Shares of dental and animal health products distributor Patterson Companies, Inc. (PDCO) are down more than 6% Thursday morning at $26.06, after reporting lower profit in the first quarter, hurt primarily by decrease in revenue.
Net income attributable to Patterson Companies, Inc. for the first quarter was $24.59 million, or $0.25 per share, compared with $34.0 million, or $0.35 per share last year.
Excluding one-time items, earnings were $31.7 million or $0.32 per share.
Sales for the quarter declined 5.7% year-over-year to $1.523 billion.
Looking forward to the full year, the company sees adjusted EPS in the range of $2.25 to $2.35. Last year, the company reported adjusted EPS of $1.91.
PDCO has traded in the range of $26.01-$35.29 in the last 1 year.
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