DENTSPLY International Inc. reports record sales, income and earnings per common share.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)--Jan. 22, 1997--DENTSPLY International Inc. (Nasdaq:XRAY) Wednesday announced that it ended 1996 with a record performance for any quarter. Sales for the quarter were $180.3 million, up 11.5% from $161.7 million in the prior year's quarter. Net income was $20.6 million, up 12.7% from $18.3 million in the year earlier quarter. Earnings per common share were 77 cents vs. 68 cents in the fourth quarter of 1995, an increase of 13.2%. Sales and earnings for the year ended Dec. 31, 1996 were also a record. Sales increased 14.8% to $656.6 million from $572.0 million in 1995. Net income was $67.2 million, compared to $54.0 million reported in 1995, an increase of 24.6%. Earnings per common share were $2.50 vs. $2.00, an increase of 25.0% from 1995. The results for the year ended Dec. 31, 1995 include a one-time after-tax charge of approximately $1.8 million, or 7 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , to cover the costs of closing the company's executive offices in Illinois Illinois, river, United States Illinois, river, 273 mi (439 km) long, formed by the confluence of the Des Plaines and Kankakee rivers, NE Ill., and flowing SW to the Mississippi at Grafton, Ill. It is an important commercial and recreational waterway. and consolidating its executive operations in York, Pa. Commenting on the quarter and year, John C. Miles II, chief executive officer, said, "Strong operating performance in the fourth quarter along with the signing of letters of intent to purchase SPAD Laboratories and New Image Industries and the completion earlier this month of the acquisition of DW Industries concluded a very successful year. Our active acquisition program and the continued strength of our base business suggests a positive start for 1997." 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, 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 and film mounts; and a leading United States distributor of dental cutting instruments and dental implants dental implant n. An artificial tooth that is anchored in the gums or jawbone to replace a missing tooth. dental implant . 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 Year Ended
Dec. 31, Dec. 31,
---------------------- ----------------------
1996 1995 % Change 1996 1995 % Change
---- ---- -------- ---- ---- --------
Net sales $180,291 $161,715 11.5% $656,557 $572,028 14.8%
Cost of
products sold 88,661 80,380 10.3% 331,887 291,176 14.0%
Gross profit 91,630 81,335 12.7% 324,670 280,852 15.6%
% of net sales 50.8% 50.3% 49.5% 49.1%
Selling, general &
administrative
expense 54,994 47,765 15.1% 205,206 180,117 13.9%
Operating income 36,636 33,570 9.1% 119,464 100,735 18.6%
% of net sales 20.3% 20.8% 18.2% 17.6%
Net interest and
other expense 2,715 2,830 (4.1)% 8,504 10,718 (20.7)%
Income before
income taxes 33,921 30,740 10.3% 110,960 90,017 23.3%
Provision for
income taxes 13,329 12,465 6.9% 43,738 36,054 21.3%
Net income 20,592 18,275 12.7% 67,222 53,963 24.6%
% of net sales 11.4% 11.3% 10.2% 9.4%
Earnings per
common share $0.77 $0.68 13.2% $2.50 $2.00 25.0%
Dividends per
common share $0.0925 $0.0825 12.1% $0.3400 $0.3075 10.6%
Weighted average
common shares
outstanding 26,879 26,950 (0.3)% 26,920 27,012 (0.3)%
CONTACT: DENTSPLY International Inc., York Edward D. Yates, Sr. VP & CFO See Chief Financial Officer. , 717/849-4243 |
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