Patterson Companies Inc. Q2 Profit Decreases, but beats estimates

(RTTNews) - Patterson Companies Inc. (PDCO) reported earnings for second quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $48.33 million, or $0.49 per share. This compares with $54.06 million, or $0.56 per share, in last year's second quarter.

Excluding items, Patterson Companies Inc. reported adjusted earnings of $57.07 million or $0.58 per share for the period.

Analysts on average had expected the company to earn $0.50 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 6.5% to $1.65 billion from $1.55 billion last year.

Patterson Companies Inc. earnings at a glance:

-Earnings (Q2): $48.33 Mln. vs. $54.06 Mln. last year. -EPS (Q2): $0.49 vs. $0.56 last year. -Analyst Estimates: $0.50 -Revenue (Q2): $1.65 Bln vs. $1.55 Bln last year.

-Guidance: Full year EPS guidance: $2.00 to $2.10