This Day On The Street
Continue to site
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

Henry Schein's CEO Discusses Q1 2012 Results - Earnings Call Transcript

Stanley M. Bergman

Good morning and thank you, Susan. And thank you, everyone for joining us. Before I begin to discuss the quarter, let me just note that last night the Fortune rankings, Fortune 500 rankings were issued, and Henry Schein placed 303 in the 2012 Fortune 500 Ranking of America's Largest Corporations. We are very pleased by this recognition of our ability to record steady growth even during challenging economic times. Our steady growth in -- position on the ranking is reflective of the wonderful work that our team of over 15,000 Team Schein Members around the world has undertaken in the past 16 years as a public company. Today, we are also pleased to be reporting overall sales growth of 7.8%. This is the first quarter that we are presenting net sales results for our global customer-centric business units and each of our global Dental, Animal Health, Medical and Technology and Value-Added Services units reported growth in local currency in mid single digits or better. So I think with the new way in which we're reporting our sales with these new global verticals, it'll give our shareholders a far better ability to understand the performance of the company and align the sales reporting and the profitability reporting of the company with our strategic plan.

Based on the strength of our first quarter financial results and our continued confidence in our outlook for the rest of the year, we are increasing EPS guidance -- or our EPS guidance range for 2012. Reflecting this outlook, our Board of Directors recently voted to authorize the repurchase of up to additional $200 million shares of Henry Schein common stock. Earlier this year, as discussed during our last quarterly call, we are continuing to optimize our cost structure and improve profitability. We look forward to the future with more efficient organization; the organization will be far more focused and efficient at using our resources and in that context, even have a sharper global view of our customers and their evolving needs.

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
Only $9.95
14-Days Free
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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 16,790.19 +13.76 0.08%
S&P 500 1,979.92 -7.13 -0.36%
NASDAQ 4,748.3610 -32.9030 -0.69%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs