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Henry Schein Reports Record Third Quarter Results
Date:11/7/2012

MELVILLE, N.Y., Nov. 7, 2012 /PRNewswire/ -- Henry Schein, Inc. (NASDAQ: HSIC), the world's largest provider of health care products and services to office-based dental, medical and animal health practitioners, today reported record financial results for the quarter ended September 29, 2012.

Net sales for the third quarter of 2012 were $2.2 billion, an increase of 5.7% compared with the third quarter of 2011.  This consists of 8.9% growth in local currencies and a 3.2% decline related to foreign currency exchange.  In local currencies, internally generated sales increased 4.4% and acquisition growth was 4.5% (see Exhibit A for details of sales growth).

The Company noted that seasonal influenza vaccine sales were lower this quarter than in the prior-year quarter, although profitability was higher.  In order to provide more meaningful commentary the Company will be discussing sales results including and excluding this impact.  Excluding sales of seasonal influenza vaccines from both periods, net sales increased 6.4%, with 9.8% growth in local currencies including 5.1% internal sales growth.

Net income attributable to Henry Schein, Inc. for the third quarter of 2012 was $96.8 million or $1.08 per diluted share, an increase of 5.2% and 9.1%, respectively, compared with the third quarter of 2011.

"We gained market share in each of our four business groups during the third quarter and each group also reported accelerated internal sales growth in local currencies compared with the second quarter, after excluding sales of seasonal influenza vaccines from our Global Medical business.  We also are pleased to raise the low end of our 2012 EPS guidance range and to introduce guidance for 2013 that represents growth in EPS of approximately 10% to 12% compared with the mid-point of our 2012 guidance range," commented Stanley M. Bergman, Ch
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SOURCE Henry Schein, Inc.
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