YORK, Pa., March 26, 2008 (PRIME NEWSWIRE) -- DENTSPLY International Inc. (Nasdaq:XRAY) today announced that its Board of Directors has increased the Company's authorization to repurchase shares under its stock repurchase program. Under this program, the Company may repurchase shares of Company stock on the open market or in negotiated transactions in an amount to maintain up to seventeen million shares in Treasury, an increase in the repurchase authorization of three million shares. The Company has repurchased just over two million shares thus far in 2008 and currently has approximately fourteen million shares of Treasury stock, completing its prior authorization level. The Company has approximately one hundred and forty-nine million shares of common stock outstanding.
Mr. Wise, Chairman, Chief Executive Officer & President, stated, "The increase in the authorization today reflects our continued confidence in the business and its ability to generate strong cash flow.
DENTSPLY designs, develops, manufactures and markets a broad range of products for the dental market. The Company believes that it is the world's leading manufacturer and distributor of dental prosthetics, precious metal dental alloys, dental ceramics, endodontic instruments and materials, prophylaxis paste, dental sealants, ultrasonic scalers, and crown and bridge materials; the leading United States manufacturer and distributor of dental handpieces, dental x-ray film holders, film mounts and bone substitute/grafting materials; and a leading worldwide manufacturer or distributor of dental implants, impression materials, orthodontic appliances, dental cutting instruments, infection control products, and dental injectable anesthetics. The Company distributes its dental products in over 120 countries under some of the most well-established brand names in the industry.
DENTSPLY is committed to the development of innovative, high quality, cost-effective new products for the dental market.
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