A one-time charge led Dentsply Sirona to report a $1.05 billion net loss for the fiscal second quarter of 2017, while revenue declined slightly.
For the quarter (end-June 30), revenues were $992.7 million, a decrease of 2.9% from $1.02 billion in the second quarter of 2016. The company reported a net loss of $1.05 billion, compared with income of $105.4 million in the same quarter of the previous year.
The company's net loss is the result of a noncash impairment charge of $1.09 billion for impairment of goodwill and an asset impairment charge of $79.8 million. The charges are not expected to have any impact on its future business operations, or any impact on its liquidity or cash flow, according to the company.
A factor in the decline in revenue was lower equipment sales to end users, primarily in the U.S., Dentsply Sirona noted. The company attributed this to transition challenges at its exclusive distributor.
