Dentsply Sirona ousts interim COO, beats with Q4 results

Dentsply Sirona (NSDQ:XRAY) yesterday ousted interim COO Bob Size and reported fourth-quarter and 2017 results that beat the consensus expectation for both sales and earnings. Size was appointed last October, when the dental devices giant cleared the deck, ousting its chairman, CEO and COO (former Cardinal Health (NYSE:CAH) exec Donald Casey Jr. was hired as chief executive last month). This week, York, Pa.-based Dentsply Sirona said it decided Feb. 28 that Size “would cease to serve” effective today. “Mr. Size will continue with the organization for a period to be determined in order to assist with the transition,” according to a regulatory filing. In a separate release, Dentsply Sirona released its preliminary numbers for the fourth quarter and full year, topping Wall Street’s expectations despite a slide to red ink on goodwill impairment charges and the impact of last year’s tax reforms. Losses were -$673.4 million, or -$2.95 per share, on sales of $1.09 billion for the three months ended Dec. 31, 2017, compared with Q4 2016 profits of $107.0 million on sales growth of 9.5%. Adjusted to exclude one-time items, earnings per share were 82¢, a penny ahead of The Street, where analysts were looking for sales of $1.06 billion. Full-year losses came to -$1.58 billion, or -$6.86 per share, on sales of $4.0 billion, compared with profits of $429.9 million in 2016, for sales growth of 6.6% over the prior year. Adjusted EPS were $2.66 for 2017...
Source: Mass Device - Category: Medical Devices Authors: Tags: Dental MassDevice Earnings Roundup Wall Street Beat Dentsply Sirona Source Type: news