Envista reported a 3.1% increase in sales to $631.4 million, with a core sales growth of 5.4%. Net income was $70.4 million, or $0.39 per diluted share, while adjusted net income was $84.9 million, or $0.47 per diluted share. The company also completed the acquisition of Carestream Dental’s Intraoral Scanner (IOS) business.
Sales increased by 3.1% to $631.4 million, with core sales growth of 5.4%.
Net income reached $70.4 million, or $0.39 per diluted share.
Adjusted net income was $84.9 million, or $0.47 per diluted share.
Adjusted EBITDA was $124.6 million, representing a margin of 19.7%.
Envista expects the newly branded DEXIS IOS business to deliver between $35 - $45 million in sales over the balance of 2022. They expect sales in the second quarter to be between $5 - $10 million with sales accelerating significantly throughout 2022. For the rest of our business, there is no change to our previous guidance. We expect to deliver core sales growth of between 6% - 8% for the full year 2022. We also expect our adjusted EBITDA margin to be greater than 20% for the full year. For the second quarter, we expect to deliver mid-single digit core sales growth and achieve an adjusted EBITDA margin in the high teens.
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