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Patterson Cuts FY Profit View; Stock Down

Patterson Companies Inc. (PDCO) said that it now expects GAAP earnings for fiscal year 2019 to be in the range of $0.84 to $0.94 per share, and non-GAAP adjusted earnings of $1.40 to $1.50 per share. Analysts polled by Thomson Reuters expect the company to report earnings of $1.71 per share for fiscal year 2019. Analysts' estimates typically exclude special items.

The company said in June 2018 that it expected annual GAAP earnings from continuing operations to be in the range of $1.43 to $1.53 per share, and non-GAAP adjusted earnings from continuing operations of $1.73 to $1.83 per share.

In Thursday pre-market trade, PDCO is trading at $20.85, down $2.88 or 12.14%.

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