YORK (PENNSYLVANIA) (dpa-AFX) - DENTSPLY International Inc. (XRAY) posted third quarter net income of $61.2 million versus $63.82 million last year. Earnings per share were $0.42, down from $0.44 in the same quarter last year.
Earnings per share, on an adjusted basis and excluding amortization of acquired intangible assets and other non-GAAP adjustments, were $0.46, essentially the same as the year ago quarter, despite the significant headwind from the orthodontic supply disruption in Japan.
On average, 11 analysts polled by Thomson Reuters expected the company to report earnings of $0.43 per share. Analysts' estimates typically exclude special items.
Net sales grew to $619.76 million from last year's $541.82 million. Net sales, excluding precious metal content, were $563.75 million, up 14.0% from $494.35 million in the third quarter of 2010. Analysts estimated revenues of $598.50 million.
The net sales growth, excluding precious metal content, was primarily the result of the acquisition of Astra Tech, which was completed on August 31, 2011.
The company is increasing its guidance for adjusted earnings per share in 2011 to a range of $2.01 to $2.07 per share from a comparable previous range of $1.96 to $2.04 per share. Analysts expect the company to earn $1.96 per share.
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