U.S. News

Henry Schein Fourth-Quarter Profits Rise 30%


Health care products distributor Henry Schein said Wednesday its fourth-quarter profit rose 30% as dental equipment sales surged.

Net income grew to $63 million, or 70 cents a share, from $48.6 million, or 55 cents a share, in the year-ago period.

Revenue rose nearly 12% to $1.5 billion from $1.34 billion, with just over 2% of the growth coming from foreign currency exchanges.

Analysts surveyed by Thomson Financial expected earnings per share of 67 cents on revenue of $1.57 billion.

"Our fourth quarter results featured double-digit sales growth in each of our business groups, when adjusting for the extra week in the 2005 fourth quarter, with particular strength in dental equipment," said Stanley M. Bergman, chairman and chief executive, in a statement.

For the full year, the company posted net income of $163.8 million, or $1.82 a share, from $139.8 million, or $1.58 a share, in 2005. Revenue rose to $5.15 billion from $4.64 billion.