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Patterson 4Q net income rises 15 percent

Thu, 05/20/2010 - 5:10am
The Associated Press

Dental and veterinary products supplier Patterson Cos. said Thursday its net income grew 15 percent in its fiscal fourth quarter on better sales at its dental, rehabilitation supply, veterinary supply businesses.

Patterson earned $61.8 million, or 52 cents per share, up from $54 million, or 46 cents per share, in the same period a year earlier. Revenue rose 8 percent to $812.8 million from $779.9 million in the quarter ended April 24.

Analysts polled by Thomson Reuters expected net income of 50 cents per share and $815 million in revenue.

The company said sales by its rehabilitation supply and equipment business, rose 18 percent to $103.5 million while sales at its dental supply unit rose 3 percent to $547.3 million. Sales at its veterinary supply unit rose 2 percent to $162 million.

For the full year, the company earned $212.3 million, or $1.78 per share, up from $199.6 million, or $1.69 per share, in fiscal 2009. Revenue rose to $3.24 billion from $3.09 billion.

Looking ahead, the company expects net income per share in fiscal 2011 between $1.89 and $1.99. Analysts expect $1.94 in net income per share.

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