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Sirona Reports Record Fiscal 2013 Fourth Quarter and Full Year Results
|||Record fourth quarter revenues of $278.6 million, up 12.6% compared to prior year, or up 8.3% constant currency*. Fiscal year 2013 revenues increased 12.5%, or up 11.7% constant currency.|
|||Fourth quarter diluted earnings per share of $0.65 on a GAAP reported basis compared to $0.62 in the prior year. Fourth quarter non-GAAP adjusted EPS* of $0.81, up 10.8% compared to $0.73 in the prior year. Fiscal 2013 EPS of $2.61 on a GAAP reported basis compared to $2.36 in the prior year. Fiscal 2013 non-GAAP adjusted EPS* of $3.41, up 12.4% compared to $3.03 in the prior year.|
|||Sirona announces fiscal 2014 guidance: revenue growth of 4% to 6% constant currency, and non-GAAP adjusted EPS* of $3.60 to $3.70 (reflecting growth of approximately 6% to 9%).|
Long Island City, New York, November 22, 2013 Sirona (Nasdaq: SIRO), the dental technology leader, today announced its financial results for the quarter and fiscal year ended September 30, 2013.
Fourth Quarter Fiscal 2013 vs. Fourth Quarter Fiscal 2012 Financial Results
Revenue was $278.6 million, an increase of $31.2 million or up 12.6% (and up 8.3% on a constant currency basis). The Companys business segments performed as follows: CAD/CAM Systems increased 35.2% (up 30.3% on a constant currency basis), Imaging Systems increased 5.5% (up 2.7% on a constant currency basis), Instruments increased 3.0% (down 2.6% on a constant currency basis), and Treatment Centers decreased 3.6% (down 8.9% on a constant currency basis).
Revenue in the United States increased another 2.8% on top of last years 34.1% growth. Q4 2012 was the first full quarter to benefit from the expanded exclusivity with Patterson and saw increased demand from the CEREC 27.5 event. Q4 2013 sales were particularly driven by the delivery of CAD/CAM trade-up units. Sales in international markets were strong, up 17.0% (up 10.6% constant currency), led by CAD/CAM and Imaging in Europe. Sales were exceptionally strong in Germany, which benefited from a CAD/CAM trade-up program as well as generally increasing demand for products in this segment.
Gross profit was $143.3 million, up $11.2 million. Gross profit margin was 51.4% in the fourth quarter of Fiscal 2013, compared to 53.4% in the prior year. Gross profit margin as a percent of sales was negatively impacted by unfavorable product mix which was partially offset by lower deal-related amortization.
|*||Non-GAAP adjusted EPS and constant currency growth and results are non-GAAP financial measures that exclude certain items. Please refer to Reconciliation of GAAP and non-GAAP Information (unaudited) in the attached exhibits for a description of these items.|
The following information was filed by Sirona Dental Systems, Inc. (SIRO) on Friday, November 22, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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