Sirona Dental Systems 4Q net income rises 4 pct

Sirona rises on higher 4Q earnings, sales growth, but its earnings guidance disappoints

Associated Press

NEW YORK (AP) -- NEWS: Sirona Dental Systems said Friday that its net income rose 4 percent in the fiscal fourth quarter on higher sales, but its earnings forecast for this year disappointed.

DETAILS: Sirona Dental Systems Inc. said sales of CAD/CAM systems rose 35 percent compared to last year, and revenue from imaging systems also improved. Instrument sales also improved.

NUMBERS: Sirona said its net income increased to $36.2 million, or 65 cents per share, from $34.7 million, or 62 cents per share. Excluding one-time items the company said it earned 81 cents per share, up from 73 cents per share a year ago. Revenue rose 13 percent, to $278.6 million from $247.4 million.

FactSet says analysts expected the New York company to report earnings of 80 cents per share on $265.3 million in revenue.

FUTURE: Sirona forecast net income of $3.60 to $3.70 per share in the current fiscal year. Analysts expect $3.76 per share on average.

STOCK: Shares of Sirona fell $1.22, or 1.7 percent, to $71.39 in morning trading. Its shares had been up 12.6 percent so far this year.

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