ST PAUL, Minn. (AP) _ Patterson Cos. (PDCO) on Thursday reported a fiscal first-quarter loss of $4.5 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the St Paul, Minnesota-based company said it had a loss of 5 cents. Earnings, adjusted for non-recurring costs and amortization costs, were 26 cents per share.
The results did not meet Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 35 cents per share.
The medical supplies maker posted revenue of $1.34 billion in the period, which topped Street forecasts. Nine analysts surveyed by Zacks expected $1.31 billion.
Patterson Cos. expects full-year earnings in the range of $1.40 to $1.50 per share.
Patterson Cos. shares have fallen 34 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 9 percent. The stock has decreased 37 percent in the last 12 months.