Sirona Dental Systems Earnings: Here’s Why Investors are Bidding Up Shares
Sirona Dental Systems Inc. (NASDAQ:SIRO) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares closed up 4.99%.
Sirona Dental Systems Inc. Earnings Cheat Sheet
Results: Net income increased 0.05% to $38.3 million (94 cents per diluted share) in the quarter versus a net gain of $38.28 million in the year-earlier quarter.
Revenue: Rose 5.53% to $272.4 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Sirona Dental Systems Inc. reported adjusted net income of 94 cents per share. By that measure, the company beat the mean analyst estimate of $0.84. It missed the average revenue estimate of $266.64 million.
Quoting Management: Jost Fischer, Chairman and CEO of Sirona commented: “It is extremely gratifying for my last quarter as CEO of Sirona to leave on such a high note, reporting a record first quarter. The Company is in an excellent position. We continue to see significant enthusiasm surrounding the launch of our revolutionary Omnicam. Demand was so strong that we could not fulfill all of our orders. I am pleased to report that the ramp up phase of manufacturing for the Omnicam is behind us. We continue to see strong demand across Sirona’s broad product portfolio and in all major geographies. I am pleased to see us begin fiscal 2013, building on last year’s success: we extended our global leadership position and delivered strong financial results.”
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