Press release
Dentsply Sirona Reports Second Quarter 2020 Results
Reported net sales of $491 million, down 51.4% vs. prior year, impacted by COVID-19. Organic sales declined 49.9% versus prior yearReported operating loss of
About this update from Dentsply Sirona Inc.
[{"type":"text","content":"Reported net sales of $491 million, down 51.4% vs. prior year, impacted by COVID-19. Organic sales declined 49.9% versus prior yearReported operating loss of $104 million. Non-GAAP operating loss of $42 million Reported EPS loss of $0.44. Non-GAAP EPS loss of $0.18 CHARLOTTE, N.C., Aug. 06, 2020 (GLOBE NEWSWIRE) -- DENTSPLY SIRONA Inc. (“Dentsply Sirona”) (Nasdaq: XRAY), The Dental Solutions Company, announced its financial results for the three months ended June 30, 2020.\n Don Casey, Chief Executive Officer of Dentsply Sirona, commented: “The global response to COVID-19 impacted our second quarter results. We have been encouraged to see continued improvement in sales trends, as dental offices reopen and patients return. To address the challenges posed by the pandemic, Dentsply Sirona has taken a number of steps focused on employee safety, customer service and securing the financial position of the Company. Today, to better position the Company for the future, we are initiating a series of additional restructuring actions that will enhance revenue growth, expand margins, and simplify the organization. As we embrace the current challenges, we remain optimistic about the future and we are confident in our strategy, our customers, and the Dentsply Sirona team.” Q2 20 Operating Summary (GAAP) (in millions, except per share amount and percentages) Q2 20 Q2 19 YoYNet Sales 490.6 1,009.4 (51.4%)Operating (loss) income (104.3) 67.5 NMOperating (loss) income % (21.3%) 6.7% Net (loss) income (95.4) 36.4 NMNet (loss) income per diluted common share (0.44) 0.16 NM Q2 20 Operating Summary (Non-GAAP)[1] (in millions, except per share amount and percentages) Q2 20 Q2 19 YoYNet Sales 490.6 1,009.4 (51.4%)Organic Sales % (49.9%)Operating (loss) income (42.3) 201.8 NMOperating (loss) income % (8.6%) 20.0% Net (loss) income (40.2) 147.9 NMNet (loss) income per diluted common share (0.18) 0.66 NM NM - not meaningful[1] Organic sales, Non-GAAP operating (loss) income, Non-GAAP net (loss) income, and Non-GAAP EPS are Non-GAAP financial measures which exclude certain items. Please refer to the tables at the end of this release for a reconciliation between GAAP and Non-GAAP measures. Segment Results Consumables Segment Second quarter 2020 sales were $187 million, down 58.6% as compared to prior year. Foreign currency decreased sales by 0.9%. On an org...