Henry Schein has announced its financial results for the third quarter of 2017, which was another record-breaking period for the company.
Net sales for the quarter came to $3.2 billion (2.44 billion pounds), representing a year-on-year increase of 10.3 percent. This consisted of an 8.8 percent growth rate in local currency terms and a 1.5 percent rise attributed to foreign currency trends.
“Henry Schein has reported a record-breaking financial performance during the third quarter of 2017.“
This was achieved despite recent hurricanes in the US and the fact that like-for-like comparisons were skewed by a successful dental equipment sales promotion in the third quarter of 2016.
Dental sales continued to account for the largest percentage of overall revenues, with the firm continuing to build its capabilities in this area. For the year to date, net sales have now reached $9.1 billion, up by 8.2 percent on the first nine months of 2016.
Stanley Bergman, chairman of the board and chief executive officer of Henry Schein, said: "Solid overall sales results for the quarter reflect continued success with our comprehensive offering of products and value-added services that drive internal growth, complemented by strategic acquisitions."
The company achieved a record sales total of $11.6 billion in 2016, and has grown at a compound annual rate of approximately 15 percent since becoming a public company in 1995. This momentum looks set to continue in 2017.
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