DENTSPLY International Inc. first quarter net income up 13%.YORK York, former name of Toronto, Canada York, Ont.: see Toronto, Ont., Canada. York, city, England York, city (1991 pop. 123,126) and district, North Yorkshire, N England, at the confluence of the Ouse and Foss rivers. , Pa.--(BUSINESS WIRE)--April 21, 1997--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) Monday announced that sales for the first quarter ended March 31, 1997 were $172.4 million, up 10.6% from $155.9 million in the year earlier quarter. Net income was $16.9 million, up 12.9% from $15.0 million in the first quarter of 1996. Earnings per common share were 63 cents, an increase of 12.5% from 56 cents in 1996. John C. Miles II, vice chairman and chief executive officer, said, "We are pleased with the start of 1997, achieving strong sales growth in the first quarter from both our base businesses and from prior year acquisitions, despite the adverse affect of the strong U.S. dollar. "In addition, the successful completion of three acquisitions during the quarter and a favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. ruling in a major arbitration arbitration Process of resolving a dispute or a grievance outside a court system by presenting it for decision to an impartial third party. Both sides in the dispute usually must agree in advance to the choice of arbitrator and certify that they will abide by the case should result in long-term benefits to the company." 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 artificial teeth, 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, impression 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 Dental sealants are a dental treatment consisting of applying a plastic material to one or more teeth, for the intended purpose of preventing dental caries (cavities) or other forms of tooth decay. , ultrasonic ultrasonic /ul·tra·son·ic/ (-son´ik) beyond the upper limit of perception by the human ear; relating to sound waves having a frequency of more than 20,000 Hz. ul·tra·son·ic adj. 1. scalers, and crown and bridge materials; the leading United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. manufacturer and distributor of dental x-ray equipment, dental handpieces, intra oral cameras, dental operatory software systems, dental x-ray film Noun 1. X-ray film - photographic film used to make X-ray pictures bitewing - a dental X-ray film that can be held in place by the teeth during radiography holders, film mounts and bone substitute/grafting materials; and a leading United States distributor of dental cutting instruments. The company distributes its dental products in over 100 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. -0-
DENTSPLY International Inc.
CONSOLIDATED STATEMENTS OF INCOME
(IN THOUSANDS EXCEPT PER SHARE DATA)
THREE MONTHS ENDED MARCH 31,
---------------------------
1997 1996 % CHANGE
-------- -------- --------
NET SALES $172,359 $155,910 10.6%
COST OF PRODUCTS SOLD 84,309 78,982 6.7%
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GROSS PROFIT 88,050 76,928 14.5%
% OF NET SALES 51.1% 49.3%
SELLING, GENERAL AND
ADMINISTRATIVE EXPENSE 59,995 50,027 19.9%
-------- --------
OPERATING INCOME 28,055 26,901 4.3%
% OF NET SALES 16.3% 17.3%
NET INTEREST AND
OTHER EXPENSE 241 1,812 (86.7)%
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INCOME BEFORE INCOME TAXES 27,814 25,089 10.9%
PROVISION FOR
INCOME TAXES 10,890 10,102 7.8%
-------- --------
NET INCOME $ 16,924 $ 14,987 12.9%
% OF NET SALES 9.8% 9.6%
EARNINGS PER COMMON SHARE $ .63 $ .56 12.5%
-------- --------
DIVIDENDS PER COMMON SHARE $ .0925 $ .0825 12.1%
-------- --------
WEIGHTED AVERAGE COMMON
SHARES OUTSTANDING 26,923 26,953 (0.1)%
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CONTACT: DENTSPLY International Inc., York Edward D. Yates, Sr. VP & CFO See Chief Financial Officer. , 717/849-4243 |
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