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Patterson Not Issuing FY21 Outlook Amid COVID-19 - Quick Facts

While reporting financial results for the fourth quarter on Wednesday, Patterson Cos., Inc. (PDCO) said it is not issuing earnings guidance for the full-year 2021 at this time, due to the ongoing disruption of North American and international market conditions and the inability to accurately predict the economic effects of COVID-19 and related government action.

For the same reasons, the company withdrew its financial guidance for the full year 2020, which was initiated on February 27, 2020, in early April.

The company said the strategies it executed during fiscal 2020 produced accelerating performance through the first 11 months, enabling it to exceed goals for the year despite the impact of COVID-19, resulting in full fiscal 2020 adjusted earnings growth of 10.7 percent.

Beginning in late-March, COVID-19 considerably disrupted its end markets, impacting performance for the balance of the year and into the first quarter.

The company noted that the challenges related to COVID-19 are continuing into fiscal 2021, but it is confident in the long-term fundamentals of its end markets.

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