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Henry Schein Reports Record Third Quarter Results
Date:11/1/2011

MELVILLE, N.Y., Nov. 1, 2011 /PRNewswire/ -- Henry Schein, Inc. (NASDAQ: HSIC), the largest provider of healthcare products and services to office-based practitioners, today reported record financial results for the quarter ended September 24, 2011.  The Company noted that influenza vaccine sales and related profits were lower this quarter than in the prior year quarter. In order to provide more meaningful commentary the Company will be discussing results including and excluding this impact.

Net sales for the third quarter of 2011 were $2.1 billion, an increase of 11.5% compared with the third quarter of 2010.  This consists of 7.4% growth in local currencies and 4.1% growth related to foreign currency exchange.  Internal sales growth in local currencies was 3.3% (see Exhibit A for details of sales growth).  Excluding sales of seasonal influenza vaccines from both periods, net sales increased 12.9%, with 8.6% growth in local currencies including 4.3% internal sales growth.

Net income attributable to Henry Schein, Inc. for the third quarter of 2011 was $92.0 million or $0.99 per diluted share, an increase of 4.6% and 5.3%, respectively, compared with the third quarter of 2010.  Excluding sales of seasonal influenza vaccines from both periods, net income and diluted EPS increased by approximately 11%.

"We are pleased to be reporting sales growth in local currencies in each of our five business groups during the third quarter.  Third quarter results were impacted by lower sales and profits from seasonal influenza vaccine.  More importantly, double-digit growth in net income excluding seasonal flu vaccine sales reflects continued strength in our core businesses," said Stanley M. Bergman, Chairman and Chief Executive Officer of Henry Schein.

"Our financial results were also impacted by various macroeconomic factors both in th
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SOURCE Henry Schein, Inc.
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