Henry Schein Reports Record Fourth Quarter And Annual Results

MELVILLE, N.Y., Feb. 11, 2015 /PRNewswire/ -- Henry Schein, Inc. (NASDAQ: HSIC), the world's largest provider of health care products and services to office-based dental, animal health and medical practitioners, today reported record financial results for the fourth quarter. 

For the quarter ended December 27, 2014, net sales were $2.7 billion, an increase of 7.0% compared with the fourth quarter of 2013.  This consisted of 9.9% growth in local currencies and a 2.9% decline related to foreign currency exchange.  In local currencies, internally generated sales increased 4.9% and acquisition growth was 5.0% (see Exhibit A for details of sales growth).

Net income attributable to Henry Schein, Inc. for the fourth quarter of 2014 was $133.0 million or $1.56 per diluted share, an increase of 7.0% and 9.1%, respectively, compared with the fourth quarter of 2013.

"We closed out 2014 with strong fourth quarter financial results that once again included market share gains in each of our four business groups.  The global markets we serve remain generally healthy, highlighted by continued strong patient traffic in North America, and we are particularly pleased with the solid internal sales growth in local currencies in our international businesses," said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein.  "We also achieved EPS growth for the year of 10% and are affirming our guidance for 2015 diluted EPS.  I am also pleased to mention that for the first time we exceeded the $10 billion sales mark on an annual basis."

Dental sales of $1.4 billion increased 3.9%, consisting of 7.5% growth in local currencies and a 3.6% decline related to foreign currency exchange.  In local currencies, internally generated sales increased 2.3% and acquisition growth was 5.2%.  The 2.3% internal growth in local currencies included 1.9% growth in North America and 2.9% growth internationally.

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