DENTSPLY International Inc. : DENTSPLY International Reports First Quarter 2013 Results

  DENTSPLY International Inc. : DENTSPLY International Reports First Quarter
                                 2013 Results

  *Net sales were a record for the first quarter and increased 2.2% and  1.1% 
    excluding precious metals

  *Earnings per diluted share of $0.49 on a GAAP reported basis and $0.52  on 
    an adjusted basis

York, PA -  May 9,  2013 - DENTSPLY  International Inc.  (NASDAQ: XRAY)  today 
announced sales and earnings for the three months ended March 31, 2013.

Net sales in the first quarter of  2013 increased 2.2% to $732.1 million  from 
$716.4 million in the  first quarter of 2012.  Net sales, excluding  precious 
metals content, in the first quarter of 2013 of $672.6 million increased  1.1% 
from $665.6 million in the first quarter of 2012. Constant currency net sales
growth, excluding  precious metals  content, in  the first  quarter was  1.7%, 
driven by modest internal  growth in all regions  against a relatively  strong 
prior year comparison.  

Net income attributable  to DENTSPLY  International for the  first quarter  of 
2013 was $71.7 million, or $0.49 per diluted share, compared to $53.3 million,
or $0.37 per  diluted share  in the  first quarter  of 2012.  On an  adjusted 
basis, excluding certain items, earnings were $0.52 per diluted share for both
the first quarter  of 2013 and  2012, respectively. A  reconciliation of  the 
non-GAAP measure to earnings per share calculated on a GAAP basis is  provided 
in the attached table.

Bret Wise, Chairman  and Chief  Executive Officer,  stated "DENTSPLY  reported 
record revenue and  flat adjusted  earnings per  share for  the first  quarter 
reflecting the  slow  growth  of  the global  dental  market  at  present  and 
important investments  made  by  the  Company  during  the  quarter.  Looking 
forward, we believe that  we have opportunities to  accelerate growth in  both 
sales  and  earnings  as  the  year  progresses.  Given  the  current  market 
environment and currency exchange rates, we are revising our expectations  for 
adjusted earnings per share for 2013 to a range of $2.33 to $2.43." 

Additional Information

A conference call  is scheduled to  begin today at  8:30 a.m. (Eastern  Time). 
Supplemental materials for reference  during the call  will be available  for 
download in  the  investor  relations  section  of  DENTSPLY's  web  site,  at 
www.dentsply.com. 

A live  webcast will  be  accessible via  a link  on  DENTSPLY's web  site  at 
www.dentsply.com. In order to  participate in the  call, dial (888)  500-6973 
for domestic calls, or (719) 457-2662 for international calls. The Conference
ID # is 3903926. At that time, you will be able to discuss first quarter 2013
results with DENTSPLY's Chairman and  Chief Executive Officer, Mr. Bret  Wise, 
President and Chief  Financial Officer,  Mr. Chris Clark,  and Executive  Vice 
President and Chief Operating Officer, Mr. Jim Mosch. 

A rebroadcast of the conference call will be available online at the  DENTSPLY 
web site. You may  also access a  dial-in replay for  one week following  the 
call  at  (888)  203-1112  (for   domestic  calls)  or  (719)  457-0820   (for 
international calls), Replay Passcode # 3903926. 

DENTSPLY International  Inc.  is a  leading  manufacturer and  distributor  of 
dental and other consumable medical device products. The Company believes  it 
is the  world's largest  manufacturer of  consumable dental  products for  the 
professional dental  market. For  over 110  years, DENTSPLY's  commitment  to 
innovation and  professional  collaboration  has  enhanced  its  portfolio  of 
branded consumables and small equipment. Headquartered in the United  States, 
the Company  has global  operations with  sales in  more than  120  countries. 
Visit www.dentsply.com for more information about DENTSPLY and its products.

