VCA Antech, Inc. (NASDAQ:WOOF) reported its fourth fiscal quarter financial
results ahead of analysts' expectation as a result of higher organic revenue
growth on Thursday evening, February 17, after the markets closed. For the
fourth fiscal quarter, the company earned $22.1 million or 25 cents a share,
down from $26.2 million, or 29 cents a share in the year-ago quarter. Excluding
items, the company earned 24 cents a share, 3 cents above the analysts'
estimate of 21 cents a share. This increase is driven by nominally stronger
revenues and better profitability, despite a continuing decline in organic
hospital growth. Revenue rose 7.3% year over year to $338.1 million from $315.2
million, with 10% increase in animal hospital revenue to $261.6 million.
Analysts on average were expecting revenue of $331.8 million. Animal Hospital
same-store sales declined 2.2% in the fourth quarter, which is a substantial
improvement from the 4.0% decline in the third quarter. Organic growth for the
reference lab business was up 1.5%, which is a substantial improvement from the
0.9% decline in the third quarter. The Company announced that for fiscal 2011,
it expects revenue from $1.47 billion to $1.51 billion; net income from $124.1
million or $1.42 a share to $132.8 million or $1.52 a share. Analysts on an
average were expecting the Company to report revenue of $1.46 billion, net
profit of $129.0 million and EPS of $1.47 for fiscal 2011. Shares of an animal
healthcare company operating in the United States and Canada went up by $2.13 or
8.97% to $25.88 after the company reported fourth quarter earnings in excess of
expectations as same-store growth metrics improved. Volume of 2.32 million
shares has been traded compared to the daily average of 0.535 million shares
after opening at $24.10. The 52 week range of the stock is $19.12-$29.28. The
market capitalization of the stock is $2.23 billion with P/E of 19.72 and beta
of 0.86. The Company provides veterinary services and diagnostic testing to
support veterinary care, and sells diagnostic imaging equipment and other
medical technology products and related services to the veterinary market.
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