MWI Veterinary Supply, Inc. (MWIV) Monday reported an increase in profit for the first quarter, helped mainly by a double-digit revenue growth.
Net income for the quarter increased to $16.8 million or $1.32 per share from $13.20 million or $1.05 per share in the same period last year.
On average, five analysts polled by Thomson Reuters expected the company to earn $1.19 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues totaled $572.8 million, up 24.0 percent from $461.90 million last year. Analysts expected revenues of $532.13 million.
Looking ahead, the company has increased its full-year earnings outlook to a range of $4.73 to $4.87 per share. This compares to the previous guidance range of $4.66 to $4.80 per share.
Revenues are currently projected in a range of $2.310 billion to $2.360 billion, up from $2.285 billion to $2.335 billion, announced previously.
Analysts, based on consensus, currently expect the company to report full-year earnings of $4.77 per share on revenues of $2.33 billion.
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