XRAY Earnings Cheat Sheet: Record Sales and Profits in the First Quarter

S&P 500 (NYSE:SPY) component DENTSPLY International Inc. (NASDAQ:XRAY) reported its results for the first quarter. DENTSPLY International, Inc. manufactures and distributes dental equipment and products, including artificial teeth and dental consumable products.

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DENTSPLY International Earnings Cheat Sheet for the First Quarter

Results: Net income for the medical instruments and supplies company rose to $69.1 million (48 cents/share) vs. $61.8 million (41 cents/share) in the same quarter a year earlier. A rise of 11.7% from the year earlier quarter.

Revenue: Rose 4.5% to $570.5 million YoY.

Actual vs. Wall St. Expectations: XRAY reported adjusted net income of 49 cents per share. By this measure, the company just beat the street’s estimates of 48 cents/share.

Quoting Management: Bret Wise, Chairman and Chief Executive Officer, stated “We are pleased to report record sales and earnings in the first quarter driven by a notable improvement in the global dental market and strong execution by the Company, particularly on the launch of numerous new product offerings. We continue to execute our contingency plans to mitigate the impact of the natural disaster in Japan on both our near-term and long-term results.”

Key Stats:

Last quarter’s profit increase breaks a streak of two consecutive quarters of year-over-year profit decreases. In the fourth quarter of the last fiscal year, net income fell 9.4% while the figure dropped three quarters ago.

Gross margins grew 0.9 percentage point to 52.6%. The growth seemed to be driven by increased revenue, as the figure rose 4.5% from the year earlier quarter while costs rose 2.5%.

Over the last five quarters, revenue has increased 3.3% on average year over year. The biggest increase came in the first quarter of the last fiscal year, when revenue rose 7.7% from the year earlier quarter.

Competitors to Watch: Young Innovations, Inc. (NASDAQ:YDNT), Align Technology, Inc. (NASDAQ:ALGN), Sirona Dental Systems, Inc. (NASDAQ:SIRO), Biolase Technology, Inc. (NASDAQ:BLTI), Pro-Dex, Inc. (NASDAQ:PDEX), Danaher Corporation (NYSE:DHR), Integra LifeSciences Hldgs. Corp. (NASDAQ:IART), 3M Company (NYSE:MMM), Cantel Medical Corp. (NYSE:CMN), and Zimmer Holdings, Inc. (NYSE:ZMH).

Today’s Performance: Shares of XRAY closed at $38.30 as of April 28, 2011 at 4:00 PM ET, up 4.19% from the previous closing price of $36.76.

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