Fox Business
Expand
Browse All Video
Watch Live

You're watching...

Henry Schein CEO: We Will Do Well in 2013

Details

  • Description

    Henry Schein CEO Stanley Bergman on the company’s fourth-quarter results and outlook.

  • Duration 5:13
  • Date

Clips

Also in this playlist...

Latest Business Leaders

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

How many quarters general Stan records who who I know there was a break in between but at this listen my next CEO.

Quarter after quarter after quarter of record profits now today the stock is falling back a little bit it's Henry Schein.

It's flowing back after the medical and dental equipment maker what have you done for me lately everybody came -- -- better than expected Q4 numbers beating on both sales and earnings but.

The stock is still trading near record highs so how much good news is already baked into the cake and how much does that frustrate you when I say -- standard joining me now Fox Business -- December -- He's Henry -- chairman and CEO took the company public several years ago and now it's eight billion dollars in market eight point seven billion market cap.

78 whatever you've done very well for yourself -- department -- for the team.

This time shareholders -- you always give credit to -- -- -- team but just it just to clarify for people.

How -- come in with record numbers this time around when there is still uncertainty out there and doctors and veterinarians and dentists whom you supply with all kinds of products.

Aren't so sure whether people are gonna cancel appointments because they might not -- the money.

Well and you -- the markets we serve are relatively healthy.

Bottom line is we as the public.

We want to take care of our own health we want to prevent.

Diseases we want to take care of wellness.

Is a shift from the hospital to the doctor's office.

We more activities taking place we as the public say to ourselves we want to make sure that we well.

We have the capacity do that did the -- baby boomers are a generation that is educated to understand very well the prevention is important.

We have the financial capacity to do it and that is driving visits to doctors' offices -- offices and even spending money on pets.

Everything from drills to wipes to have that things like can't sanitize or two of course syringes and this is all what you supply -- these companies.

Let's go -- -- and what happened in Europe -- you've been exposed there you also have made some acquisitions there.

Yet it's a bit of a slow -- Yeah I mean you Europe is definitely slow and -- lost three years ago the US has picked up a bit so on balance the portfolio -- in -- quite solidly in place today.

Having said that they're awesome challenges in Europe.

And we.

Or working goes through but -- businesses is solid in Germany France the UK some real challenges and it's -- Going forward you know argue -- change.

You're hedging strategy and I say this because people were asking questions about this and -- -- talking analyst -- -- what are they going to do about the strategy when it comes to things like.

That -- the the tax on medical devices.

You bottle -- they -- stock analysis is Smart business she stockpiled at the end of the year before the tax kicked into gear and then now you're passing on the cost to customers is that -- will work well.

We don't pass the cost onto the customers who say the manufacturers.

Those that want -- absorb the tax absorbing the tax.

Those that wanna pass an arm must be passing -- on that we get a price from the custom from the -- affection and if mr.

price goes up 5% we pass them -- Two well.

Customers.

Wonderful -- so -- just basically looked at it and said hey we're buying a lot now who knows what might happen what we realize that the price was gonna go up.

And -- boating and specifically of what which devices and well mostly capital equipment but B.

It's it's very very small I think -- -- -- -- we mentioned about a hundred and some fifty million dollars but with the inventory that we quiet early.

But.

That's nothing -- Nine billion so its sales you have solid numbers this time around it must -- and continue with stock -- why don't have upped their guidance why didn't you guys say you know we we are so confident we're -- up has just been reading all the -- supports growth we don't we don't sit around -- are right that's ahead in the bottom line is.

The.

We don't know exactly with the economy is -- -- quite confident in the business.

Business is solid.

And I'm sure that we will do well in 2013.

Minutes we've done every what -- but I think we wanted to.

We wanna sit the -- yet it reasonably solid.

Conservative liberal -- just don't know at this point we don't know what speed bumps we gonna have along the way.

One of the best acquisitions.

You ever made was the big pet business.

Are you now adding on little satellite pet businesses to that that's how much people care about their -- exactly I mentioned early on.

The baby -- is -- money on the -- so it's a great business resurface the office space for victory practitioner.

Couldn't coupon now he's focused on companion animals we've made about dogs cats dogs and even bits and so what's happened is that.

The businesses -- and geographically both internally and through acquisitions at this point in time we're adding more products into the offering.

To advance the sales of products in all the geographies that.

We know -- in.

Well I I have my cat in a New Jersey animal hospital and they were giving it transfusions and all kinds -- -- I mean it was it was high tech we should take you -- fool.

Regular dental can.

The next one I will this one didn't -- -- can't stand thank you so much thanks let's just say if this is Dan -- Henry -- chairman and CEO coming in once again with a record numbers stock is down but near.

52 week highs we've.

Load More