DENTSPLY International Inc. (XRAY: Quote) posted second-quarter net income attributable to the company of $80.8 million or $0.56 per share versus $74.2 million or $0.52 per share last year. On an adjusted basis, excluding certain non-GAAP items, earnings increased to $0.62 per share from $0.56 per share in the prior year.
Net sales improved 25.2% to $763 million from $609.4 million in the second quarter of 2011. Net sales, excluding precious metals content, climbed to $698.5 million from $564 million in the prior year.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.56 per share on revenues of $744.96 million for the quarter. Analysts' estimates typically exclude special items.
Bret Wise, chairman and chief executive officer, said, "DENTSPLY continued to deliver strong results in the second quarter with record sales and earnings, and solid sequential improvement in operating margins. Our business continues to perform well, particularly in light of macroeconomic issues in the U.S. and Europe and a significant weakening of the euro during the quarter. In light of the recent trading range of the euro, we are updating our full year adjusted earnings expectations to a range of $2.18 to $2.24 from the prior range of of $2.22 to $2.30 per diluted share."
Analysts expect the company to earn $2.24 per share for the year.
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by RTT Staff Writer
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