Dentsply Sirona shares rise on Q4, FY2016 Beat

Shares in Dentsply Sirona (NSDQ:XRAY) have risen today after the dental device maker met expectations on Wall Street with its 4th quarter and full fiscal year 2016 earnings results. The York, Penn.-based company posted profits of $107 million, or 46¢ per share, on sales of $996.5 million for the 3 months ended Dec. 31, for bottom-line growth of 82.6% on sales growth of 48.5% compared with the same period last year. After adjusting to exclude 1-time items, earnings per share were 67¢, 2¢ ahead of consensus on The Street where analysts were looking for sales of $1.01 billion, which the company just fell short of. For the full year, Dentsply Sirona posted profits of $429.9 million, or $1.94 per share on sales of $3.7 billion. That equates to bottom-line growth of 71.1% while sales grew 40% compared with 2015. Adjusted to exclude 1-time items, earnings per share were $2.78, ahead of the consensus on the street. Revenues fell inline as well, with The Street looking for $3.7 billion. “In 2016 we completed our historic merger to create Dentsply Sirona, The Dental Solutions company. Our integration is on track and our ability to deliver on strategic objectives and capture synergies enabled us to overcome dealer inventory reduction in the fourth quarter related to a change in distribution strategy in North America. We accelerated growth in the fourth quarter, led by Dental and Healthcare Consumables growth of 3.5% and finished at the upper end of our guidance range with adjus...
Source: Mass Device - Category: Medical Equipment Authors: Tags: Business/Financial News MassDevice Earnings Roundup Dentsply Sirona Source Type: news