Henry Schein 1Q profit up 20 percent on international sales

For the quarter ended March 29, net income grew to $52.3 million, or 57 cents per share, from $43.5 million, or 48 cents per share, a year ago.

Sales rose 16 percent to $1.53 billion from $1.31 billion.

Analysts surveyed by Thomson Financial expected profit of 55 cents on revenue of $1.5 billion.

The company said dental group sales of $612 million were up 9 percent, reflecting gains in both traditional equipment and high-tech products. Medical group sales of $335 million declined 3.7 percent, as the company continued its strategy of reducing sales of certain lower-margin pharmaceutical products.

International sales of $540 million increased 46 percent in strong growth in the United Kingdom, Germany, Australia and New Zealand, bolstered by contributions from the recent acquisition of British animal health products supplier W. & J. Dunlop.

Looking ahead, the company affirmed 2008 profit guidance of $2.93 to $3 per share, up 14 percent to 16 percent over 2007. The outlook assumes the company will distribute 12 million to 15 million doses of influenza vaccine during the year, representing earnings of 13 cents to 16 cents per share.

Analysts have predicted full-year earnings per share of $2.96, on average.