Patterson Companies Lowers Fy EPS Guidance to $1.86 to $1.88

Patterson Companies, Inc. PDCO today said it is forecasting sales of approximately $825.0 million for the third quarter of fiscal 2011 ended January 29, compared to $820.1 million in the year-earlier quarter. Earnings in this year's third quarter are forecasted in the range of $0.46 to $0.47 per diluted share, essentially unchanged from $0.47 in the third quarter of fiscal 2010. The Company said its third quarter consumable revenues grew 3%, while sales of technology offerings in the dental equipment category were much softer than expected. This softness extended to CAD/CAM dental restorative systems and digital radiography products. Reflecting its estimated third quarter results and outlook for the fourth quarter, Patterson revised its full-year guidance to $1.86 to $1.88 per diluted share from the previously-issued guidance of $1.89 to $1.99.