Patterson Companies Q4 Profit Down, Misses View - Quick Facts

(RTTNews) - Patterson Companies, Inc. (PDCO) reported fourth-quarter net income of $55.6 million or $0.55 per share compared with $63.6 million or $0.62 per share in the year-ago period.

Excluding costs related to the medical unit restructuring, net income totaled $61.4 million or $0.61 per share. On average, 15 analysts polled by Thomson Reuters expected the company to report profit per share of $0.66 for the quarter. Analysts' estimates typically exclude special items.

However, consolidated sales rose 14.2 percent to $1.1 billion from $964.9 million in the year-earlier period. Analysts expected revenue of $1.13 billion for the quarter.

The company's fourth quarter results included $156.0 million of consolidated sales and an earnings contribution of $0.01 per share from the acquisition of NVS.

Commenting on the results, Scott Anderson, chairman and chief executive officer said: "We were challenged by a tough macro environment in the fiscal fourth quarter....The impact of the severe winter weather and currency fluctuations combined to constrain our performance".

Looking ahead, for the full year 2015, the firm expects earnings in the range of $2.20 - $2.30 per share. Analysts project full-year earnings of $2.38 per share.