Solid First-Quarter Growth for Schein May 7, 2008 2:49 PM
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Medical, dental, and veterinary products supplier Henry Schein reported a 16.4% increase in first-quarter sales, while first-quarter net income rose 20.3%, to $52.3 million, up from $43.5 million in the same period last year. For the three months ended March 29, Melville, NY-based Schein netted sales of $1.5 billion, up from $1.3 billion last year.
Dental sales increased 8.7%; medical sales declined 3.7%; international sales increased 45.5%; and technology and value-added services sales jumped 36.5%.
"We are pleased with our earnings growth during the first quarter, which reflects the benefits of our diversified business model serving dental, medical, and veterinary office practitioners in the U.S. and international markets,” Chairman/CEO Stanley M. Bergman said in a release. "Our International Group was a particularly strong contributor to both sales and earnings growth this quarter."
