Henry Schein posts gains in 2nd quarter net sales, income
Henry Schein CEO Stanley Bergman at his Melville office, July 17, 2017. Credit: Johnny Milano
Henry Schein Inc., a Melville-based multinational health care products distributor, yesterday posted gains in second quarter net sales and net income led by strength in its dental unit.
Net sales for the quarter ended July 1 were $3.1 billion, a 6.5 percent increase compared with the prior year’s quarter.
Net income was $136.1 million, or $1.71 per diluted share, representing increases of 13.3 percent and 17.1 percent versus the 2016 quarter.
“We are pleased with overall sales results for the second quarter of 2017 in each of our global dental, animal health and medical businesses,” chairman and chief executive Stanley M. Berg man said in a statement. “We delivered solid earnings per share growth as we continue to implement our strategy of growing the business organically and through acquisitions.”
Dental sales increased 8.4 percent to $1.5 billion, the company said.
Animal Health sales rose 4.4 percent to $891.3 million.
Sales of medical products increased 6.1 percent to $571.4 million versus the 2016 quarter.
Sales of technology and value-added services increased 1.4 percent year over year to $108.5 million.
The company added a 4 cent-per-share litigation expense to its forecast for 2017 diluted earnings per share. That expense stems from a $5.3 million pretax charge announced in June to settle an antitrust lawsuit filed by SourceOne Dental Inc., an e-commerce company based in Chandler, Arizona.
Henry Schein, Long Island’s largest public company based on 2016 revenue and stock market capitalization, has operations or affiliates in 32 countries.
The company’s shares fell 5.3 percent to $174.02 yesterday. They are up about 4 percent in the last 12 months.
Ken Schachter covers corporate news, including technology and aerospace, and other business topics for Newsday. He has also worked at The Miami Herald and The Jerusalem Post.
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