This press release contains forward-looking information (within the meaning of
the Private Securities Litigation Reform Act of 1995) regarding future  events 
or the future financial  performance of the  Company that involve  substantial 
risks and uncertainties. Actual events or results may differ materially  from 
those in the projections or other forward-looking information set forth herein
as a result  of certain  risk factors.  These risk  factors include,  without 
limitation; the continued strength of dental and medical markets, the  timing, 
success and market reception  for our new  and existing products,  uncertainty 
with respect  to  governmental actions  with  respect to  dental  and  medical 
products, outcome  of  litigation  and/or  governmental  enforcement  actions, 
continued  support  of  our  products   by  influential  dental  and   medical 
professionals, our  ability  to  successfully  integrate  acquisitions,  risks 
associated with foreign currency  exchange rates, and  changes in the  general 
economic  environment  that  could  affect  the  business.  Changes  in  such 
assumptions or factors could produce significantly different results.

For an additional description of risk  factors, please refer to the  Company's 
most recent Form 10-K and its subsequent periodic reports on Forms 10-Q  filed 
with the Securities and Exchange Commission.

Non-GAAP Financial Measures

In addition to the  results reported in accordance  with US GAAP, the  Company 
provides adjusted  net  income  attributable  to  DENTSPLY  International  and 
adjusted earnings per diluted common share. These adjusted amounts consist of
US GAAP  amounts excluding,  net of  tax (1)  acquisition related  costs,  (2) 
restructuring and other costs,  including legal settlements, (3)  amortization 
of purchased intangible assets, (4) Orthodontic business continuity costs, (5)
income related to  credit risk and  fair value adjustments,  (6) certain  fair 
value adjustments at an unconsolidated affiliated company, and (7) income  tax 
related adjustments. Adjusted earnings per diluted common share is calculated
by dividing  adjusted net  income attributable  to DENTSPLY  International  by 
diluted weighted-average  common  shares  outstanding.  Adjusted  net  income 
attributable to  DENTSPLY  International  and adjusted  earnings  per  diluted 
common share  are considered  measures not  calculated in  accordance with  US 
GAAP, and therefore are non-US GAAP measures. These non-US GAAP measures  may 
differ from other companies. Income  tax related adjustments may include  the 
impact to adjust the interim effective income tax rate to the expected  annual 
effective tax rate.

The Company believes that the presentation of adjusted net income attributable
to DENTSPLY  International  and adjusted  earnings  per diluted  common  share 
provides  important  supplemental  information  to  management  and  investors 
seeking to  understand  the  Company's  financial  condition  and  results  of 
operations. The non-US GAAP financial information should not be considered in
isolation from,  or as  a substitute  for, measures  of financial  performance 
prepared in accordance with US GAAP.

                         DENTSPLY INTERNATIONAL INC.
                    CONSOLIDATED STATEMENTS OF OPERATIONS
                   (In thousands, except per share amounts)
                                                         Three Months Ended
                                                             March 31,
                                                         2013         2012
Net sales                                             $ 732,084    $ 716,413
Net sales, excluding precious metal content             672,649      665,625
Cost of products sold                                   343,884      323,663
Gross profit                                            388,200      392,750
% of Net sales                                             53.0 %       54.8 %
% of Net sales, excluding precious metal content           57.7 %       59.0 %
Selling, general and administrative expenses            293,677      304,353
Restructuring and other costs                               665        1,237
Operating income                                         93,858       87,160
% of Net sales                                             12.8 %       12.2 %
% of Net sales, excluding precious metal content           14.0 %       13.1 %
Net interest and other expense                           15,964       13,969
Income before income taxes                               77,894       73,191
Provision for income taxes                                3,542       14,715
Equity in net loss of
unconsolidated affiliated company                        (1,779 )     (4,248 )
Net income                                               72,573       54,228
% of Net sales                                              9.9 %        7.6 %
% of Net sales, excluding precious metal content           10.8 %        8.1 %
Less: Net income attributable to noncontrolling
interests                                                   888          944
Net income attributable to DENTSPLY International     $  71,685    $  53,284
% of Net sales                                              9.8 %        7.4 %
% of Net sales, excluding precious metal content           10.7 %        8.0 %
Earnings per common share:
Basic                                                 $    0.50    $    0.38
Dilutive                                              $    0.49    $    0.37
Cash dividends declared per common share              $  0.0625    $  0.0550
Weighted average common shares outstanding:
Basic                                                   142,775      141,721
Dilutive                                                145,099      143,984

