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Henry Schein reports 7.7% increase in net sales

The Henry Schein Inc. building in Melville, Wednesday,

The Henry Schein Inc. building in Melville, Wednesday, Dec. 31, 2014. The company reported Tuesday, May 9, 2017, that it posted a 7.7 percent increase in first quarter net sales to $2.9 billion. Photo Credit: Steve Pfost

Henry Schein Inc., Long Island’s largest public company by revenue, Tuesday reported a 7.7 percent increase in first quarter net sales to $2.9 billion led by double-digit growth in its medical unit.

The quarter’s net income climbed 23.7 percent year over year to $140.7 million, or $1.76 per diluted share, despite restructuring costs of $4.1 million pretax or 4 cents per diluted share.

“We believe that the markets we serve are generally healthy and are growing, and that our global dental, animal health, and medical groups all continued to gain market share during the quarter,” Stanley M. Bergman, chairman and chief executive, said in a statement.

Melville-based Henry Schein distributes products to the offices of dental, animal health and medical practitioners in markets around the world.

In its dental unit, accounting for almost half of revenue, sales were $1.4 billion, an increase of 7.9 percent. That consists of 8.2 percent growth in local currencies and a 0.3 percent decline related to foreign currency exchange.

Animal health sales rose 5.4 percent to $812.9 million, while medical sales jumped 11.3 percent to $598.9 million.

Henry Schein also announced a three-year agreement to distribute the equipment of dental equipment and supplies maker Dentsply Sirona in the U.S. market.

Shares of Henry Schein climbed $2.39 to close at $177.41 Tuesday on the Nasdaq Stock Market.

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