Sirona Reports Fiscal 2012 Second Quarter Results
Sirona (Nasdaq: SIRO), the dental technology leader, today announced its financial results for the quarter ended March 31, 2012.
Second Quarter Fiscal 2012 vs. Second Quarter Fiscal 2011 Financial Results
Revenue was $231.9 million, an increase of $17.1 million or up 8% (up 11.1% on a constant currency basis), with growth rates for the Company's business segments as follows: Treatment Centers increased 12.7% (up 17.5% on a constant currency basis), CAD/CAM Systems increased 11.1% (up 13.7% on a constant currency basis), Imaging Systems increased 3.5% (up 6.0% on a constant currency basis), and Instruments increased 3.3% (up 7.7% on a constant currency basis).
Revenue in the United States increased 4.9%, while revenues outside the United States increased 9.2% (up 13.7% constant currency), with particularly robust performance in the Asia Pacific region.
Gross profit was $124.6 million, up $9.0 million. Gross profit margin was 53.8% in the second quarter of Fiscal 2012, compared to 53.9% in the prior year. Gross profit margin as a percent of sales was positively impacted by lower amortization, which was offset by margin compression mainly due to product mix. Second quarter 2012 operating income excluding amortization expense was $52.2 million (operating income of $40.1 million plus amortization expense of $12.0 million, compared to $47.0 million (operating income of $33.5 million plus amortization expense of $13.5 million) in the second quarter of 2011. Net income for the second quarter of 2012 was $30.5 million, or $0.54 per diluted share, versus $29.3 million, or $0.51 per diluted share in the prior year period. Non-GAAP earnings per diluted share for the second quarter of 2012 was $0.64 compared to $0.58 in the prior year quarter. At March 31, 2012, the Company had cash and cash equivalents of $77.8 million and total debt of $77.6 million, resulting in net cash of $0.2 million. This compares to net debt of $22.5 million at September 30, 2011.Select the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
Product Features:
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Dividend Stock Advisor
TRY IT FREENew! $49.95/yr
Jim Cramer's protege, 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
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Stocks Under $10
TRY IT FREEDavid Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
Product Features:
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
- Weekly roundups
Real Money
TRY IT FREE24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
Product Features:
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
Real Money Pro
TRY IT FREEAll of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
Product Features:
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
Product Features:
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV
