MWI, VCA, WebsterApril 17, 2009MWI Reports 14% Revenue Growth MWI Veterinary Supply Inc. of Meridian, Idaho, reported net income of $5.9 million on revenue of $231.8 million in the first quarter ended Dec. 31. That compares to net income of $4.7 million on revenue of $203.4 million in the year-ago period. “While the environment is more challenging, the MWI team again delivered great operating results in the December quarter,” said Jim Clearly, president and chief executive officer. “We had 14 percent growth in revenue, 26 percent growth in net income, 42 percent growth in Internet sales, and we finished the quarter with excellent liquidity and no borrowings on our $70 million credit line.” MWI reaffirms its estimates for the fiscal year ending Sept. 30. The company expects revenue of $900 million to $950 million, which represents growth of 8 to 14 percent. VCA Antech Sees 9.4% Rise in Animal Hospital Revenue VCA Antech Inc.’s Animal Hospital Division reported revenue of $229 million in the fourth quarter ended Dec. 31, compared to $209.3 million in the year-ago period. The 9.4 percent increase was driven by acquisitions. During the fourth quarter, the company acquired …
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Heska, Procter & Gamble, Nestle Purina - 08-13-2008April 17, 2009Heska Corp. Heska Corp.’s companion animal health division recently reported revenue of $17.32 million for its second quarter ended June 30, compared to revenue of $16.24 million in the year-ago period. Year to date, the division reported revenue of $34.68 million, compared to revenue of $33.23 million in the year-ago period. Overall, Heska reported net income of $666,000 on revenue of $22.62 million for its second quarter, compared to net income of $1.03 million on revenue of $20.09 million in the year-ago period. Year to date, the company reported net income of $440,000 on revenue of $44.53 million, compared to net income of $3.43 million on revenue of $42.8 million in the year-ago period. “We posted a solid second quarter result, with revenue from our new chemistry instrument—the Heska Dri-Chem 4000 Veterinary Clinical Chemistry Analyzer by Fujifilm—representing a key factor in our Core Companion Animal Health segment product revenue growth,” said Robert Grieve, Heska’s chairman and chief executive officer. “Beginning in 2008 we are reporting our domestic net operating loss usage and other deferred tax items as income tax expense. This presents a difficult comparison as we did no report these items as income …
VCA Antech Inc.April 17, 2009 VCA Antech Inc.’s animal hospital division reported revenue of $209.3 million for its fourth quarter ended Dec. 31, compared to revenue of $171.9 million in the year-ago period. Year to date, the division reported revenue of $844.3 million for its fourth quarter, compared to revenue of $712 million in the year-ago period. Animal hospital same-store revenue for the fourth quarter grew 2.5 percent. Year to date, animal hospital same-store revenue grew 5.2 percent. The laboratory division reported revenue of $68.6 million for its fourth quarter, compared to revenue of $63.3 million in the year-ago period. Year to date, the division reported revenue of $295.7 million, compared to revenue of $258.3 million in the year-ago period. The medical technology division reported revenue of $13.9 million for its fourth quarter, compared to revenue of $14 million in the year-ago period. Year to date, the division reported revenue of $46.8 million, compared to revenue of $39.3 million in the year-ago period. Overall, VCA Antech reported net income of $24.6 million on revenue of $284.2 million for its fourth quarter, compared to net income of $19.3 million on revenue of $242.4 million in the year-ago period. Year to …
Neogen’s Animal Safety Division Sees 45% IncreaseApril 17, 2009 Neogen Corp.’s animal safety division recently reported revenue of $13.26 million for its first quarter ended Aug. 31, compared to revenue of $9.15 million in the year-ago period, representing a 45 percent increase. The increase included growth in products sold to veterinarians through ethical market channels, growth in products sold to large food animal producers and processors and a continued increase in sales of diagnostic products. The company also noted the resurgence of same-store sales growth within the division, especially within its Hacco subsidiary, which specializes in rodenticides and other bait formulations. Neogen’s food safety division reported revenue of $15.55 million for its first quarter, compared to revenue of $13.76 million in the year-ago period, representing a 13 percent increase. The increase was led by sales of diagnostic tests for food allergens—a 48 percent increase—driven by new customers and a number of high-profile food recalls related to food allergens. International sales accounted for 42 percent of total first quarter revenue and were helped by the June formation of Neogen’s new subsidiary in Mexico to enhance distribution of products in that country, and Central America. The company’s Scotland-based Neogen Europe subsidiary also continued …
