Dentsply International (NSDQ:XRAY) reported a 12.3% increase in sales during the 3 months ended Sept. 30, 2012, but saw a 11.9% decline in net income.
The York, Pa.-based dental consumables maker posted $53.4 million in net income, or 37¢ per share, on sales of $695.7 million. That compared with net income of $60.6 million, or 42¢ per share, on sales of $619.8 million during the same period last year.
The company reported adjusted earnings of 51¢ per share, beating Wall Street analysts’ consensus estimates by a penny.
Excluding precious metals content, sales grew 20.1%, driven by acquisitions and worldwide sales, according to a press release.
“We are pleased with our internal growth rate and margin improvement for the 3rd quarter and believe that our business overall continues to outperform the dental market,” chairman & CEO Bret Wise said in prepared remarks. “Based on the company’s performance to date and our outlook for the remainder of the year, we are updating our full-year adjusted earnings expectations to a range of $2.19 to $2.24 from the prior range of $2.18 to $2.24.”
Dentsply is in the midst of a putative class action lawsuit accusing it of selling defective Cavitron ultrasonic teeth-cleaning tools. A federal judge in Pennsylvania at the end of September ruled against Dentsply’s bid to have the lawsuit dismissed.
