Patterson Companies Q4 Profit Tops Estimates; Sales Up 6.7% In Constant Currency

(RTTNews) - Patterson Companies, Inc. (PDCO) reported fourth-quarter net income of $64.5 million, or $0.65 per share, compared to $55.7 million, or $0.55 per share, last year. After adjusting for one-time transaction costs related to the pending acquisition of Animal Health International and the potential sale of Patterson Medical, fourth quarter earnings per share were $0.68.

On average, 13 analysts polled by Thomson Reuters expected the company to report profit per share of $0.65 for the quarter. Analysts' estimates typically exclude special items.

Consolidated sales totaled $1.15 billion; 4.2 percent higher than a year ago. Analysts expected revenue of $1.13 billion for the quarter.

The company established its adjusted fiscal 2016 earnings guidance in the range of $2.40-$2.50 per share. Analysts expect the company to report fiscal 2016 earnings per share of $2.44.