Sirona Dental Systems (NSDQ:SIRO) gained some points with Wall Street today after posting a strong 4th quarter and 2012 fiscal year earnings report and naming a successor for outgoing CEO Jost Fischer.
SIRO shares were up 7.6% to $61.41 as of about 1 p.m. today after the company held its quarterly earnings call earlier in the morning.
The Long Island City, N.Y.-based dental devices maker posted profits of $34.7 million, or 71¢ per diluted share on sales of $247.4 million for the 3 months ended Sept. 30, 2012. That’s a 152% spike in earnings on a 13% increase in sales compared with the same period last year, when Sirona posted profits of $13.8 million, or 24¢ per diluted share on sales of $219 million.
"We had an outstanding 4th quarter, with every segment of our business growing double digits, constant currency and strong operating income growth," Fischer said in prepared remarks. "Fiscal 2012 was another year of double digit constant currency revenue growth for Sirona, where we exceeded sales expectations."
The company’s adjusted EPS of 71¢ per share beat analysts’ estimates by a penny.
The company also touted record yearly sales with $979.4 million in revenue for 2012, a 7.2% bump from sales of $913.9 million in 2011. Sirona posted a net profit of $133.8 million, or $2.36 per diluted share, representing a 9.9% increase in profits and 10.8% increase in per-share earnings. Adjusted for 1-time expenses, adjusted EPS for the year again beat Wall Street’s estimates by a penny.
Sirona also announced a successor for Fischer, promoting Sirona president Jeffrey Slovin to take over the corner office in February 2013. Slovin became president in September 2010, prior to which he served as the company’s executive vice president and COO of U.S. operations, according to a press release.
Prior to working with Sirona, Slovin was CEO of Schick Technologies, a dental technologies company acquired by Sirona in 2006.