Patterson Outlook Comes Up Short Of Estimates

ST. PAUL, Minn. (AP) — Dental and veterinary products supplier Patterson Cos. on Thursday forecast a profit below Wall Street expectations, saying economic weakness will continue to hurt its business.

The company called for a profit of $1.70 to $1.80 per share for the 12-month period, which ends in April 2010. According to Thomson Reuters, analysts were expecting $1.85 per share.

"We believe that weakness in the general economy will continue to affect our performance for at least several more quarters," said President and Chief Executive James Wiltz.

Patterson reported a profit of $1.69 per share each of the last two fiscal years. The company also posted its fourth-quarter results Thursday, and its profit and revenue both fell short of analyst estimates.

In morning trading, shares lost $2.11, or 9.4 percent, to $20.46.