Dentsply Sirona has reported increased net sales for its fiscal fourth quarter and all of 2017. However, the company posted an overall loss for the quarter and for the year.
For the quarter (end-December 31), net sales totaled $1.091 billion, an increase of 9.5% compared with $996.5 million in the fourth quarter of 2016. For the year, the company reported sales of more than $3.993 billion, a 6.6% increase from $3.745 billion in 2016.
Dentsply Sirona reported a net loss for the quarter of $673.4 million, compared with net income of $107.0 million in the same quarter of 2016. For the year, the company reported a net loss of $1.573 billion, compared with a net income of $429.9 million the previous year.
The company's net loss for the quarter is a result of a noncash goodwill impairment charge of $581.0 million and asset impairment charge of $266.9 million. The 2017 net loss is the result of a noncash impairment charge of approximately $1.674 billion for impairment of goodwill and an asset impairment charge of $346.7 million. The charges are not expected to have any impact on its liquidity or cash flow, according to Dentsply Sirona.
