DENTSPLY International Inc. Reconfirms 2002 Year-end Guidance.Business Editors YORK, Pa.--(BUSINESS WIRE)--Oct. 23, 2002 DENTSPLY International Inc.(NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :XRAY) today announced that it was reconfirming its 2002 year-end guidance of $1.80 - $1.82 for diluted earnings per share diluted earnings per share An earnings measure calculated by dividing net income less preferred stock dividends for a period by the average number of shares of common stock that would be outstanding if all convertible securities were converted into shares of . Today, PracticeWorks, Inc. (NASDAQ:PRWK), stock price closed at $5.61, compared to $17.30 at the end of the third quarter in 2002. DENTSPLY holds 450,000 seven-year term stock warrants in PracticeWorks along with 1.0 million shares of PracticeWorks' common stock. The common stock is classified as available-for-sale and any fair value adjustment to this investment is reflected in other comprehensive income, within the equity section of the balance sheet, until sold. The warrants, however, are classified as derivative financial instruments, as defined under SFAS SFAS Statement of Financial Accounting Standards SFAS Special Forces Assessment and Selection SFAS Student Financial Aid Services SFAS Sport Fishing Association of Singapore SFAS Safety Features Actuation System SFAS Statewide Fixed Assets System No. 133, and any fair value adjustments in these holdings are reflected in current income at the end of each quarter until it is sold. John Miles stated, "While we don't know Don't know (DK, DKed) "Don't know the trade." A Street expression used whenever one party lacks knowledge of a trade or receives conflicting instructions from the other party. where the PracticeWorks stock price will be at the end of our fourth quarter, the current price decrease would negatively impact DENTSPLY earnings by approximately $.02 - $.03 per share in the fourth quarter. Despite this current decline in the value of the PracticeWorks warrants, we remain comfortable with the earnings guidance we have provided for 2002 year-end of $1.80 - $1.82 per fully diluted common stock." DENTSPLY designs, develops, manufactures and markets a broad range of products for the dental market. The Company believes that it is the world's leading manufacturer and distributor of dental prosthetics, precious metal dental alloys, dental ceramics, endodontic Endodontic Pertaining to the inside structures of the tooth, including the dental pulp and tooth root, and the periapical tissue surrounding the root. Mentioned in: Root Canal Treatment endodontic instruments and materials, prophylaxis prophylaxis (prō'fĭlăk`sĭs), measures designed to prevent the occurrence of disease or its dissemination. Some examples of prophylaxis are immunization against serious diseases such as smallpox or diphtheria; quarantine to confine paste, dental sealants, ultrasonic scalers, dental injectible anesthetics Anesthetics Drugs or methodologies used to make a body area free of sensation or pain. Mentioned in: Appendectomy and crown and bridge materials; the leading United States manufacturer and distributor of dental x-ray equipment, dental handpieces, intraoral cameras, dental x-ray film holders, film mounts and bone substitute/grafting materials; and a leading worldwide manufacturer or distributor of impression materials, orthodontic orthodontic (ôr´th  dän´tik),adj appliances, dental cutting instruments and dental implants. The Company distributes its dental products in over 120 countries under some of the most well established brand names in the industry. DENTSPLY is committed to the development of innovative, high quality, cost-effective new products for the dental market. This press release contains forward-looking statements regarding future events or the future financial performance of the company. Actual events or results may differ materially from those in the projections or other forward-looking statements set forth herein as a result of certain risk factors. These risk factors include without limitation, the difficulty of successfully combining the operations of Degussa with those of DENTSPLY in a timely manner, the ability to continue to generate sufficient cash flow to pay down debt as planned, and changes in the general economic environment that could affect our business. For an additional description of risk factors, please refer to the Company's Annual Report or Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. filed with the Securities and Exchange Commission. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion