Investing.com – Straumann (SIX:) reported organic sales rose 15.1% in the first quarter, beating analysts’ expectations, but shares of the dental implant maker fell after the company noted softening operating performance in the United States.
The Swiss firm, which specializes in the research, development and production of tooth replacement technologies and other orthodontic solutions, said revenue for the three-month period rose to 643.8 million Swiss francs.
Strong momentum in China contributed to sharp revenue growth in the Asia-Pacific region. Organic growth of 82% in the region was much better than the consensus estimate of 51.3%, Stifel analysts said.
“The implant business was the main driver, with both premium and higher-end brands (challengers) strong,” they added.
However, sales slowed to 3.7% in North America excluding currency effects and acquisitions, compared with 7.2% in the corresponding period in 2023 – a trend that Straumann said is due to a weaker dental implant market in USA.
Shares fell more than 11% in European trading on Tuesday.