Press release
Dentsply Sirona Reports Preliminary First Quarter 2020 Results
Reported net sales of $874.3 million, down 7.6% in the first quarter. Organic sales declined 4.3%Reported operating loss was $124.8 million and operating
About this update from Dentsply Sirona Inc.
[{"type":"text","content":"Reported net sales of $874.3 million, down 7.6% in the first quarter. Organic sales declined 4.3%Reported operating loss was $124.8 million and operating margin was negative 14.3%. Non-GAAP operating income was $130.7 million and operating income margin was 14.9%Reported EPS was a loss of $0.63. Non-GAAP EPS was $0.43Available liquidity of ~ $1.3 billion CHARLOTTE, N.C., May 08, 2020 (GLOBE NEWSWIRE) -- DENTSPLY SIRONA Inc. (“Dentsply Sirona”) (Nasdaq: XRAY), The Dental Solutions Company, announced its preliminary financial results for the three months ended March 31, 2020.\n Don Casey, Chief Executive Officer, commented: “The ongoing execution of our plan, and in particular, our continued emphasis on new product introductions and improved organizational efficiency, drove solid revenue growth and margin expansion early in the first quarter. In mid-March, the global response to the COVID-19 pandemic changed the market dynamics for both dental practitioners and their patients. As a company, we moved quickly to ensure employee safety, continued high customer service levels, and to further enhance our strong balance sheet. In addition, Dentsply Sirona took the appropriate steps to contain costs in both SG&A and in our supply chain.” Mr. Casey added: “We continue to drive the strategic initiatives that position us well for the future. Despite the current short-term disruption, we are starting to see early signs of improvement in demand in countries that are beginning to re-open their economies. Longer-term, we believe that our industry fundamentals are sound and that Dentsply Sirona’s financial strength, broad portfolio, and global reach position the Company to succeed and win as we move forward.” Q1 20 Operating Summary (GAAP) (in millions, except per share amount and percentages) Q1 20 Q1 19 YoYNet Sales 874.3 946.2 (7.6 %)Operating (loss) income (124.8) 47.3 NMOperating (loss) income % (14.3%) 5.0% Net (loss) income (139.9) 39.2 NMNet (loss) income per diluted common share (0.63) 0.17 NM NM - not meaningful Q1 20 Operating Summary (Non-GAAP)[1] (in millions, except per share amount and percentages) Q1 20 Q1 19 YoYNet Sales 874.3 946.2 (7.6 %)Organic Sales % (4.3 %)Operating income 130.7 145.5 (10.2 %)Operating income % 14.9% 15.4% Net income 95.5 109.8 (13.0 %)Net income per diluted common share 0.43 0.49 (12.2 %) [1] Organic sale...