Medical equipment distributor Patterson Companies, Inc. (PDCO) reported fourth-quarter net income of $63.56 million or $0.62 per share, higher than $62.14 million or $0.58 per share in the previous year.
On average, 16 analysts polled by Thomson Reuters expected earnings of $0.62 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales grew 3.1 percent to $964.93 million from $936.33 million a year earlier. Analysts estimated revenues of $969.44 million for the quarter.
Looking ahead to fiscal 2014, the company expects earnings per share to be in the range of $2.10 to $2.20 per share. Analysts are looking for earnings of $2.24 per share for the fiscal.
The company said its outlook includes an earnings per share impact of $0.06 from information technology investments.
"We remain cautiously optimistic as we look ahead to fiscal 2014 and believe that the year will be supported by continued stabilization of the North American economy," the company said.
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