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Henry Schein Reports Record First Quarter Results
Date:5/8/2012

MELVILLE, N.Y., May 8, 2012 /PRNewswire/ -- Henry Schein, Inc. (NASDAQ: HSIC), the world's largest provider of healthcare products and services to office-based dental, medical and animal health practitioners, today reported record financial results for the quarter ended March 31, 2012.

Net sales for the first quarter of 2012 were $2.1 billion, an increase of 7.8% compared with the first quarter of 2011.  This consists of 8.4% growth in local currencies and a 0.6% decline related to foreign currency exchange.  In local currencies, internally generated sales increased 7.8% and acquisition growth was 0.6% (see Exhibit A for details of sales growth).

Net income attributable to Henry Schein, Inc. for the first quarter of 2012 was $80.8 million or $0.89 per diluted share.  Excluding restructuring costs of $11.8 million pre-tax or $0.09 per diluted share, net income attributable to Henry Schein, Inc. for the first quarter of 2012 was $89.1 million or $0.98 per diluted share, an increase of 16.4% and 19.5%, respectively, compared with the first quarter of 2011.

"This is the first quarter we are reporting net sales results for our global customer-centric business units, and we are pleased with growth in local currencies of mid-single-digits or better for each unit," commented Stanley M. Bergman, Chairman and Chief Executive Officer of Henry Schein.  "Early in 2012 we implemented and largely completed a restructuring with the goal of optimizing our cost structure and improving profitability.  Based on the strength of our first quarter financial results and our continued confidence in our outlook for the rest of the year, we are increasing our EPS guidance range for 2012.  We look forward to the future with a more efficient organization and an ever-sharper global view of customers and their evolving needs."

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