Sybron Dental to PostCharges of $8.4 Million
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Orange-based Sybron Dental Specialties Inc. said Tuesday that it expects to post charges totaling $8.4 million in the third quarter related to rate swaps, finance fees and refinancing.
It also said in a press release that plans for expanding its Hawe Neos facility in Switzerland, a key component of the company’s tax-reduction strategy, is a “little” behind schedule.
Sybron said it expects to record an unspecified fourth-quarter restructuring charge related to the Hawe’s plan, which includes the consolidation of Sybron’s other facilities in Europe.
Also Tuesday, Sybron said it will change the way it accounts for inventory in the third quarter. The maker of dental products will restate its financial results for the last five years and interim periods to reflect the inventory accounting change to first in, first out, from last in, first out.
Sybron stock closed at $21.40 Tuesday, down 33 cents, on the New York Stock Exchange.
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