Henry Schein posts leap in net profits

Henry Schein CEO Stanley Bergman with CNBC's Jim "Mad Money" Cramer.

Melville-based Henry Schein reported an 11.3 percent jump in net profits for the third quarter on Wednesday. And that despite an $8.4 million pre-tax restructuring charge.

Net profits were $127.7 million, or $1.52 a share, up from $114.8 million ($1.34 a share) in the third quarter of 2014. Sales climbed 2.4 percent to $2.69 billion from $2.62 billion.

Excluding the restructuring charges as well as a one-time tax benefit, net profits would have been $130.6 million ($1.55 a share), up 13.7 percent, thanks to a 24.3 percent increase in medical sales.
The firm has announced a steady beat of acquisitions recently, including deals with a Pennsylvania animal-health firm and, yesterday, an Italian dental products firm.