DENTSPLY International Inc. (NASDAQ:XRAY) Q4 2014 Earnings Conference Call - Final Transcript
Feb 18, 2015 • 08:30 am ET
Good day and welcome to the DENTSPLY International Fourth Quarter Year-End 2014 Earnings Call. Today's conference is being recorded.
At this time I will like to turn the conference over to Mr. Derek Leckow, Vice President of Investor Relations. Sir, you may begin.
Thank you, Kyle. Good morning everyone and thank you for joining us to discuss DENTSPLY International's fourth quarter and fiscal 2014 results. I'm joined by Bret Wise, DENTSPLY's Chairman and Chief Executive Officer; Chris Clark, our President and Chief Financial Officer; and Jim Mosch, our Executive Vice President and Chief Operating Officer.
I hope you had a chance to review our press release issued earlier this morning. A copy of the release and a set of supplemental slides and information relating to non-GAAP financials are available for download in the Investor Relation's section of our website, www.dentsply.com under the heading quarterly results. And don't forget the Safe Harbor language and US GAAP reconciliation contained in today's release also pertain to this conference call.
We may make forward-looking statements involving risks and uncertainties. These should be considered in conjunction with the risk factors and uncertainties that are described in the release and in our SEC filings. It is possible that actual results may differ materially from the forward-looking statements that we make today. The company undertakes no obligation to update or revise any forward-looking statements to reflect events or circumstances that may arise after the date of this call.
With that, I would now like to turn the call over to Bret Wise. Bret?
Thank you, Derek and good morning, everyone. Thank you for joining us again on the call this morning. I have just a few opening comments on the state of the markets, our strategic priorities, and then briefly on our results, and then I'll turn the call over to Jim and Chris who will provide more details.
First on the markets, generally the trends that we saw earlier in the year continued in Q4. Overall, the global markets were reasonably stable with the exception of the CIS region which continued in steep decline.
US markets certainly is showing signs of life, probably at about the same pace as in Q3 or may be a little bit better. The European market, ex-CIS, remained flattish with some markets growing slowly and some contracting a bit. However, I will say there is a slight bias towards improvement there, the markets that we're growing, there are more of them and they are a little bit more robust and there are fewer markets that we are contracting.
Rest of the world was of course a mixed bag. Growth markets continued to be China, select countries in Asia, India, Middle East, and Canada, while Australia was stable and Japan and Brazil declined modestly. Overall, I'd say the market trends are very consistent with what we saw earlier in the year, may be with a slight bias towards getting better.
Moving to DENTSPLY, we entered 2014 focused on new project launches and growth,