Dentsply International's 3Q profit falls
Dental products maker Dentsply International Inc. said Thursday its third-quarter profit fell nearly 6 percent on higher costs.
Dentsply said it earned $63.7 million, or 44 cents per share, down from $67.5 million, or 45 cents per share, a year earlier.
Revenue rose 2 percent to $541.8 million from $531.2 million. But, the cost of products sold rose about 4 percent to $269 million while selling, general and administrative expenses rose 2.5 percent to $182.1 million.
Analysts polled by Thomson Reuters had expected profit of 45 cents per share on $530 million in revenue.
Looking ahead, the company narrowed its full-year profit guidance to between $1.86 and $1.91 per share from prior guidance of $1.86 to $1.94 per share. Analysts expect earnings of $1.91 a share, on average.
Shares fell $1.51, or 4.6 percent, to $31.65 in afternoon trading. The stock has traded between $27.76 and $38.15 over the last 52 weeks.