Animal health care provider VCA Antech (WOOF) - Get Petco Health and Wellness Company Inc Class A Report said its third-quarter earnings rose 21.1% from the year-ago period.
The L.A.-based company earned $27 million, or 32 cents a share, in the quarter, compared with $22.3 million, or 26 cents a share, a year ago. Analysts surveyed by Thomson First Call were expecting earnings of 30 cents a share in the most recent quarter.
Third-quarter revenue rose 9.8% from a year ago to $251.6 million vs. analysts' expectations of $255.1 million.
In a separate release, the company updated its full-year earnings and revenue guidance. The company now expects to earn $1.21 to $1.22 a share on revenue of $968 million to $975 million. Adjusted earnings are expected to be $1.13 to $1.14 a share. Analysts expect earnings of $1.15 a share, on revenue of $982.7 million for the full year.
Third-quarter gross profit rose 12.6% from a year ago to $70.5 million and gross profit margin increased 70 basis points to 28%. Operating income for the quarter rose 16.8% to $51.5 million and operating margin increased 120 basis points to 20.5%.
Revenue from laboratory segment increased 16.8% to $66.1 million and from the animal hospital segment it increased 9.4% to $183.6 million. However, revenue from the medical technology segment fell 15.5% to $9 million.
The company's shares were down $2.49, or 7.3%, to $31.50 in after-market activity Wednesday.
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