.
In morning trading, Dentsply stock fell 81 cents, or 2.8 percent, to $28.65.