Get All Access for FREEMarket News & Research,
Live Transcripts & Audio,
and a whole lot more…
$XRAY's cash flows from operating activities during the year ended December 31, 2015 were $497.4MM. Investing activities during 2015 include Capex of $72MM and acquisitions of businesses of $54MM, reduced by proceeds from the redemption of corporate convertible bonds of $47.7MM. Total debt fell by $108.8MM for the year ended December 31, 2015.
$XRAY appointed two new leadership team members effective immediately. Nick Alexos joins the company as EVP, Chief Administrative Officer, reporting to Mark Thierer, Interim CEO. Additionally, Keith Ebling joins as EVP, General Counsel & Secretary, also reporting to Mark Thierer. He replaces Jonathan Friedman who resigned from the company.
$XRAY announced that as part of its leadership changes, the board has accepted resignations from Bret Wise, Executive Chairman; Jeffrey Slovin, CEO and Director; and Christopher Clark, President and COO. The company reiterated adjusted EPS guidance for 2017 of $2.65-2.75. The BoD has also initiated search process to identify permanent CEO and COO.
$XRAY's BoD has implemented leadership changes intended to better position the cmpany to achieve its potential. The leadership changes include the appointment of Mark Thierer as Interim CEO and Bob Size as Interim President and COO. Additionally, Eric Brandt was elected as Non-Executive Chairman of the Board.
$XRAY has appointed Mark Thierer as interim CEO and Bob Size as interim President and COO. Additionally, Eric Brandt was elected as non-Executive Chairman of the Board. The company added that the Board has accepted resignations from Bret Wise, Executive Chairman; Jeffrey Slovin, CEO and Director; and Christopher Clark, President and COO.
Dental solutions provider $XRAY declared a quarterly cash dividend of $0.0875 per common share. The corresponding annual rate has increased 12.9% to $0.35 per share from the prior annual rate of $0.31 per share. The dividend is payable on April 13, 2017 to shareholders of record on March 31, 2017.
$XRAY agreed to a new distribution agreement in Canada. The company announced a new distribution agreement with Henry Schein Canada. This new agreement, effective Sept. 1, 2017 through Dec. 31, 2020, will expand the market opportunity for $XRAY's leading brands and integrated solutions, including Cerec and Schick.
$HSIC extended its existing agreement in Canada with $XRAY to include the CEREC CAD/CAM restoration system and the Schick line of imaging sensors. Henry Schein Canada will represent the entire $XRAY product line, effective Sept. 1, 2017. The revised agreement is expected to be neutral to $HSIC EPS in 2017 and accretive thereafter.
Dental solutions provider $XRAY has extended its partnership with Pacific Dental Services (PDS) by five more years. Under the agreement, PDS and the 1,600-plus dentists it supports will get access to Dentply’s consumables and the new technologies and services it offers. PDS-supported practices will be offered with Dentsply equipment and technology.
Dental products manufacturer $XRAY reported 82.5% rise in its 4Q16 earnings, helped by increase in net sales. The company's net income rose to $107MM, or $0.46 per share, compared to $58.6MM, or $0.41 per share during 4Q15. Net sales during the quarter rose 48.5% YoY to $996.5MM from $671.1MM. Excluding items, $XRAY earned $0.67 per share.