                    DENTSPLY INTERNATIONAL INC.
               CONDENSED CONSOLIDATED BALANCE SHEETS
                           (In thousands)
                                           March 31,    December 31,
                                              2013          2012
Assets
Current Assets:
Cash and cash equivalents                 $    56,203   $    80,132
Accounts and notes receivable-trade, net      468,537       442,412
Inventories, net                              417,094       402,940
Prepaid expenses and other current assets     218,685       185,612
Total Current Assets                        1,160,519     1,111,096
Property, plant and equipment, net            608,850       614,705
Identifiable intangible assets, net           805,646       830,642
Goodwill, net                               2,167,241     2,210,953
Other noncurrent assets, net                  159,872       204,901
Total Assets                              $ 4,902,128   $ 4,972,297
Liabilities and Equity
Current liabilities                       $   826,165   $   927,780
Long-term debt                              1,207,722     1,222,035
Deferred income taxes                         226,100       232,641
Other noncurrent liabilities                  372,747       340,398
Total Liabilities                           2,632,734     2,722,854
Total DENTSPLY International Equity         2,233,502     2,208,698
Noncontrolling interests                       35,892        40,745
Total Equity                                2,269,394     2,249,443
Total Liabilities and Equity              $ 4,902,128   $ 4,972,297

                         DENTSPLY INTERNATIONAL INC.
                                (In thousands)
Supplemental Summary Cash Flow Information:
Three Months Ended March 31, 2013
                                                  Three Months Ended March 31,
                                                       2013           2012
Net Cash Provided by Operating Activities         $     36,086     $  19,953
Net Cash Used in Investing Activities             $    (72,723 )   $ (20,199 )
Net Cash Provided by (Used in) in Financing
Activities                                        $     13,603     $ (12,380 )
Depreciation                                      $     20,416     $  20,209
Amortization                                      $     11,934     $  15,360
Capital Expenditures                              $     24,032     $  18,642
Cash Dividends Paid                               $      7,909     $   7,847

                      DENTSPLY INTERNATIONAL INC.
                            (In thousands)
Operating Income Summary:
The following tables present the reconciliation of reported GAAP
operating income in total and on a percentage of net sales, excluding
precious metal content, to the non-GAAP financial measures.
Three Months Ended March 31,
2013
                                                             Percentage of Net
                                                             Sales, Excluding
                                                              Precious Metal
                                 Operating Income (Loss)          Content
Operating Income                $             93,858               14.0 %
Amortization of Purchased
Intangible Assets                             11,934                1.8 %
Acquisition-Related Activities                 2,137                0.4 %
Restructuring and Other Costs,
including Legal Settlements                      772                  -
Adjusted Non-GAAP Operating
Income                          $            108,701               16.2 %
Three Months Ended March 31,
2012
                                                             Percentage of Net
                                                             Sales, Excluding
                                                              Precious Metal
                                 Operating Income (Loss)          Content
Operating Income                $             87,160               13.1 %
Amortization of Purchased
Intangible Assets                             15,360                2.3 %
Acquisition-Related Activities                 7,535                1.1 %
Restructuring and Other Costs                  1,729                0.3 %
Orthodontic Business Continuity
Costs                                            616                0.1 %
Adjusted Non-GAAP Operating
Income                          $            112,400               16.9 %

