Animal Health International Narrows Loss (AHII)

Animal Health International, Inc. AHII released financial results on Monday morning. Animal Health International, Inc reported that its 1st quarter net loss narrowed to $0.5 million, or 2 cents per share, from a loss of $0.7 million or 3 cents per share, a year earlier. Excluding special items, the company's earnings came in at $3.2 million. The company reported that its net sales rose 9.4% to $176.5 million, up from $161.3 million a year earlier. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 7 cents per share, on revenue of $172.06 million. Chairman and chief executive officer Jim Robison said, "We are encouraged by our sales growth and believe margins will strengthen during the year. Our confidence led us to hire 25 new sales and management employees during the quarter. We are on track with our facility expansion initiative and are pleased with the outcome of our refinancing. While the first quarter represents a slow start in earnings, we believe sales and earnings growth should be strong for the remainder of the year." Animal Health International, Inc. (AHII) closed the previous trading day at $2.66 per share. Analysts covering the company's stock give it a consensus price target of $3.25 per share. Read more from Benzinga's Company news.