Sirona has reported its fourth-quarter results and had record results for fiscal 2014.
For the fourth quarter (end-September 30), the company reported revenues of $290 million, an increase of $11.4 million or 4.1% compared with the same period a year ago. Revenue in the U.S. decreased 8.3%, while revenues outside the U.S. increased 8.9%, according to the company.
Sirona Dental Systems' net income for the fourth quarter was $42.7 million, compared with $36.2 million in the prior-year period.
New user demand for both imaging and CAD/CAM remains robust, but could not compensate for a large trade-up program in the fourth quarter of last year, the company noted. Sales growth in international markets was particularly strong in Germany and Asia Pacific.
For the full fiscal year, revenue was $1.17 billion, an increase of $69.6 million or 6.3%. The company's business segments performed as follows: Instruments increased 16.1%, Treatment Centers increased 6.9%, Imaging Systems increased 5.8%, and CAD/CAM Systems increased 4.0%.
Revenues in the U.S. increased 4.7%, and revenues outside the U.S. increased 7.1%. U.S. revenues continued to benefit from strong, new-user demand for both the company's CAD/CAM and imaging products, but faced a difficult overall year-over-year comparison, with prior-year growth of 18.2% benefiting from trade-up programs, Sirona noted. Germany, its second-largest individual market, was down 2.5% constant currency over a challenging year-over-year comparison with prior-year growth of 23.4% constant currency. Strong local sales growth in other international markets (led by Japan, China, and Brazil) was largely offset by the weakening of major currencies in these markets, according to the company.
Net income attributable to Sirona Dental Systems for fiscal 2014 was $175.7 million, compared with $146.8 million last year.
