DENTSPLY SIRONA Inc. develops, manufactures and markets professional dental products, dental technologies, oral health products and other consumable medical devices under a broad brand portfolio. News for XRAY commonly covers quarterly results, outlook updates, restructuring actions, capital allocation, debt reduction, share repurchases and changes to distribution relationships for dental equipment and connected technology solutions.
Company updates also focus on digital dentistry and imaging products, including CEREC systems, intraoral scanning, CBCT imaging, DS Core, Smart View - Detect and dental-dedicated MRI work with Siemens Healthineers. Additional product news includes Surity urinary incontinence devices from Wellspect HealthCare, along with regulatory clearances, CE markings, commercial launches, board changes and investor conference participation.
Dentsply Sirona has launched two innovative imaging technologies, Axeos and Schick AE, aimed at enhancing dental practice efficiency and patient care. The Axeos system, awarded the Red Dot Award for Production Design 2020, offers a large field of view and smart connectivity with low radiation exposure. Schick AE's intraoral sensor is favored by over 80% of clinicians for its high-resolution images and durability. Both products integrate with various practice management systems, supporting better workflows and improved patient experiences.
Dentsply Sirona (Nasdaq: XRAY) reported Q2 2020 net sales of $491 million, a 51.4% decline from the previous year, primarily due to COVID-19 impacts. The company experienced an operating loss of $104 million, with a non-GAAP operating loss of $42 million. Reported loss per share was $0.44 and non-GAAP loss per share was $0.18. Restructuring efforts are underway to achieve annual cost savings of $250 million. The company is exiting traditional orthodontics and a portion of the analog laboratory business to focus on clear aligners and digital products.
DENTSPLY SIRONA (NASDAQ: XRAY) has declared a quarterly cash dividend of $0.10 per share, reflecting an annual rate of $0.40.
This dividend will be payable on October 9, 2020, to shareholders on record as of September 25, 2020.
Dentsply Sirona (NASDAQ: XRAY) will host an investor conference call on August 6, 2020, at 8:00 am ET, following an earnings press release. Investors can access the live webcast on the company's website. For participation, dial +1-877-370-7637 for domestic or +1-629-228-0723 for international calls, using Conference ID #3285259. A replay will be available for one week after the call. Dentsply Sirona is a leading global manufacturer of dental products with a 132-year history of innovation in the dental industry. Visit their site for more details.
Dentsply Sirona (Nasdaq: XRAY) announced a ruling on June 23, 2020, by the U.S. District Court for New Mexico, confirming that EdgeTaper Encore endodontic files infringe on three valid patents owned by Dentsply Sirona. The court also dismissed a request from Edge to dismiss claims of willful infringement, which could lead to treble damages. A trial is scheduled to begin on August 17, 2020, to address Dentsply Sirona's claims for willful infringement and damages related to additional patent claims.
Dentsply Sirona, a leading Dental Solutions Company, will attend the Stifel 2020 Jaws and Paws Conference on May 27, 2020. CEO Don Casey is set to participate in a fireside chat at 4:45 PM ET. Investors can access a live audio webcast of the presentation at www.dentsplysirona.com, with a replay available later. With a legacy of 132 years, Dentsply Sirona is the world's largest manufacturer of dental products, offering innovative solutions to enhance patient care. The company's stock is traded on Nasdaq under the symbol XRAY.
Dentsply Sirona (Nasdaq: XRAY) reported preliminary financial results for Q1 2020, with net sales of $874.3 million, a 7.6% decline year-over-year. The operating loss was $124.8 million, impacted by a $156.6 million non-cash goodwill impairment. Non-GAAP EPS stood at $0.43, down 12.2% from the previous year. The company has ~$1.3 billion in available liquidity. Due to COVID-19 uncertainties, guidance for fiscal year 2020 was withdrawn. Management noted early signs of demand recovery as markets begin to reopen.
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