VCA Antech, Inc. (NASDAQ:WOOF) Reports 4Q Earnings above Estimate on Better-than-Expected Organic Growth

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. Disclaimer: The assembled information distributed by epicstockpicks.com is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Epicstockpicks.com does expect that investors will buy and sell securities based on information assembled and presented herein. EpicStockPicks.com will not be responsible in any way for or accept any liability for any losses arising from an investor's reliance on or use of information obtained from our website or emails. PLEASE always do your own due diligence, and consult your financial advisor.
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