DENTSPLY International Inc. (XRAY) posted lower first-quarter net income attributable to the company of $53.3 million, or $0.37 per share, compared with $69.1 million, or $0.48 per share in the prior-year quarter.
However, excluding non-GAAP items, quarterly adjusted earnings per share were $0.52, higher than $0.50 a year earlier. On average, 14 analysts polled by Thomson Reuters expected earnings per share of $0.52 for the quarter. Analysts' estimates typically exclude one-time items.
Net sales in the recent quarter increased 25.6% to $716.4 million from $570.5 million last year, whereas 10 analysts estimated revenues of $718.72 million for the quarter. Net sales, excluding precious metals content, of $665.6 million went up 26.3% from $527.0 million in the first quarter of 2011. Constant currency net sales growth, excluding precious metals content, was 28.3%, driven largely by acquisitions, but also supported by internal sales growth, which was notably strong in the U.S.
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