By Dean Seal
Henry Schein recorded a smaller profit in the third quarter despite higher revenue as costs rose.
The provider of healthcare products for dental and medical offices posted a profit of $137 million, or $1.05 a share, compared with $150 million, or $1.09 a share, in the same quarter a year ago.
Stripping out one-time items, adjusted earnings were $1.32 a share, in line with the expectations of analysts surveyed by FactSet.
Sales rose to $3.16 billion from $3.07 billion in the year-ago quarter, below analyst projections for $3.21 billion, according to FactSet.
The Melville, N.Y.-based company said sales were boosted by acquisitions and foreign-currency translation, but would have been down otherwise due to market softening in the second half of the quarter along with lower sales of personal protective equipment and Covid-19 test kits.
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