mikeon88
管理員
 
UID 1
精華
0
積分 0
帖子 15453
閱讀權限 255
註冊 2007-1-14 用戶註冊天數 6312
用戶失蹤天數 5
118.169.167.90 |
|
|
Patterson Cuts Earnings Guidance, Warns of Pricing Pressure
[url=] [/url]Font size: A | [url=]A[/url] | [url=]A[/url]
7:39 AM ET 8/30/18 | Dow Jones
| RELATED QUOTES | | |  | | 4:00 PM ET 8/29/18 | | Symbol | Last | % Chg | PDCO
| 23.73 | 0.00% | | Quotes delayed at least 15 minutes | | |
By Bowdeya Tweh
Shares in Patterson Cos. fell 12% in premarket trading after the dental and animal-health products supplier fell short of earnings estimates in its latest period and guided pressure on pricing in the quarters ahead.
The St. Paul, Minn., company reported a first-quarter loss of $4.5 million, or 5 cents a share, on $1.34 billion in revenue. On an adjusted basis, Patterson earned 26 cents a share. Analysts polled by Thomson Reuters had expected adjusted earnings of 34 cents a share on $1.3 billion in revenue.
Patterson also cut its full-year per-share earnings targets to between 84 cents and 94 cents, or between $1.40 and $1.50 on an adjusted basis. It had previously guided a per-share profit between $1.43 and $1.53, or between $1.73 and $1.83 on an adjusted basis.
"While our ongoing initiatives to improve the customer experience and enhance sales execution helped drive improved top line performance, these results were offset by competitive pricing pressures which negatively impacted our margins," Chief Executive Mark Walchirk said.
The company also established a pretax reserve of $28.3 million in connection with an expected settlement of an antitrust lawsuit, in which Patterson and other companies are accused of fixing prices on dental equipment.
Write to Bowdeya Tweh at bowdeya.tweh@wsj.com
> Dow Jones Newswires
August 30, 2018 07:39 ET (11:39 GMT)
|
|
|
