Henry Schein Inc, Melville, NY, has reported financial results for the quarter ending June 30, 2007. Net sales for the second quarter of 2007 were $1.4 billion, an increase of 16.3% from the second quarter of 2006. This increase includes 13.9% local currency growth (8.3% internally generated and 5.6% from acquisitions) and 2.4% related to foreign currency exchange.
"Our second quarter financial results were very strong, once again highlighted by double-digit sales growth and market-share gains in each of our four business groups," said Stanley M. Bergman, chairman and CEO of Henry Schein.
For the second quarter, dental sales increased 17.5%, including 17.2% growth in local currencies (10.5% internally generated and 6.7% from acquisitions) and 0.3% growth related to foreign currency exchange. Of the 17.2% local currency growth, dental consumable merchandise sales increased 14.7% (6.8% internal growth and 7.9% acquisition growth), and dental equipment sales and service revenues were up 25.1% (22.3% internal growth and 2.8% acquisition growth).
"We are very pleased with our Dental Group’s financial performance, highlighted by mid-teens consumable merchandise sales growth and excellent equipment sales and service growth, reflecting market share gains in basic equipment and high-tech products," Bergman said. "Subsequent to the close of the quarter we solidified our North American Dental industry leadership by acquiring the full-service and special-markets business of Becker-Parkin Dental Supply, increasing penetration for our US dental business in key geographies, including New York, Florida and Arizona."