Sirona Reports Fiscal 2006 Second Quarter Results.BENSHEIM Coordinates: Bensheim is a city in Hesse, Germany. It is located at the edge of the Odenwald mountains while at the same time having an open view over the Rhine plain. With a population of c. 39,500, it is the biggest cíty of the Bergstraße district. , Germany -- Sirona Group: --Revenue increases 9.5 % --Operating income increases 17.9 % --Merger with Schick Technologies  This article about a company does not make it clear whether the subject meets the Wikipedia criteria for . Inc. expected to close on June
20, 2006
Sirona, one of the world's leading manufacturers of dental equipment today reported its financial results prepared in accordance Accordance is Bible Study Software for Macintosh developed by OakTree Software, Inc.[] As well as a standalone program, it is the base software packaged by Zondervan in their Bible Study suites for Macintosh. with U.S. GAAP GAAP See: Generally Accepted Accounting Principles GAAP See generally accepted accounting principles (GAAP). for the second fiscal quarter ended March 31, 2006. Revenue for the quarter was $ 131.8 million, an increase of $ 11.4 million, or 9.5%, as compared with the same period last year. Total revenue increased 13.3% on a constant currency basis, with growth rates Growth Rates The compounded annualized rate of growth of a company's revenues, earnings, dividends, or other figures. Notes: Remember, historically high growth rates don't always mean a high rate of growth looking into the future. in the Instruments segment of 24%, the Dental CAD/CAM CAD/CAM in full computer-aided design/computer-aided manufacturing. Integration of design and manufacturing into a system under direct control of digital computers. Systems and the Imaging Systems segments each at 17%, and the Treatment Center segment revenue unchanged. Revenue for the three months ended March 31, 2006 outside the U.S. increased 20% on a constant currency basis with all business segments contributing to this growth. Revenue in the U.S. was unchanged as compared to the same period last year. This region was coming off a challenging year-over-year comparison as revenues were very strong in the second quarter of fiscal 2005, increasing 37.4% from the second quarter of 2004. In the first half year of the fiscal year 2006 revenue in the U.S. increased by 10.2% compared to the same period last year. Operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. for the quarter increased 17.9%, to $ 20.0 million, compared to $ 16.9 million in the same period last year. Net income for the quarter increased to $ 4.4 million from $ 2.7 million in the same period last year. Jost Fischer Fi·scher , Hans 1881-1945. German chemist known for his research on the components of blood. He won a 1930 Nobel Prize for his work on the synthesis of hemin. , Chairman, President and Chief Executive Officer, commented, "After a strong start to our fiscal year, we had another solid quarter with revenue up 13.3%, on a constant currency basis. We believe this growth demonstrates the strength of our global business. Our customers continue to respond positively to Sirona's innovative product lines while our strategy to enhance our local market presence is showing results." Sirona's revenue has traditionally been strongest in the first six months of the fiscal year. Revenues for the six months ended March 31, 2006 were $ 267.7 million, an increase of $ 15.8 million, or 6.3%, compared to $ 251.9 million in the same period last year. On a constant currency basis revenue increased by 12.5%. For the six months operating income increased 23.4% to $ 46.8 million, compared to $ 37.9 million in the same period last year. Net income for the six months decreased to $ 7.8 million from $ 20.9 million in the same period last year. The decrease was primarily due to increased interest expense as a result of higher average debt balances following the change in ownership in June 2005 as well as foreign currency transaction loss compared to a gain in the same period last year. As at March 31, 2006 the company had cash and cash equivalents of $ 68.3 million and long term debt (including current portion) of $ 555.8 million, as compared to $ 65.9 million of cash and cash equivalents and long term debt (including current portion) of $ 586.7 million, at September 30, 2005. In December 2005, Sirona prepaid pre·pay tr.v. pre·paid, pre·pay·ing, pre·pays To pay or pay for beforehand. pre·pay  ment n. a portion of its
long term debt in the amount of $ 36.2 million.
Commenting on the upcoming merger with Schick Technologies Inc., Mr. Fischer added, "Our proposed combination with Schick is progressing as planned and will be presented for approval at a Special Meeting of Schick Stockholders on June 14, 2006. We anticipate that the merger will close on or about June 20, 2006." About Sirona Sirona is one of the world's leading manufacturers of dental equipment. The company produces treatment centers, imaging systems, handpieces and hygiene hygiene, science of preserving and promoting the health of both the individual and the community. It has many aspects: personal hygiene (proper living habits, cleanliness of body and clothing, healthful diet, a balanced regimen of rest and exercise); domestic hygiene systems as well as systems for computer-aided ceramic This article is about ceramic materials. For the fine art, see Ceramic art. The word ceramic is derived from the Greek word κεραμικός (keramikos). restoration (dental CAD/CAM systems). The products are marketed in over 100 countries worldwide. The company has subsidiary and representative offices in 16 countries and its global headquarters in Bensheim/Germany. Sirona has been pioneering innovative products in the dental industry for more than 125 years and currently employs a staff of 1,738. The company beliefs as to any information in this announcement which is not historical, constitute forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . The matters discussed in this news release are subject to various factors which could cause actual events and results to differ materially from such statements. Such factors include uncertainties as to the future sales volume of Sirona Group products, the closing of the company's merger with Schick Technologies Inc., the possibility of changing economic, market and competitive conditions, dependence on products, dependence on key personnel, technological developments, intense competition, market uncertainties, dependence on distributors, ability to manage growth, dependence on key suppliers, fluctuation Fluctuation A price or interest rate change. in results, seasonality and other risks and uncertainties. |
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