National Dentex Corporation Announces First Quarter Results

Apr 24, 2001, 01:00 ET from National Dentex Corporation

    WAYLAND, Mass., April 24 /PRNewswire Interactive News Release/ --
 National Dentex Corporation (Nasdaq:   NADX), the largest owner/operator of
 dental laboratories in the United States, reported first quarter net income
 slightly improved from a year earlier.  Net income was $1,485,000, or $.42 per
 diluted share.  That compares with $1,453,000, or $.41 per diluted share for
 last year's period.  Sales increased 8.7% to $20,606,000 from $18,960,000.
     David Brown, President and CEO, commented: "The first three months of 2001
 resulted in a slight increase in earnings while the industry, as a whole,
 appears to be encountering softening demand.  Our first quarter results
 reflect a modest internal sales growth, which when combined with increased
 operating costs, particularly materials, has reduced our laboratory operating
 income from 18.4% of net sales in the first quarter last year to 17.2% in
 2001.  We believe our ongoing emphasis on improving internal productivity, as
 well as recent pricing adjustments, will position us to successfully manage in
 this uncertain market environment.  We will continue our efforts to address
 the pressures on our margins from increased labor and material costs, as well
 as delivery expenses, through our recently expanded field management team,
 which includes the addition of a National Sales Director.
     "In addition we have aggressively pursued acquisition opportunities.
 During the last five months, we have completed three stand alone acquisitions,
 the latest being Creative Dental Ceramics of Minneapolis, in March.  We
 currently have another stand alone acquisition under a signed letter of
 intent, awaiting the completion of due diligence, as well as several other
 potential candidates at various stages of discussions.  We remain firmly
 committed to this acquisition strategy to generate future growth and create
 shareholder value.
     "We are confident that National Dentex will continue to build and improve
 its organization of laboratories and enhance its position as the leading
 operator of high quality dental laboratories in the United States."
     National Dentex Corporation serves an active customer base of
 approximately 12,000 dentists through dental laboratories located in 24
 states.  National Dentex's dental laboratories provide a full range of custom-
 made dental prosthetic appliances.
 
     This press release contains forward-looking statements within the meaning
 of the federal securities laws.  The Company's actual results could be
 materially different as a result of a number of factors, including general
 economic conditions, the Company's ability to acquire and successfully operate
 additional laboratories, governmental regulation of health care, trends in the
 dental industry towards managed care, increases in labor and material costs
 and other risks indicated from time to time in the Company's filings with the
 Securities and Exchange Commission.
 
 
                          National Dentex Corporation
                                Earnings Results
 
                     (In thousands, except per share data)
 
                                                      Quarter Ended March 31,
                                                        2000           2001
 
     Net Sales                                        $18,960        $20,606
 
     Net Laboratory Operating Income                    3,498          3,534
                                                         18.4%          17.2%
     Field Support and Corporate Overhead                 871            773
 
     Income before Amortization and Interest            2,627          2,761
 
     Amortization                                         335            384
     Interest Income                                     (130)          (112)
 
     Income Before Tax                                  2,422          2,489
     Income Taxes                                         969          1,004
 
     Net Income                                        $1,453         $1,485
 
     Weighted Average Shares Outstanding:
       - Basic                                          3,552          3,498
       - Diluted                                        3,569          3,574
 
     Net Income per Share - Basic                       $0.41          $0.42
     Net Income per Share - Diluted                      0.41           0.42
 
 
      Contact:
      Richard F. Becker, Vice President, Treasurer & CFO
      (508) 358 - 4422
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X64189123
 
 

SOURCE National Dentex Corporation
    WAYLAND, Mass., April 24 /PRNewswire Interactive News Release/ --
 National Dentex Corporation (Nasdaq:   NADX), the largest owner/operator of
 dental laboratories in the United States, reported first quarter net income
 slightly improved from a year earlier.  Net income was $1,485,000, or $.42 per
 diluted share.  That compares with $1,453,000, or $.41 per diluted share for
 last year's period.  Sales increased 8.7% to $20,606,000 from $18,960,000.
     David Brown, President and CEO, commented: "The first three months of 2001
 resulted in a slight increase in earnings while the industry, as a whole,
 appears to be encountering softening demand.  Our first quarter results
 reflect a modest internal sales growth, which when combined with increased
 operating costs, particularly materials, has reduced our laboratory operating
 income from 18.4% of net sales in the first quarter last year to 17.2% in
 2001.  We believe our ongoing emphasis on improving internal productivity, as
 well as recent pricing adjustments, will position us to successfully manage in
 this uncertain market environment.  We will continue our efforts to address
 the pressures on our margins from increased labor and material costs, as well
 as delivery expenses, through our recently expanded field management team,
 which includes the addition of a National Sales Director.
     "In addition we have aggressively pursued acquisition opportunities.
 During the last five months, we have completed three stand alone acquisitions,
 the latest being Creative Dental Ceramics of Minneapolis, in March.  We
 currently have another stand alone acquisition under a signed letter of
 intent, awaiting the completion of due diligence, as well as several other
 potential candidates at various stages of discussions.  We remain firmly
 committed to this acquisition strategy to generate future growth and create
 shareholder value.
     "We are confident that National Dentex will continue to build and improve
 its organization of laboratories and enhance its position as the leading
 operator of high quality dental laboratories in the United States."
     National Dentex Corporation serves an active customer base of
 approximately 12,000 dentists through dental laboratories located in 24
 states.  National Dentex's dental laboratories provide a full range of custom-
 made dental prosthetic appliances.
 
     This press release contains forward-looking statements within the meaning
 of the federal securities laws.  The Company's actual results could be
 materially different as a result of a number of factors, including general
 economic conditions, the Company's ability to acquire and successfully operate
 additional laboratories, governmental regulation of health care, trends in the
 dental industry towards managed care, increases in labor and material costs
 and other risks indicated from time to time in the Company's filings with the
 Securities and Exchange Commission.
 
 
                          National Dentex Corporation
                                Earnings Results
 
                     (In thousands, except per share data)
 
                                                      Quarter Ended March 31,
                                                        2000           2001
 
     Net Sales                                        $18,960        $20,606
 
     Net Laboratory Operating Income                    3,498          3,534
                                                         18.4%          17.2%
     Field Support and Corporate Overhead                 871            773
 
     Income before Amortization and Interest            2,627          2,761
 
     Amortization                                         335            384
     Interest Income                                     (130)          (112)
 
     Income Before Tax                                  2,422          2,489
     Income Taxes                                         969          1,004
 
     Net Income                                        $1,453         $1,485
 
     Weighted Average Shares Outstanding:
       - Basic                                          3,552          3,498
       - Diluted                                        3,569          3,574
 
     Net Income per Share - Basic                       $0.41          $0.42
     Net Income per Share - Diluted                      0.41           0.42
 
 
      Contact:
      Richard F. Becker, Vice President, Treasurer & CFO
      (508) 358 - 4422
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X64189123
 
 SOURCE  National Dentex Corporation