UPDATE 3-Sirona Dental Q1 results lag analysts' estimates
* Reiterates 2009 rev view
* Sees weaker 2009 H1
* Shares down as much as 9 percent (Recasts; adds details, updates share movement)
BANGALORE, Thu Feb 5, 2009 2:02pm EST (Reuters) - Sirona Dental Systems Inc (SIRO.O) posted quarterly results below analysts' estimates, hurt by slowing dental procedures and lower sales of high-end devices in a shrinking economy, sending its shares down as much as 9 percent.
For the first quarter, revenue fell 10 percent to $179.7 million. Sales at the computer aided design/computer aided manufacturing segment shrunk 13 percent while revenue at the treatment segment declined 12 percent.
"Instrument (segment) revenue declined 14 percent or down 6 percent, on a constant currency basis, with the weakest performance in Germany," Chief Financial Officer Simone Blank said on a conference call with analysts.
For the quarter ended Dec. 31, the dental equipment maker posted net income of $5.6 million, or 10 cents a share, compared with $17.0 million, or 31 cents a share, in the year ago period.
The latest quarter profit included a charge of 22 cents on depreciation and amortization and other charges that totalled 5 cents.
Analysts were expecting a profit of 50 cents, including stock-based compensation but excluding amortization, on revenue of $184.5 million, according to Reuters Estimates.
The company, which makes CEREC AC -- a three-dimensional designing system, also reiterated its forecast of flat 2009 revenue and operating income, excluding amortization.
Blank said the company's first half will be weak, but its second half is likely to be stronger, driven by the product launches including CEREC AC.
Sirona said CEREC AC would add to its sales till the second quarter and could be upgraded with an accretive margin in the third quarter.
The Long Island City, New York-based company said it expects the cash flow and deal related amortization for 2009 to be flat. As of Dec. 31, 2008, the company had cash and cash equivalents of $143.7 million and total debt of $548.5 million.
Sirona Dental shares touched a low of $11.91, but pared some of its losses to trade down 6 percent at $12.30 Thursday on Nasdaq.
For the alerts, double click [ID:nWNAB8586] . For the company press release, double click [ID:nBw055315a] (Reporting by Vidya L Nathan in Bangalore; Editing by Amitha Rajan, Anil D'Silva)
Q1 results well below estimates
* Sees weaker 2009 H1
* Shares down as much as 9 percent (Recasts; adds details, updates share movement)
BANGALORE, Thu Feb 5, 2009 2:02pm EST (Reuters) - Sirona Dental Systems Inc (SIRO.O) posted quarterly results below analysts' estimates, hurt by slowing dental procedures and lower sales of high-end devices in a shrinking economy, sending its shares down as much as 9 percent.
For the first quarter, revenue fell 10 percent to $179.7 million. Sales at the computer aided design/computer aided manufacturing segment shrunk 13 percent while revenue at the treatment segment declined 12 percent.
"Instrument (segment) revenue declined 14 percent or down 6 percent, on a constant currency basis, with the weakest performance in Germany," Chief Financial Officer Simone Blank said on a conference call with analysts.
For the quarter ended Dec. 31, the dental equipment maker posted net income of $5.6 million, or 10 cents a share, compared with $17.0 million, or 31 cents a share, in the year ago period.
The latest quarter profit included a charge of 22 cents on depreciation and amortization and other charges that totalled 5 cents.
Analysts were expecting a profit of 50 cents, including stock-based compensation but excluding amortization, on revenue of $184.5 million, according to Reuters Estimates.
The company, which makes CEREC AC -- a three-dimensional designing system, also reiterated its forecast of flat 2009 revenue and operating income, excluding amortization.
Blank said the company's first half will be weak, but its second half is likely to be stronger, driven by the product launches including CEREC AC.
Sirona said CEREC AC would add to its sales till the second quarter and could be upgraded with an accretive margin in the third quarter.
The Long Island City, New York-based company said it expects the cash flow and deal related amortization for 2009 to be flat. As of Dec. 31, 2008, the company had cash and cash equivalents of $143.7 million and total debt of $548.5 million.
Sirona Dental shares touched a low of $11.91, but pared some of its losses to trade down 6 percent at $12.30 Thursday on Nasdaq.
For the alerts, double click [ID:nWNAB8586] . For the company press release, double click [ID:nBw055315a] (Reporting by Vidya L Nathan in Bangalore; Editing by Amitha Rajan, Anil D'Silva)
Q1 results well below estimates
posted by Zo Heri at 5:37 PM
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