Patterson Companies Down On Lower Profit, Revenue

(RTTNews) - Shares of dental and animal health products distributor Patterson Companies, Inc. (PDCO) are down more than 6% Thursday morning at $26.06, after reporting lower profit in the first quarter, hurt primarily by decrease in revenue.

Net income attributable to Patterson Companies, Inc. for the first quarter was $24.59 million, or $0.25 per share, compared with $34.0 million, or $0.35 per share last year.

Excluding one-time items, earnings were $31.7 million or $0.32 per share.

Sales for the quarter declined 5.7% year-over-year to $1.523 billion.

Looking forward to the full year, the company sees adjusted EPS in the range of $2.25 to $2.35. Last year, the company reported adjusted EPS of $1.91.

PDCO has traded in the range of $26.01-$35.29 in the last 1 year.