May 7 (Reuters) - Dental and medical products
distributor Henry Schein missed first-quarter revenue
estimates on Tuesday, weighed by lingering effects of last
year's cybersecurity incident that disrupted its manufacturing
and distribution divisions.
The company had said on Oct. 15 it took some of its systems
offline after a cyber attack, contacted law enforcement
authorities and engaged outside experts to investigate the
breach.
Henry Schein, which supplies dental products such as
implants, posted revenue of $3.17 billion for the first quarter,
compared with analysts' average estimate of $3.21 billion,
according to LSEG data.
Revenue reflects a residual impact of last year's cyber
incident and lower sales of personal protective equipment (PPE)
due to lower glove pricing, the company said.
The Melville, New York-based company also trimmed the upper
end of its 2024 sales growth forecast to 10% from 12%, keeping
the lower end unchanged at 8%, saying it "reflects continued
recovery from last year's cyber incident and a strong pipeline
of new specialty products and software innovation".
Henry Schein re-affirmed its 2024 adjusted profit forecast
of $5.00 to $5.16 per share. Analysts on average expect $5.06
per share.
On an adjusted basis, the company earned $1.10 per share for
the quarter ended March 31, compared with analysts' estimate of
$1.01 per share.