This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Henry Schein's CEO Discusses Q4 2011 Results - Earnings Call Transcript

I ask that during the Q&A portion of today's call, you limit yourself to a single question and a follow-up before returning to the queue. This will provide the opportunity for as many listeners as possible to ask a question within the one hour we have allotted for this call.

With that said, I would like to turn the call over to Stanley Bergman.

Stanley M. Bergman

Good morning, and thank you, Susan. And thank you, everyone, for joining us. We are delighted to have gained market share in all of our business groups during the fourth quarter and in fact, for the full year of 2011. And in the fourth quarter, we experienced overall middle -- mid-single-digit internal growth and that's adjusting, in fact, reducing the actual sales growth, or sales rate of growth for the extra week. And of course, we complemented the internal growth with growth as a result of strategic acquisitions.

For the year, we are proud that we exceeded $8.5 billion in sales. The team has done a remarkable job in garnering market share growth through internal growth and of course, absorbing the acquisitions that were made in the previous year. If you think about it, we had $6 billion of sales in 2008 and took that to $7.5 billion in 2010. And for the full year of 2011, we had $8.5 billion of sales.

Overall, our view is that the markets we serve are modestly improving. We think we are off the bottom and are growing in all of our markets, and we look forward to the return of historic growth rates, 5% to 6% annually, in the long run as the baby boomer generation understands the importance of preventative care in the medical and dental arena and as the market continues to develop throughout the world with a companion Animal and Equine business. So in a moment, I'll provide some commentary on each of our businesses but first, I'll ask Steve to provide an overview of our quarterly financial results. Thank you. Steve?

2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs