UPDATE: Henry Schein Q4 Earnings Beat Views

reported stronger-than-expected earnings for the fourth quarter. The Melville, New York-based company posted quarterly earnings of $133 million, or $1.56 per share, compared to $124 million, or $1.43 per share, in the year-ago period. Its revenue gained 7% to $2.7 billion. However, analysts were expecting earnings of $1.51 per share on revenue of $2.72 billion. Dental sales climbed 3.9% to $1.4 billion, while animal health sales surged 12.3% to $731.6 million in the quarter. Medical sales rose 9.5% to $461.7 million, while technology and value-added services sales gained 3.3% to $91.3 million in the quarter. During the quarter, Henry Schein repurchased around 595,000 shares of its common stock at an average price of $124.00 per share. "We closed out 2014 with strong fourth quarter financial results that once again included market share gains in each of our four business groups. The global markets we serve remain generally healthy, highlighted by continued strong patient traffic in North America, and we are particularly pleased with the solid internal sales growth in local currencies in our international businesses," said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein. Henry Schein projects FY15 earnings of $5.90 to $6 per share, versus analysts' estimates of $5.92 per share. Henry Schein shares closed at $141.22 yesterday.