Press Release Details

MELVILLE, N.Y.--(BUSINESS WIRE)--Nov. 28, 2005--Henry Schein, Inc. (Nasdaq: HSIC), the largest provider of healthcare products and services to office-based practitioners in the combined North American and European markets, today provided guidance for 2006 financial performance from continuing operations, as follows:

• 2006 diluted EPS is expected to be $2.20 to $2.26, excluding the impact of expensing stock options per Financial Accounting Standards No. 123(R).
• The Company estimates the impact of expensing stock options to be $0.12 per diluted share, resulting in expected 2006 diluted EPS of $2.08 to $2.14.
• The Company affirms annual 2005 guidance of $1.77 to $1.83 earnings per diluted share, which includes $0.02 to $0.06 from sales of Fluvirin(R) influenza vaccine. This represents a growth rate of 18% to 22% compared with 2004, excluding a $0.10 one-time charge in 2004 related to Henry Schein's contract with Chiron Corporation (Nasdaq: CHIR) for Fluviron.
• The 2006 guidance of $2.08 to $2.14 earnings per diluted share represents 26% growth compared with the 2005 EPS guidance also restated to include a $0.12 impact of expensing stock options. This growth is calculated by comparing the midpoint of the 2006 diluted EPS guidance range with the midpoint of the current 2005 guidance range restated to include the impact of expensing stock options.
• Diluted EPS growth is expected to be in the low double digits percentage range for the first half of 2006, and then to accelerate for the second half due to the seasonality impact of influenza vaccine sales and other factors.
• This 2006 diluted EPS guidance includes Henry Schein's expectations that it will distribute an increased amount of influenza vaccine to approximately 15 million doses during 2006, including product manufactured by ID Biomedical Corporation (TSX: IDB; Nasdaq: IDBE), Chiron Corporation, and possibly others.

"Our 2006 diluted EPS guidance is in line with our long-term corporate goals of high-single digit internal sales growth and 30-50 basis points of operating margin expansion," commented Stanley M. Bergman, Chairman and Chief Executive Officer of Henry Schein. "Of course, sales growth and margin expansion for 2006 will be enhanced by the expected increase in influenza vaccine sales compared with 2005. This translates into 26% growth in diluted earnings per share compared with 2005."

Henry Schein notes that all 2006 and 2005 guidance is for current continuing operations including completed acquisitions, and does not include the impact of potential future acquisitions.

About Henry Schein

Henry Schein, a Fortune 500(R) company, is recognized for its excellent customer service and highly competitive prices. The Company's four business groups - Dental, Medical, International and Technology - serve more than 475,000 customers worldwide, including dental practices and laboratories, physician practices and veterinary clinics, as well as government and other institutions. The Company's sales from continuing operations reached a record $3.9 billion in 2004. The Company operates through a centralized and automated distribution network, which provides customers in more than 125 countries with a comprehensive selection of over 160,000 national and Henry Schein private-brand products.

Henry Schein also offers a wide range of innovative value-added practice solutions for healthcare professionals, such as ArubA(R), the Company's electronic catalog and ordering system. Our leading practice-management software solutions have been installed in more than 50,000 practices -- DENTRIX(R) and Easy Dental(R) for dental practices, and AVImark(R) for veterinary clinics.

Headquartered in Melville, N.Y., Henry Schein employs nearly 11,000 people and has operations in 19 countries. For more information, visit the Henry Schein Web site at www.henryschein.com.

In accordance with the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995, the Company provides the following cautionary remarks regarding important factors which, among others, could cause future results to differ materially from the forward-looking statements, expectations and assumptions expressed or implied herein. All forward-looking statements made by us are subject to risks and uncertainties and are not guarantees of future performance. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance and achievements, or industry results to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These statements are identified by the use of such terms as "may," "could," "expect," "intend," "believe," "plan," "estimate," "forecast," "project," "anticipate" or other comparable terms. A full discussion of the Company's operations and financial condition, including factors that may affect its business and future prospects, is contained in documents the Company has filed with the SEC and will be contained in all subsequent periodic filings made with the SEC. These documents identify in detail important risk factors that could cause the Company's actual performance to differ materially from current expectations.

CONTACT: Henry Schein, Inc.
Steven Paladino, 631-843-5500
steven.paladino@henryschein.com
or
Susan Vassallo, 631-843-5562
susan.vassallo@henryschein.com

SOURCE: Henry Schein, Inc.