Patterson Cos.: Fiscal 1Q Earnings Snapshot

Associated Press
Updated

ST PAUL, Minn. (AP) _ Patterson Cos. (PDCO) on Thursday reported fiscal first-quarter net income of $30 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the St Paul, Minnesota-based company said it had net income of 32 cents. Earnings, adjusted for one-time gains and costs, came to 27 cents per share.

The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.

The medical supplies maker posted revenue of $1.33 billion in the period, which fell short of Street forecasts. Six analysts surveyed by Zacks expected $1.37 billion.

Patterson Cos. expects full-year earnings in the range of $1.33 to $1.43 per share.

Patterson Cos. shares have declined 17% since the beginning of the year, while the Standard & Poor's 500 index has climbed 15%. The stock has declined 31% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PDCO at https://www.zacks.com/ap/PDCO