DENTSPLY International Inc. Reports Results For Its Fourth Quarter And Full Year 2010

-- Full year net sales were a record $2.221 billion and increased 2.9% or 2.1%, excluding precious metal content -- Full year Fully Diluted Earnings Per Share on a GAAP basis were $1.82 per share and were a record $1.90 on a non-GAAP fully diluted basis and increased 3.3% for the year

YORK, Pa., Feb. 9, 2011 (GLOBE NEWSWIRE) -- DENTSPLY International Inc. (Nasdaq:XRAY) today announced sales and earnings for the three months and year ended December 31, 2010.

Fourth Quarter Results

Net sales in the fourth quarter of 2010 were $568.2 million, essentially the same level as reported in the fourth quarter of 2009. Net sales, excluding precious metal content, increased 0.3% in total, and 2.5% on a constant currency basis in the fourth quarter of 2010. However, sales were negatively impacted by foreign exchange translation resulting from a generally stronger U.S. dollar during the quarter when compared to the same period last year.

Net income attributable to DENTSPLY International for the fourth quarter of 2010 was $67.8 million, or $0.47 per diluted share, compared to $74.8 million, or $0.50 per diluted share, in the fourth quarter of 2009. Net income attributable to DENTSPLY International in the fourth quarter of 2010 included tax adjustments, charges for restructuring and other costs, impacts related to recent acquisitions and investments that on a net basis decreased diluted earnings per share by $0.04. Net income attributable to DENTSPLY International in 2009 included positive tax adjustments, charges for restructuring, costs related to recent acquisitions and other related items that on a net basis increased diluted earnings per share by $0.02.

Adjusted earnings (excluding tax adjustments, charges for restructuring, costs related to recent acquisitions and other related items), which constitute a non-GAAP measure, were $73.7 million, or $0.51 per diluted share, in the fourth quarter of 2010. This compares to $72.6 million, or $0.48 per diluted share, in the fourth quarter of 2009, or an increase in adjusted earnings per diluted share of 6.3% for the quarter. A reconciliation of this non-GAAP measure to earnings per share on a GAAP basis is provided in the attached table.