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Home Industry News Henry Schein announces record results for Q2 2014

Henry Schein announces record results for Q2 2014

7th August 2014

Henry Schein has reported strong growth in the second quarter of 2014, achieving record-breaking financial results for the three months.

The company's net sales for the quarter came to $2.6 billion (1.54 billion pounds), up by 9.3 percent year on year, with net income also rising. This has prompted the firm to raise the lower end of its financial guidance range for the full year.

Its dental unit was able to gain market share both in the US and internationally, with strategic transactions during the quarter helping to expand its reach in France and Brazil. Its animal health, medical and technology and value-added service divisions also achieved better performances.

Net sales for the first half of 2014 came to $5.0 billion, up by 7.7 percent on the corresponding period of 2013. Earnings growth for the full year is expected to be in the range of eight to nine percent.

Stanley Bergman, chairman of the board and chief executive officer of Henry Schein, said: "Sales growth was solid during the second quarter with internal sales growth in local currencies the highest we have reported in the past year and a half."

According to the latest Fortune 500 ranking of the largest US-based corporations, Henry Schein is currently ranked in 292nd place – up four places from last year.ADNFCR-8000103-ID-801740741-ADNFCR

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