Dentsply Sirona Q1 Profit Surges, Results Beat View

(RTTNews) - Consumable dental products maker Dentsply Sirona (XRAY) on Friday reported a profit for the first quarter that almost doubled from last year on double-digit revenue growth that benefited from the merger of Dentsply and Sirona.

Both revenue and adjusted earnings per share for the quarter beat analysts' expectations. Looking ahead, the company forecast fiscal 2016 earnings in line with analysts' estimates.

In late February 2016, Dentsply Sirona completed a merger of equals between Dentsply and rival Sirona Dental Systems.

For the first quarter, net income attributable to Dentsply Sirona rose to $125.0 million or $0.70 per share from $64.0 million or $0.45 per share in the year-ago period.

Adjusted earnings per share for the quarter were $0.69, compared to $0.59 in the prior-year quarter.

On average, ten analysts polled by Thomson Reuters expected the company to report earnings of $0.63 per share for the quarter. Analysts estimates usually exclude special items.

Net sales for the quarter rose 17.7 percent to $772.6 million from $656.3 million in the year-ago period, with the consolidation of one month of Sirona. Analysts had a consensus revenue estimate of $741.84 million.

Looking ahead to fiscal 2016, Dentsply Sirona forecast adjusted earnings in a range of $2.70 to $2.80 per share. The Street expects earnings of $2.75 per share for the year.

The company said it expects constant currency revenue growth of 4 to 6 percent for the year, driven by growth in both of its segments, and strong underlying net income growth.