Dentsply Sirona released its third quarter financial report.
Here are five takeaways:
1. For the quarter, the company's revenues declined 8 percent year-over-year to $928.4 million. In 2017, the company's third quarter revenue was $1 billion.
2. Dentsply Sirona's net income was $28 million compared to $90.6 million in the third quarter of 2017.
3. Dentsply Sirona's technology and equipment revenues declined 11.3 percent year-over-year due to significant inventory destocking.
4. The company plans to implement a comprehensive plan to accelerate revenue growth, improve margins and simplify the business. Dentsply Sirona plans to save $200 million to $225 million in costs by 2021 through the initiative.
5. By the end of the year, Dentsply Sirona predicts a 2 percent decrease in revenue.
To view the full report, click here.
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Here are five takeaways:
1. For the quarter, the company's revenues declined 8 percent year-over-year to $928.4 million. In 2017, the company's third quarter revenue was $1 billion.
2. Dentsply Sirona's net income was $28 million compared to $90.6 million in the third quarter of 2017.
3. Dentsply Sirona's technology and equipment revenues declined 11.3 percent year-over-year due to significant inventory destocking.
4. The company plans to implement a comprehensive plan to accelerate revenue growth, improve margins and simplify the business. Dentsply Sirona plans to save $200 million to $225 million in costs by 2021 through the initiative.
5. By the end of the year, Dentsply Sirona predicts a 2 percent decrease in revenue.
To view the full report, click here.
More articles on dentists:
Drs. Natalie Wong, Chad Gehani & more: 3 dentists making headlines
ADA establishes reimbursement code for Exparel: 3 things to know
American Academy of Implant Dentistry elects new president: 5 things to know