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Henry Schein shines on foreign currency bump

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Henry Schein Inc. (NSDQ:HSIC) reported a 15 percent surge in sales during the second quarter, based primarily on growth in local currencies.

The Melville, N.Y.-based medical products distributor reported net income of $84 million on $1.8 billion in sales for the three month period ended June 26, compared to a $73 million profit on $1.6 billion in sales the company posted for the same period last year.

For the six month period ended June 26 Henry Schein posted a $144 million profit on $3.6 billion in sales, a 16 percent increase from the $128 million in net income on $3.1 billion in 2009.

Officials said in a earnings release that the 15 percent increase in sales was based in part on a nearly 16 percent growth in local currencies. Absent the currency bump, internal sales rose just 2 percent during the quarter.

Sales were led by the company’s dental division, which reported $677.6 million in sales, a jump of nearly 9 percent from the same period last year.

Meanwhile, the firm’s North American medical sales remained basically flat, posting $283.6 million in sales during the quarter, an uptick of .4 percent.

Henry Schein’s international business increased just under 2 percent to $602.4 million.

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