York-based Dentsply International Inc. on Wednesday announced sales and earnings increases for both the fourth quarter and full year in 2012.
Net sales in the fourth quarter increased 2.1 percent to $753.3 million, compared to $738 million during the fourth quarter in 2011.
Net income for the fourth quarter was $126.8 million, or $0.88 per diluted share, compared to $40.6 million, or $0.28 per diluted share in the fourth quarter of 2011.
Full year sales jumped 15.4 percent to a record $2.9 billion.
Net income was a record $314.2 million, or $2.18 per diluted share, compared to $244.5 million, or $1.70 per diluted share for 2011.
"In 2012, we substantially improved our leverage ratios and are now in a good position to explore acquisitions, balanced with further debt reduction and return of cash to shareholders through dividends and share repurchases," CEO Bret Wise said in a statement.
He said he expects the global dental market to continue to grow this year.
"Based on these assumptions and current currency rates, we expect that our adjusted earnings will improve to a range of $2.38 to $2.48 per share for the current year," Wise said.