Henry Schein 3Q Profit Rises On Tax Benefit

MELVILLE, N.Y. (AP) — Medical and dental device maker Henry Schein Inc. said Wednesday its profit surged 43 percent in the third quarter due to a tax benefit and a slight improvement in sales.

The company reported net income of $96.4 million, or $1.05 per share. But excluding an overseas tax benefit, the company earned only 80 cents per share. In last year's third quarter, Henry Schein posted a profit of $67.5 million, or 74 cents per share.

Revenue increased 1 percent to $1.66 billion from $1.64 billion.

According to Thomson Reuters, analysts expected a profit of 82 cents per share and revenue of $1.64 billion.

Henry Schein said dental group sales fell 3 percent to $622 million due to a decline in equipment sales and service revenue. Medical group revenue slid 4 percent to $411 million, as lower sales of seasonal flu vaccines more than offset strong sales of consumable products. International revenue rose 9 percent to $584 million.

Henry Schein narrowed its 2009 profit forecast to a range of $3.14 to $3.16 per share from an earlier estimate of $3.11 to $3.26 per share. Analysts project income of $3.23 per share.