Animal healthcare provider
said its first-quarter earnings rose 71.9% from the year-ago period.
The L.A.-based company earned $29.66 million, or 35 cents a share, in the quarter, compared with $17.25 million, or 21 cents a share, a year ago. Adjusted for items, earnings were 27 cents a share. Analysts surveyed by Thomson First Call were expecting earnings of 24 cents a share in the most recent quarter.
First-quarter revenue jumped 25.3% from a year-ago period to $234.18 million as against analysts' expectation of $221.08 million.
The company expects adjusted earnings of $1.06 to $1.09 a share in the full year, on revenue of $956 million to $972 million, as against analysts' expectation of $1.06 a share, on revenue of $954.58 million for the full year.
First-quarter gross profit rose 25.7% from a year-ago period to $63.52 million and gross profit margin increased 8 basis points to 27.1%.
Revenue from laboratory segment increased 15.2% to $61.54 million. From animal hospital segment revenue increased 27.9% to $170.52 million and from medical technology segment it increased to $7.99 million from $4.48 million a year ago period.
The stock surged $2.82 to $29.76.
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