Dentsply earnings fall in third quarter
YORK, Pa. (AP) — Dentsply reported a 12 percent decline in third quarter earnings Thursday as selling and administrative costs rose for the dental products company.
Total sales increased 12 percent to $695.7 million for the period ended Sept. 30. Those gains were partially offset by higher selling and administrative costs, which increased 12.5 percent to $260 million.
The company reported second-quarter net income of $53.4 million, or 37 cents per share, down from $60.6 million, or 42 cents per share a year earlier.
Analysts polled by FactSet expected earnings per share of 50 cents on revenue of $720 million.
"Overall, I'd say the dental market is doing okay at this point, but it's not great," CEO Bret Wise said during a call with analysts.
The company narrowed its full-year earnings expectations to a range of $2.19 to $2.24 from the prior range of $2.18 to $2.24.
Shares of Dentsply International Inc., based in York, Pa., rose 41 cents to $37.12