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Straumann raises FY outlook after strongest quarter in 9 years
October 26, 2017 / 5:19 AM / 23 days ago

Straumann raises FY outlook after strongest quarter in 9 years

Oct 26 (Reuters) - Dental implant maker Straumann raised its full-year revenue target after reporting its strongest quarterly growth in nine years, boosted by North America and Asia-Pacific regions as well as success in penetrating the non-premium segment.

The company, which provides tooth replacement and orthodontic solutions, said it now expects full-year revenue to grow between 13 and 15 percent, above its previous forecast for a low-double-digit growth.

Third-quarter revenues rose 15.9 percent organically to 257.9 million Swiss francs ($261 million), boosted by 28 percent growth in the Asia-Pacific region and 17 percent growth in North America.

Analysts on average had expected revenues of 249 million Swiss francs.

“Looking ahead, we expect additional growth to come from key products that gained regulatory approvals in China, Brazil, Russia and India in Q3, as well as our newest subsidiaries in emerging markets,” Chief Executive Marco Gadola said in a statement. ($1 = 0.9925 Swiss francs) (Reporting by Daria Kowalewska and Sylwia Lasek in Gdynia; Editing by Biju Dwarakanath)

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