Stronger Dollar Erodes Dentsply 1Q Profit

YORK, Pa. (AP) — Dental products maker Dentsply International Inc. said Friday its profit shrank in the first quarter as the stronger dollar hurt its sales.

Dentsply earned $61.7 million, or 41 cents per share, down from $68.2 million, or 45 cents per share, in the same quarter a year ago. The company said its profit was 43 cents per share excluding one-time items such as restructuring costs and impairments, and tax-related charges.

Revenue slid to $506.9 million from $560.8 million.

Analysts expected profit of 43 cents per share and $523.6 million in revenue, according to Thomson Reuters.

Less favorable currency exchange rates cut sales by 6.9 percent, and almost half the revenue decrease came from lower metals prices. Dentsply said its sales would have improved from last year if currency exchange rates had stayed the same and the value of the metals used in its procedures is excluded.

Citing global economic conditions, the company cut its annual profit forecast by 5 cents per share.