Henry Schein reports record Q2 results

Henry Schein reported record financial results for the second quarter of 2012 (end-June 30).

Net sales for the quarter were $2.2 billion, an increase of 3.3% compared with $2.1 billion in the second quarter of 2011.

Net income attributable to Henry Schein for the second quarter of 2012 was $98.1 million, compared with $94.5 million for the same quarter a year ago.

Global dental sales of $1.2 billion declined 1.3%, consisting of 2.6% growth in local currencies and a 3.9% decline related to foreign currency exchange.

"North America dental growth is highlighted by the strongest equipment sales growth in eight quarters," said Stanley Bergman, chairman and CEO, in a press release. "Dental specialty markets are important components of our growth strategy, and we recently strengthened our global orthodontics business with the acquisition of Ortho Technology. We also acquired Accord, which establishes our presence in Thailand and can serve as an anchor for further expansion into Southeast Asia."

The company's financial results were adversely affected by foreign currency exchange and general economic conditions, according to Bergman.

"In recent weeks, we completed a number of strategic acquisitions in our Global Dental, Animal Health, and Medical businesses that further our strategic priority of global growth in important market segments and new geographies," he said.