Patterson Cos 2Q Profit Climbs 8.1% On Higher Revenue

   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; [e-mail]