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Dentsply's Q2 earnings rise despite flat sales

Mon, 08/05/2013 - 12:30pm
Mass Device

Second-quarter profits for Dentsply International rose 8% despite flat sales during the period, as market conditions in Europe prompt the medical device company to lower the top end of its 3013 earnings guidance.

Dentsply's Q2 earnings rise despite flat sales

Dentsply International (NSDQ:XRAY) managed to boost its 2nd-quarter profits despite flat sales, saying headwinds in Europe will push down its earnings for the rest of the year.

York, Pa.-based Dentsply posted profits of $87.2 million, or 60¢ per share, on sales of $761.0 million for the 3 months ended June 30. That represents bottom-line growth of 8.0% on a 0.3% sales decline.

"Dentsply achieved record adjusted earnings for the 2nd quarter, driven by an acceleration of internal growth in the U.S. and expansion of adjusted operating margins," chairman & CEO Bret Wise said in prepared remarks. "Although we are pleased with our 2nd-quarter performance, market conditions continue to be difficult in Europe and movement of currency exchange rates has created some further headwind in the 2nd half of the year. As a result, we are revising our expectations for adjusted earnings per share for 2013 to a range of $2.33 to $2.38."

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