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Sirona Gains Despite Flat profits

Thu, 02/14/2013 - 3:10pm
Mass Device

Dental device company Sirona Medical Systems reports 1st-quarter sales of 5.5% and flat profit growth.

Sirona Dental Systems (NSDQ:SIRO) reported flat profits for its fiscal 1st quarter, but that didn't faze investors, who sent share prices up nearly 4% this week.

The Long Island City, N.Y.-based dental technology company posted profits of $38.3 million, or 68¢ per share, on sales of $272.4 million for the 3 months ended Dec. 31, 2012. That compares with Q1 2012 profits of $38.3 million, or 67¢ per share, on sales of $258.1 million.

Adjusted to exclude, 1-time items, earnings per share were 94¢, well ahead of the 68¢ expected by Wall Street analysts. SIRO shares were up 3.6% as of about 3 p.m. today, to $72 apiece, since Sirona reported its earnings Feb. 8.

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