Henry Schein Inc., a Melville-based distributor of medical products, reported another jump in profits on Thursday as its sales of medical and veterinary supplies continued to grow.
The company's net income rose 3.8 percent, to $98 million, during April, May and June. Sales rose 3.3 percent, to $2.2 billion, compared to the same period last year.
Despite the increase, the companies biggest unit, sales of dental products, dipped 1.3 percent, to $1.2 billion, compared to the same period last year. Company officials said that decrease stemmed largely from unfavorable exchange rates with the euro and Canadian dollar.
"While we are pleased with the performance of each of our business units during the quarter, our financial results were adversely affected by foreign currency exchange,” Henry Schein’s chairman and chief executive Stanley M. Bergman said in a statement announcing the company’s earnings.
Profits at the 80-year-old company have risen since it went public in 1995, as international demand has grown for dental implants, surgical instruments and other medical supplies. In the United States that growth has been fueled by baby boomers, whose relative affluence and education make them more likely than members of previous generations to visit doctors, have their teeth cleaned or take pets to the vet.
Henry Schein employs nearly 15,000 people, including roughly 1,200 on Long Island. It operates in 24 countries, including Germany, France and the United Kingdom. The company entered the Chinese market in 2010.
The company's stock was down 1.6 percent in midday trading, to 73.80 per share, as investors reacted to the European Central Bank’s indication that it was not taking immediate steps to shore up the economy.