Henry Schein cuts 2009 financial forecast

Henry Schein has cut back its financial forecast for the year ahead.

The decision follows a 27 per cent decrease in net income for the fourth quarter of the fiscal year 2008.

It fell to $56.9 million (38.87 million pounds), translating to 64 cents a share. The same period the year before saw a net income profit of 78.3 million dollars, or 85 cents a share.

The dental and medical equipment supplier’s sales dropped as well by 7.5 per cent, taking the total down to $1.6 billion.

The company’s chief executive Stanley Bergman commented: “Our fourth-quarter dental group results reflect the current economic environment and uncertainty particularly impacting overall demand for dental equipment.”

Customers of Henry Schein include dental practices and laboratories, physician practices, as well and governmental and other institutions.

Worldwide, it employs over 6,000 people, selling its products in over 120 countries.

The firm states it offers the largest range of consumables in the UK, provides a wide range of technological products, along with a wide selection of own brand products.