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VCA Hospital, Lab Revenues Gain in Q2
Posted: July 26, 2012, 5:45 p.m. EDT
Second quarter revenues for VCA Antech rose 16.6 percent in the second quarter, including 0.2 percent same-store revenue growth and 2.6 percent growth in laboratory revenue, the Los Angeles-based company reported today.
During the second quarter, the company also acquired five independent animal hospitals with historical combined annual revenue of $10.8 million, driving overall hospital revenues up 17.5 percent. However, same-store adjusted gross profit margin decreased from 18.3 percent in Q2 of 2011 to 15.5 percent this year.
“We continued to grow revenue during the quarter as a result of both acquisitions and same-store results,” said Bob Antin, chairman and CEO of VCA. “The pace of the economic recovery, however, slowed during the quarter which primarily impacted our animal hospital business segment’s organic growth rates and related margins.”
As a whole, VCA reported net earnings of $35.8 million on revenues of $342.3 million for its second quarter, ended June 30, 2012, compared with earnings of $40.1 million on revenues of $291.3 million in the year-ago period.
Year-to-date, the company reported net earnings of $72.1 million on revenues of $658.4 million compared with earnings of $70.6 million on revenues of $561.3 million in the year-ago period. <HOME>
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VCA Hospital, Lab Revenues Gain in Q2
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