Henry Schein’s 2nd-quarter net income rises 15 percent on boost in sales

Henry Schein 2Q net income rises 15 percent

MELVILLE, N.Y. — Henry Schein Inc. said Monday its second-quarter profit rose 15 percent on a boost in dental and animal health sales in North America.

The medical device and services distributor earned $84 million, or 90 cents per share, up from $73.5 million, or 81 cents per share, during the same period a year prior. Revenue rose 15 percent to $1.85 billion from $1.61 billion.

Analysts polled by Thomson Reuters expected net income of 86 cents per share on $1.81 billion in revenue.

Henry Schein said its North American Dental sales rose 8.9 percent to $677.6 million in the quarter. North American Animal Health sales surged to $234.7 million with the addition of an animal health unit. Meanwhile, North American Medical sales were virtually flat at $286.3 million, hurt by lagging sales of products related to the H1N1 virus, which were strong in the 2009 quarter.

The company also narrowed its 2010 earnings guidance. Henry Schein now expects earnings per share to be between $3.46 and $3.56 instead of between $3.44 and $3.56. Analysts expect net income of $3.52 per share on $7.43 billion in revenue.