Henry Schein has reported results for its third quarter of 2016, with dental sales up from 2015.
For the quarter (end-September 24), dental sales totaled $1.3 billion, a 5.1% increase compared with the third quarter of 2015. Of the increase, 5.6% of its growth came from local currencies, offset slightly by a 0.5% decline due to currency changes.
The company's decision to stop selling low-margin precious metals negatively impacted potential growth, noted Stanley Bergman, chairman of the board and CEO of Henry Schein. He believes that, although the dental consumables market has been somewhat slower, the market appears to be stable.
Overall, Henry Schein's net sales for the quarter were $2.9 billion, a 6.7% increase compared with the third quarter of 2015. The company reported adjusted net income of $133.7 million, a 4.7% from the same quarter of 2015.
