Sirona has reported $182.9m revenue for the fourth quarter ended 30 September 2010, a decrease of $5.3m or down 2.8% (up 4.9% on a constant currency basis), compared to the same period last year.
Gross profit was $93.1m, up $1.1m. Gross profit margin was 50.9% in the fourth quarter of fiscal 2010, compared to 48.9% in the prior year.
The gross profit margin expansion was mainly the result of lower levels of amortisation expense.
Fourth quarter 2010 operating income excluding amortisation expense was $37.9m (operating income of $23.2m plus amortisation expense of $14.7m), compared to $43.3m (operating income of $24.7m plus amortisation expense of $18.6m) in the prior year.
Net income was $24.7m, or $0.44 per diluted share, compared to $26.7m, or $0.48 per diluted share in the prior year period.
Sirona CEO and chairman Jost Fischer said that the company posted another solid quarter to close out a very successful 2010 fiscal year.
“We delivered revenue and operating income results at the upper end of our guidance. Sirona generated industry leading revenue growth, margin expansion and record cash flow results, all of which were driven by our commitment to innovation and dedication to advancing dentistry.”
“Our position as the undisputed leader in dental technology allows us to compete effectively by offering practitioners best in class solutions to improve their workflow and enhance their profitability.Despite continued global economic uncertainty, we are pleased with the strong demand we are seeing for our technologically advanced product range. As a result of this strong demand, we currently expect robust constant currency revenue growth in the first quarter,” Fischer said.
Sirona develops, manufactures, and markets a complete line of dental products, including CAD CAM restoration systems (CEREC), digital intra-oral, panoramic and 3D imaging systems, dental treatment centers and handpieces.