Patterson Companies Inc. Q1 Profit Decreases, Misses Estimates

(RTTNews) - Patterson Companies Inc. (PDCO) revealed a profit for first quarter that decreased from the same period last year and missed the Street estimates.

The company's earnings came in at $13.72 million, or $0.15 per share. This compares with $31.23 million, or $0.32 per share, in last year's first quarter.

Excluding items, Patterson Companies Inc. reported adjusted earnings of $21.05 million or $0.24 per share for the period.

Analysts on average had expected the company to earn $0.32 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 2.2% to $1.542 billion from $1.577 billion last year.

Patterson Companies Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $13.72 Mln. vs. $31.23 Mln. last year. -EPS (Q1): $0.15 vs. $0.32 last year. -Revenue (Q1): $1.542 Bln vs. $1.577 Bln last year.

-Guidance: Full year EPS guidance: $2.33 - $2.43