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Henry Schein reports record Q2

Staff writer |
Henry Schein reported record financial results for the quarter ended June 28, 2014. Net sales for the second quarter of 2014 were $2.6 billion, an increase of 9.3% compared with the second quarter of 2013.

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This consisted of 7.9% growth in local currencies and 1.4% growth related to foreign currency exchange. In local currencies, internally generated sales increased 4.3% and acquisition growth was 3.6% (see Exhibit A for details of sales growth).

Net income attributable to Henry Schein, Inc. for the second quarter of 2014 was $116.2 million, or $1.35 per diluted share, an increase of 7.2% and 9.8%, respectively, compared with the second quarter of 2013.

Dental sales of $1.4 billion increased 8.6%, consisting of 7.5% growth in local currencies and 1.1% growth related to foreign currency exchange. In local currencies, internally generated sales increased 2.6% and acquisition growth was 4.9%. The 2.6% internal growth in local currencies included 4.3% growth in North America while International sales were flat.

Animal Health sales of $754.5 million increased 13.2%, consisting of 10.7% growth in local currencies and 2.5% growth related to foreign currency exchange. In local currencies, internally generated sales increased 7.3% and acquisition growth was 3.4%. The 7.3% internal growth in local currencies included 7.9% growth in North America and 6.8% growth in International.

Medical sales of $403.3 million increased 4.0%, including 3.7% growth in local currencies and 0.3% growth related to foreign currency exchange.

Technology and Value-Added Services sales of $89.1 million increased 14.2%, including 13.2% growth in local currencies and 1.0% growth related to foreign currency exchange. In local currencies, internally generated sales increased 9.3% and acquisition growth was 3.9%.


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