updated 10/28/2010 6:15:50 AM ET 2010-10-28T10:15:50

YORK, Pa., Oct. 28, 2010 (GLOBE NEWSWIRE) -- DENTSPLY International Inc. (Nasdaq:XRAY) today announced sales and earnings for the three months ended September 30, 2010. Net sales in the third quarter of 2010 increased 2.0% to $541.8 million compared to $531.2 million reported for the third quarter of 2009. Net sales, excluding precious metal content, increased 0.1%, including 2.4% growth on a constant currency basis, to $494.3 million in the third quarter of 2010. This constant currency growth was nearly offset by the negative impact of foreign currency translation in the period.

Net income attributable to DENTSPLY International for the third quarter of 2010 was $63.7 million, or $0.44 per diluted share, compared to $0.45 per diluted share in the third quarter of 2009. Net income attributable to DENTSPLY International in the third quarter of 2010 included the net of tax impact of restructuring and other costs of $0.2 million, a net of tax impact for recent acquisition-related activities of $1.3 million and a net benefit for income tax-related adjustments of $0.3 million, which in aggregate reduced earnings per share on a net basis by $.01 per diluted share. Net income attributable to DENTSPLY International in the third quarter of 2009 included the net of tax impact of restructuring and other costs of $0.8 million, a net of tax impact for recent acquisition-related activities of $0.1 million and a net benefit for income tax-related adjustments of $2.6 million, which in aggregate increased earnings per share on a net basis by $0.01 per diluted share. For a reconciliation of GAAP and non-GAAP measures, see the attached table.

Bret Wise, Chairman and Chief Executive Officer, stated, "The global dental market continued to grow modestly in the third quarter, with international markets being more resilient. We have now completed the sales and marketing expansion announced early in the year, with the resources fully in place. We are also continuing to make additional investments in the back half of 2010 to take better advantage of a strong product pipeline targeted for launch in 2011 and 2012. Based on these investments and current exchange rates, we are narrowing our 2010 earnings guidance to $1.86 to $1.91 per diluted share." This guidance for earnings per diluted share is on a non-GAAP basis, excluding restructuring and other costs, acquisition-related activities, a credit risk adjustment to outstanding derivatives and income tax-related adjustments.

Additional Information

A conference call has been scheduled for Thursday, October 28, 2010 at 8:30 AM Eastern Time. A live broadcast is available through Shareholder.com by accessing DENTSPLY's website at www.dentsply.com . In order to participate in the call, dial (888) 601-3864 (for domestic calls) and (913) 312-1443 (for international calls). The Conference ID # is 1473854. At that time, you will be able to discuss the third quarter earnings with DENTSPLY's Chairman and Chief Executive Officer, Mr. Bret Wise; President and Chief Operating Officer, Mr. Chris Clark; and Senior Vice President and Chief Financial Officer, Mr. William Jellison.

A rebroadcast of the conference call will be available to the public online at the DENTSPLY website, www.dentsply.com . You may also access a dial-in replay for one week following the call at (888) 203-1112 (for domestic calls) or (719) 457-0820 (for international calls), Passcode # 1473854. 

 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, endodontic instruments and materials and ultrasonic scalers; the leading United States manufacturer and distributor of denture teeth, dental handpieces, dental x-ray film holders, film mounts and prophylaxis paste; and a leading worldwide manufacturer or distributor of dental injectable anesthetics, impression materials, orthodontics appliances, dental cutting instruments, dental implants and restorative dental materials, dental sealants and crown and bridge materials.  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.

The DENTSPLY International Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4306

This press release contains forward-looking information (within the meaning of the Private Securities Litigation Reform Act of 1995) regarding future events or the future financial performance of the Company that involve substantial risks and uncertainties. Actual events or results may differ materially from those in the projections or other forward-looking information set forth herein as a result of certain risk factors. These risk factors include, without limitation; the continued strength of dental markets, the timing, success and market reception for our new and existing products, uncertainty with respect to governmental actions with respect to dental products, outcome of litigation, continued support of our products by influential dental professionals, and changes in the general economic environment that could affect the business. Changes in such assumptions or factors could produce significantly different results. For an additional description of risk factors, please refer to the Company's most recent Form 10-K and its subsequent periodic reports on Forms 10-Q filed with the Securities and Exchange Commission.

Non-GAAP Financial Measures

In addition to the results reported in accordance with accounting principles generally accepted in the United States ("GAAP"), the Company provided adjusted operating income, adjusted net income attributable to DENTSPLY International and adjusted earnings per diluted share.  These adjusted amounts consist of GAAP amounts excluding (1) restructuring and other costs, (2) acquisition-related charges, (3) income tax-related adjustments and (4) credit risk adjustments to outstanding derivatives.  Adjusted earnings per diluted share are calculated by dividing adjusted net income attributable to DENTSPLY International by diluted weighted-average shares outstanding. 

The Company also provided an operational tax rate, which is the Company's effective tax rate, a GAAP measure, adjusted for certain one-time charges.  Adjusted operating income, adjusted net income attributable to DENTSPLY International, adjusted earnings per diluted share and operating tax rate are considered measures not calculated in accordance with GAAP, and therefore are non-GAAP measures.  These non-GAAP measures may differ from those of other companies.

The Company believes that the presentation of adjusted operating income, adjusted net income attributable to DENTSPLY International, adjusted earnings per diluted share and operating tax rate provides important supplemental information to management and investors seeking to understand the Company's financial condition and results of operations. The non-GAAP financial information should not be considered in isolation from, or as a substitute for, measures of financial performance prepared in accordance with GAAP.

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