Patterson Cos. (PDCO) Tops Q3 EPS by 1c

Patterson Cos. (NASDAQ: PDCO) reported Q3 EPS of $0.58, $0.01 better than the analyst estimate of $0.57. Revenue for the quarter came in at $1.4 billion versus the consensus estimate of $1.43 billion.

Fiscal 2017 GuidanceWith one quarter remaining in fiscal 2017, Patterson today narrowed its fiscal 2017 earnings guidance from continuing operations, which is provided on both a GAAP and non-GAAP adjusted1 basis:

• GAAP earnings are now expected to be in the range of $1.71 to $1.77 per diluted share.
• Non-GAAP adjusted earnings1 are now expected to be in the range of $2.27 to $2.33 per diluted share.
• Our non-GAAP adjusted earnings1 guidance excludes the after-tax impact of:
  • Deal amortization expense of approximately $27 million ($0.28 per diluted share)
  • Non-cash impairment charges of approximately $23 million ($0.24 per diluted share)
  • Integration and business restructuring expenses of approximately $5 million ($0.05 per diluted share)
  • Transaction-related costs of approximately $2 million ($0.02 per diluted share)
  • Benefit from cash repatriation tax adjustment of approximately $2 million ($0.03 per diluted share)

For earnings history and earnings-related data on Patterson Cos. (PDCO) click here.

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