Henry Schein Reports Record Third Quarter 2018 Financial Results

Tuesday, November 6, 2018 General News
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- GAAP diluted EPS of $0.79 declined by 9.2% over prior-year GAAP diluted EPS

Management believes that non-GAAP financial measures provide investors with useful supplemental information about the financial performance of our business, enable comparison of financial results between periods where certain items may vary independent of business performance and allow for greater transparency with respect to key metrics used by management in operating our business. These non-GAAP financial measures are presented solely for informational and comparative purposes and should not be regarded as a replacement for corresponding, similarly captioned, GAAP measures.

(1)

Represents Q3 2018 and YTD 2018 restructuring costs of $8,853, net of $2,214 tax benefit, resulting in an after-tax effect of $6,639 and $27,511, net of $6,878 tax benefit, resulting in an after-tax effect of $20,633, respectively.

(2)

Represents Q3 2018 pre-tax charge of $38,488 related to a litigation settlement.  The associated tax benefit of $9,622 resulted in a net after tax charge of $28,866.  Represents YTD 2017 pre-tax charge of $5,325 related to a litigation settlement.  The associated tax benefit of $2,130 resulted in a net after tax charge of $3,195.

(3)

Represents Q3 2018 and YTD 2018 transaction costs, associated with the spin-off of our Animal Health business, of $7,282, net of $182 tax benefit, resulting in an after-tax effect of $7,100 and $18,670, net of $1,321 tax benefit, resulting in an after-tax effect of $17,349, respectively.

(4)

Represents a Q3 2018 one-time-charge of $3,914 related to a tax on reorganization of legal entities related to forming Henry Schein One.

(5)

Represents a Q3 2018 one-time-credit of $10,000 related to a change in the estimate of the transition tax on deemed repatriated foreign earnings.



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