Patterson Companies Inc. (NASDAQ:PDCO) delivered a profit and met Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Patterson Companies Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 6.9% to $0.62 in the quarter versus EPS of $0.58 in the year-earlier quarter.
Revenue: Rose 3.05% to $964.9 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Patterson Companies Inc. reported adjusted EPS income of $0.62 per share. By that measure, the company met the mean analyst estimate of $0.62. It missed the average revenue estimate of $969.44 million.
Quoting Management: Scott P. Anderson, chairman and chief executive officer, commented: “We are encouraged by Patterson Dental’s fourth-quarter performance and believe it provides momentum as we enter fiscal 2014. Fourth quarter performance was led by strong double-digit growth in our equipment lines, even against strong comparables from the prior-year period. We believe there are growth opportunities from all our equipment offerings, including technology, as dentistry migrates to a digital platform. Coupled with Patterson’s industry-leading after-sales support offerings, we provide a compelling value proposition for our customers. Through the Patterson Technology Center, training programs and other value-added services, we enhance the customer experience and become a critical component of the dentist’s practice.”
Key Stats (on next page)…
Revenue increased 5.35% from $915.86 million in the previous quarter. EPS increased 19.23% from $0.52 in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.51 and has not changed. For the current year, the average estimate is a profit of $2.03, which is the same with that ninety days ago.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)