Dental News Roundup April 2011
BY LAUREN UZDIENSKI, APRIL 28, 2011
Earnings
Align Technology reported 1Q:11 revenues of $104.9 million, up 13% over the year-ago period and beating estimates by $3.9 million. Invisalign case shipments were 71.4 thousand during the quarter, up 12% over the year-ago period. Net income for 1Q:11 was $15.8 million, or $0.20 per diluted share, which compares to net income of $9.9 million, or $0.13 per diluted share, in 1Q:10. EPS beat estimates by $0.04.
Dentsply reported 1Q:11 sales of $570.5 million, up 5% over the year-ago period and beating estimates by $14.6 million. The company noted that net sales of dental consumable and specialty products accelerated during the quarter, while sales of dental laboratory products were lower, particularly for precious-metal-based materials. Net income for the first quarter of 2011 was $69.1 million, up 17% over the year-ago period. EPS of $0.48 was in line with estimates.
Nobel Biocare reported 1Q:11 sales of EUR 143.5 million ($202.3 million), up 2% over the year-ago period and beating estimates by EUR 1.3 million ($1.8 million). Sales in Europe, Middle East and Africa declined by 1%; North American sales increased by 10%; Asia Pacific declined by 5%, with the company noting that these results were affected by the earthquake; and Latin America/ROW declined by 10%. Net income declined to EUR 12.9 million ($18.2 million) from EUR 38.7 million in 1Q:11, missing estimates by EUR 2.3 million ($3.2 million). The company also disclosed that they had submitted a non-binding bid to acquire Astra Tech's dental implant business.
Straumann reported 1Q:11 sales of CHF 188.4 million ($204.4 million), up 4% over 1Q:10 and missing estimates by CHF 4.6 million ($5.0 million). European sales increased by 2%; North American sales increased by 8%; Asia Pacific increased by 2%; and ROW increased by 27%. The company attributed revenue growth to "implant volumes supported by the continuing success of the Bone Level range." Growth rates exclude the effects of currency.
M&A
Align Technology received early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, with respect to its proposed acquisition of Cadent Holdings, Inc. The acquisition of Cadent, announced on March 29, remains subject to other customary closing conditions. The Company expects the transaction to close in late April or early May 2011.
Product Introduction and Update
Astra Tech expanded their patient-specific abutment solutions to include Atlantis Abutments, which are intended for use with Astra Tech OsseoSpeed TX Profile implants. The company said the Atlantis devices offer "patient-specific, cement-retained implant prosthetics [that are] a natural complement to the anatomically-designed implant for sloped ridge situations launched by Astra Tech earlier this year."
Straumann announced that their European customers can now order CARES CAD/CAM precision inlays, onlays, veneers, crowns and partial crowns in VITA Mark II and TriLuxe glass ceramics. VITA Mark II and TriLuxe are fine-structure feldspar ceramics offered in a range of colors and shades.