                         DENTSPLY INTERNATIONAL INC.
                   (In thousands, except per share amounts)
Earnings Summary:
The following tables present the reconciliation of reported GAAP net income
attributable to DENTSPLY International and on a per share basis to the
non-GAAP financial measures.
Three Months Ended March 31,
2013
                                          Net                    Diluted
                                         Income                 Per Share
Net Income Attributable to
DENTSPLY International           $         71,685           $        0.49
Amortization of Purchased
Intangible Assets, Net of Tax               8,376                    0.06
Credit Risk and Fair Value
Adjustments to Outstanding
Derivatives, Net of Tax                     2,734                    0.02
Loss on Fair Value Adjustments
at an Unconsolidated Affiliated
Company, Net of Tax                         1,928                    0.01
Acquisition Related Activities,
Net of Tax                                  1,353                    0.01
Restructuring and Other Costs,
including Legal Settlements, Net
of Tax                                        539                       -
Income Tax-Related Adjustments            (11,388 )                 (0.08 )
Rounding                                        -                    0.01
Adjusted Non-GAAP Net Income
Attributable to DENTSPLY
International                    $         75,227           $        0.52
Three Months Ended March 31,
2012
                                          Net                    Diluted
                                         Income                 Per Share
Net Income Attributable to
DENTSPLY International           $         53,284           $        0.37
Amortization of Purchased
Intangible Assets, Net of Tax              10,982                    0.08
Acquisition Related Activities,
Net of Tax                                  4,797                    0.03
Loss on Fair Value Adjustments
at an Unconsolidated Affiliated
Company, Net of Tax                         4,655                    0.03
Restructuring and Other Costs,
Net of Tax                                  1,164                    0.01
Orthodontics Business Continuity
Costs, Net of Tax                             408                       -
Income Tax-Related Adjustments                (35 )                     -
Adjusted Non-GAAP Net Income
Attributable to DENTSPLY
International                    $         75,255           $        0.52

                      DENTSPLY INTERNATIONAL INC.
                             (In thousands)
Operating Tax Rate Summary:
The following tables present the reconciliation of reported GAAP
effective tax rate as a percentage of income before income taxes to the
non-GAAP financial measure.
Three Months Ended March
31, 2013
                                                Income Tax      Percentage of
                            Pre-tax Income   Benefit (Expense)  Pre-Tax Income
As Reported - GAAP
Operating Results           $      77,894    $      (3,542 )         4.5 %
Amortization of Purchased
Intangible Assets                  11,934           (3,558 )
Credit Risk and Fair Value
Adjustments to Outstanding
Derivatives, Net of Tax             4,452           (1,718 )
Acquisition-Related
Activities                          2,137             (784 )
Restructuring and Other
Costs, including Legal
Settlements                           772             (233 )
Loss on Fair Value
Adjustments at an
Unconsolidated Affiliated
Company                                33              (10 )
Income Tax-Related
Adjustments                             -          (11,388 )
As Adjusted - Non-GAAP
Operating Results           $      97,222    $     (21,233 )        21.8 %
Three Months Ended March
31, 2012
                                                Income Tax      Percentage of
                            Pre-tax Income   Benefit (Expense)  Pre-Tax Income
As Reported - GAAP
Operating Results           $      73,191    $     (14,715 )        20.1 %
Amortization of Purchased
Intangible Assets                  15,360           (4,378 )
Acquisition-Related
Activities                          7,535           (2,738 )
Restructuring and Other
Costs                               1,729             (565 )
Orthodontics Business
Continuity Costs, Net of
Tax                                   616             (208 )
Loss on Fair Value
Adjustments at an
Unconsolidated Affiliated
Company                               273              (83 )
Income Tax-Related
Adjustments                             -              (35 )
As Adjusted - Non-GAAP
Operating Results           $      98,704    $     (22,722 )        23.0 %

For further information contact:       

Derek Leckow
Vice President
Investor Relations
(717) 849-7863 

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