Dentsply Sirona Inc. reported a net loss in the fourth quarter of 2017, and forecast an EPS growth in 2018.
On a GAAP basis, net loss attributable to the company was $673.4 million, or a loss per share of $2.95, compared to net income of $107.0 million, or EPS of 46 cents, in the fourth quarter of 2016.
On a non-GAAP adjusted basis, the EPS for the quarter came in at 82 cents, up from 67 cents in the prior year.
The S&P Capital IQ consensus normalized non-GAAP EPS estimate for the fourth quarter was 81 cents.
On a GAAP basis, net sales for the three months ended Dec. 31, 2017, reached $1.09 billion, up from $996.5 million in the year-ago period. Dentsply said sales received a favorable impact of about $21 million due to an inventory build in distribution channels in the current period.
For the full year of 2017, net loss attributable to Dentsply was $1.57 billion, compared to net income of $429.9 million in 2016.
Net sales for the full year grew to $3.99 billion, from $3.75 billion in the year-ago period.
The York, Pa.-based company, which makes professional dental products and technologies, said it expects 2018 non-GAAP adjusted EPS to range between $2.70 and $2.80. The guidance shows a 16-cent adverse impact on tax expense due to tax reform plus a higher adjusted non-GAAP effective tax rate. Dentsply expects adjusted EPS growth to range from 8% to 11%.
The S&P Capital IQ consensus normalized EPS estimate for 2018 $2.87.
