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UPDATE 1-VCA Antech Q3 profit below view; cuts FY EPS outlook
October 21, 2010 / 9:19 PM / 7 years ago

UPDATE 1-VCA Antech Q3 profit below view; cuts FY EPS outlook

* Q3 adj EPS $0.37 vs est $0.40

* Q3 rev up 6 pct at $358.7 mln

* Cuts 2010 EPS to $1.38-$1.40 from $1.43-$1.53

Oct 21 (Reuters) - Animal healthcare company VCA Antech Inc WOOF.O posted a lower-than-expected quarterly profit, hurt by lower laboratory revenue, and cut its full-year profit view.

For the July-September quarter, the company earned $27.4 million, or 32 cents a share, compared with $36.3 million, or 42 cents a share in the year-ago quarter.

Excluding items, the company earned 37 cents a share.

Revenue for the quarter rose 6 percent to $358.7 million.

Analysts on average were expecting the company to earn 40 cents a share, on revenue of $357.9 million, according to Thomson Reuters I/B/E/S.

For the full year, the company cut its profit forecast to $1.38-$1.40 a share from $1.43-$1.53 a share.

Animal hospital revenue increased 7.5 percent to $276.7 million, helped by acquisitions made in the past one year, while laboratory revenue decreased 0.8 percent to $77.3 million hurt by a decline in the number of requisitions.

Medical Technology revenue in the third quarter increased 30.7 percent to $17.4 million in the quarter, the company said.

The company’s shares which have fallen 4 percent since the company reported results in July, closed at $22.07 Thursday on Nasdaq. They touched a high of $22.31 in the day. (Reporting by Rajarshi Basu in Bangalore; Editing by Vyas Mohan)

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