Dentsply Q1 Profit Tops Street View; Lifts Full-Year Earnings Outlook

(RTTNews) - Dentsply International Inc.(XRAY), a maker of consumable dental products, Tuesday reported nearly flat earnings for the first quarter. Revenue for the period decreased slightly. However, earnings, excluding certain items, topped analysts' estimates.

Further, the company raised its earnings outlook for the year as the first-quarter earnings came slightly ahead of its expectations and as it expects to make investments to enhance long-term profitability

For the first quarter, net earnings were nearly flat at $72.88 million, compared with $71.68 million a year ago. Earnings per share increased to $0.50 from $0.49 last year. Excluding certain items, earnings were $85.47 million or $0.59 per share, compared with $75.23 million or $0.52 per share a year ago.

On average, 12 analysts polled by Thomson-Reuters estimated the company's earnings to be $0.56 for the quarter. Analysts' estimates typically exclude one-time items.

Provision for income taxes was $22.45 million for the quarter, significantly higher than $3.54 million a year earlier.

Net sales for the 3-month period declined to $730.11 million from $732.08 million in the same period last year. Analysts expected revenues of $747.27 million.

Looking ahead, the company raised its adjusted earnings per share outlook range for the full year to $2.47 to $2.55, from earlier projection of $2.33 to $2.38. Analysts expect earnings $2.52 per share.