Question-and-Answer Session
Operator
(Operator Instructions). Your first question comes from Glen Santangelo - Credit Suisse.
Glen Santangelo - Credit Suisse
Revenues were clearly a little bit stronger than what we had been looking for, obviously led by CEREC and digital x-ray and I’m trying to get a sense for on the CEREC side, may be how much of that was kind of pent-up demand from the trade-in program maybe versus what might be sustainable growth, any kind of clarity you can provide there and may be how much in trade-in program?
James W. Wiltz
Well, there’s no question, Glen, of the sales, I don’t have the numbers here in front of me or what percentage of it was trade-in and how much of it was new market, but I think one thing all of you need to be aware of going forward that trade-in’s and replacement machines and so forth are a common place in that product nowadays with the number of installs we’ve got dating clear back to the original CEREC 2s; there’s always going to be some activity in trades-up and with current users; I do not have the numbers.
Glen Santangelo - Credit Suisse
Jim, what else I’m trying to do is basically on Sirona’s conference call, they sort of suggested a very weak US equipment market and hence they had less shipments to the US market and yet you guys are obviously reporting pretty strong sales in the US market this quarter; how do I reconcile those two statements, versus what they’re saying and you’re saying? Does it all come out of your inventory, where did your inventory levels stand, any sort of comments there?
James W. Wiltz
Our inventory levels are definitely down, so obviously that’s going to have some impact on Sirona, but I did not listen to their call, but the sales continued to be quite robust for both new users and for trade-ups to the new blue CAM.
Glen Santangelo - Credit Suisse
My last question, seems like you have some pretty decent revenue momentum yet you just kind of maintaining the guidance, any sort of preliminary comments on July, did we continue to see more of that momentum in July or was it a little worse than you thought?
James W. Wiltz
We’ll talk about that at the end of the next quarter, Glen.
R. Stephen Armstrong
I didn’t see things much differently in July than we did in the first quarter.
- To read the full transcript on Seeking Alpha, click here »
