Shares of Sybron Dental Specialties Inc., a Newport Beach-based maker of dental products, were off about 6% on Tuesday after the company missed Wall Street estimates because of stock compensation expenses and other charges.
Sybron reported earnings of $14.5 million in the December quarter, down 3.4% from a year earlier. Sales were up 6% to $158 million.
The company said profits were affected by a $2.1 million charge related to acquisitions and unfavorable currency exchange rates that cut profits by $2.8 million.
Sybron also said that the quarter included $1.2 million in stock compensation charges.
Wall Street expected Sybron to earn $17.4 million on sales of $163.2 million in the quarter.
Excluding such charges, Sybron’s first-quarter profit was $15.8 million.
For the current quarter, Sybron said it could earn $17.4 million to $19.4 million on sales of $175 million to $180 million, in line with expectations.
