Patterson Profit Dips On Lower Office Supply Sales

ST. PAUL, Minn. (AP) — Patterson Cos. said Thursday that dentists kept buying crown-making systems in the fiscal first quarter, but cut back on buying items like chairs and lights.

The dental and veterinary supply company said its profit for the period ended July 25 fell 2 percent, to $45.1 million, or 38 cents per share, from $46 million, or 39 cents per share, a year ago. Revenue increased 6 percent, to $789.6 million from $743.9 million, helped by greater revenue from the Webster veterinary unit.

According to Thomson Reuters, analysts expected a profit of 37 cents per share and $755.3 million in revenue.

Revenue from the dental supply business slid 2 percent, to $511 million from $519.9 million. The company reported slightly lower sales of consumable supplies and printed office products, and said sales of dental equipment and software fell 2 percent due to lower sales of basic equipment like chairs and lights.

However sales of Patterson's CEREC dental restorative system rose 84 percent, and revenue from related software grew 16 percent. The CEREC system is intended to allow dentists to perform crown procedures in a single office appointment. Service and products revenue rose 1 percent.