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Patterson Issues FY19 Guidance - Quick Facts

Patterson Companies, Inc. (PDCO) announced, for fiscal 2019, the company estimates non-GAAP adjusted earnings from continuing operations to be in the range of $1.73 to $1.83 per share. GAAP earnings from continuing operations are expected to be in the range of $1.43 to $1.53 per share.

Fourth-quarter adjusted earnings per share from continuing operations totaled $0.30, compared to $0.69 in the prior fiscal year fourth quarter. Patterson Companies reported consolidated net sales of approximately $1.4 billion in its fiscal fourth quarter, a decline of 3.1 percent compared to the same period last year. Internal sales, which adjust for the effects of currency translation and changes in product selling relationships, declined 3.3 percent.

"Our fourth-quarter results met our revised expectations and reflected the impact of ongoing challenges that the Company has been facing. Looking ahead, we are executing on a number of initiatives to stabilize the core business and build a stronger platform for fiscal 2019, and expect to return to profit growth in the second half of the year. These initiatives are focused on improving our revenue, margin and cash flow performance and unlocking the strength of our value proposition," said Mark Walchirk, CEO of Patterson Companies.

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