DOW JONES NEWSWIRES
Patterson Cos.' (PDCO) fiscal second-quarter earnings rose 8.1%
as revenue increased.
"We are encouraged by Patterson's solid second-quarter results,
which were attained amid the context of sluggish economic
conditions that continued to affect our served markets," said
President and Chief Executive Scott P. Anderson.
The wholesaler of dental, veterinary and other products has seen
especially strong sales in its dental business and has said it
expects continued growth in the segment. Revenue at the
dental-supply business climbed 4.8% in the most recent quarter from
a year earlier.
For the quarter ended Oct. 30, Patterson posted a profit of
$53.4 million, or 45 cents a share, up from $49.3 million, or 41
cents a share, a year ago. Revenue increased 5.2% to $857.4
million.
Analysts polled by Thomson Reuters had expected earnings of 45
cents a share with revenue of $846 million.
Gross margin fell to 32.6% from 32.7%.
Sales of consumable and printed products--Patterson's biggest
top-line contributor--increased 1.6%, while equipment and software
revenue grew 16%.
Shares of Patterson, which reiterated its view for the year,
closed at $29.06 Monday and were inactive premarket.
-By Yogita Patel and Nathan Becker, Dow Jones Newswires;
212-416-2262; yogita.patel@dowjones.com