Henry Schein’s Vet Business Sees Marked Increase
Henry Schein Inc.’s North American veterinary division May 4 reported revenue of $206.6 million for its first quarter ended March 27, up 271.5 percent from the year-ago period. The figure includes sales of Butler Schein Animal Health since Jan. 1.
“Butler Schein Animal Health is the largest distributor to veterinary practices in North America, and we are pleased that the integration of that business is progressing according to plan,” said Stanley Bergman, chairman and chief executive officer of Henry Schein.
International sales of $609.5 million increased 16.4 percent, consisting of 7.5 percent growth in local currencies and 8.9 percent growth related to foreign currency exchange.
“International growth reflects strong performance in the dental and veterinary businesses, as well as particular strength in France, Australia, Germany, Spain and Switzerland,” Bergman said. “With continuing sales growth in our international business combined with the effects of a restructuring completed in the first quarter of 2010, we look forward to further increasing our international operating margins.”
Overall, Henry Schein reported net income of $67.3 million on revenue of $1.8 billion for its first quarter, compared to net income of $59.3 million on revenue of $1.5 billion in the year-ago period.