Neogen Corp. - 04-28-2008April 17, 2009 Neogen’s animal division recently reported revenue of $11.3 million for its third quarter ended Feb. 29, a 20 percent increase from $9.5 million in the year-ago period. The third quarter saw a 48 percent increase in sales of specialty needles and syringes to be used by manufacturers of veterinary supplements and pharmaceuticals. With the acquisition of Kane Enterprises last year, third-quarter sales of Neogen’s animal over-the-counter products increased 63 percent compared to the year-ago period. Year to date, the division reported revenue of $33.2 million, a 16 percent from $28.7 million in the year-ago period. Overall, Neogen reported net income of $2.7 million on revenue of $25.2 million for its third quarter, compared to net income of $2 million on revenue of $21.1 million in the year-ago period. Year to date, the company reported net income of $8.9 million on revenue of $75.3 million, compared to net income of $6.8 million on revenue of $63.5 million in the year-ago period. Neogen’s animal division is in Lexington, Ky. <HOME>
Financial Newswire 02-05-2008April 17, 2009PetMed Express Mail order pet pharmacy PetMed Express of Pompano Beach, Fla., reported a 60 percent increase in net income and a 19 percent increase in revenues for its third quarter ended Dec. 31 , driven in part by growth in its reorders and Internet sales. For the quarter, the company posted net income of $4.4 million on sales of $37.3 million, compared to net income of $2.8 million on sales of $31.4 million in the year-ago period. Year-to-date, the company posted net income of $15.1 million on sales of $147.9 million, compared to net income of $10.8 million on sales of $125.8 million in the year-ago period. Reorder sales grew 28 percent for the quarter to $28.4 million and 23 percent to $103.4 million for the nine-month period. Internet sales, which accounted for about 65 percent of PetMed’s revenues in the third quarter of 2007 compared to 63 percent in 2006, grew 23 percent to $24.4 million for the quarter and 24 percent to $96 million for the nine-month period. Internet and reorder sales boost the company’s profit margins as they allow the company to leverage operating costs. PetMed sales prescription and non-prescription …
VCA Antech Inc. - 02-05-2008April 17, 2009 Los Angeles-based VCA Antech Inc. recently reported preliminary financial results of $284 million for its fourth quarter ended Dec. 31 and year to date revenue of $1.16 billion. In addition to the acquisition of Healthy Pet Corp., which included 42 animal hospitals with annual revenue of about $80 million, VCA Antech acquired 29 individual animal hospitals with annual revenue of more than $57 million. “We believe that, historically, the animal healthcare industry and our business have been relatively resistant to changes in the general economy, but not immune to them,” said Bob Antin, chairman and chief executive officer. “However, the fourth quarter results appear to indicate that we were marginally impacted by the uncertainty in the economy. “In addition, the timing of the Christmas and New Year holidays, the California fires, the weather and competition also had an adverse impact on our results. As a result of these factors, during the fourth quarter, and particularly the second half of the quarter, our internal revenue growth slowed. Animal hospital same-store revenue growth for the fourth quarter of 2007 was 2.5 percent and laboratory internal revenue growth was 9.1 percent.” Year to date, animal hospital same-store revenue …
Still More Recall Questions Than AnswersApril 17, 2009 The Menu Foods Inc. pet-food recall, which began mid-March and has grown to include more than 100 brands, is still making headlines. The list continued to grow at press time, including the addition of the first ferret food: 8 in 1 Ferret Ultra-Blend Advanced Nutrition Diet. People have been concerned about what to feed their pets, says Ann Hohenhaus, DVM, Dipl. ACVIM, chair of the Department of Medicine at The Animal Medical Center in New York City. But if you look at the overall picture, she adds, only a small percentage of pet food has been recalled. “Most pet food is actually OK to feed your pet,” Dr. Hohenhaus says, adding that the real problem lies in the ongoing recall announcements. “People have anxiety because they pick a food that they think is safe, and then because it is a moving target, it may not be safe tomorrow,” she says. From Jan. 1 to March 31, AMC saw about 35 cases of nephrotoxicity, representing about half dogs and half cats, in which pets with kidney failure had eaten the recalled foods. Hohenhaus says that the hospital has seen deaths associated with the recall, but …
Snake X-ray Takes Top PrizeApril 17, 2009For the third year in a row, a snake radiograph has been named the winner of Vet Practice News' annual "They Ate WHAT?" radiograph contest featuring the odd things that animals have been known to ingest. And this was a snake to reckon with – a 12-foot-long, 65-pound Burmese phython that had not only consumed its dinner, a rabbit, but the electric blanket underneath the bunny. The annual contest is sponsored by Eklin Medical Systems of Santa Clara, Calif. Gregory Rich, DVM, of Metairie, La., is the veterinarian who the snake and posed for a photo of with the blanket. Elizabeth Boland, North Carolina State Class of 2008, was named winner in the student category for her radiograph of a dog that had swallowed a small stuffed dog—which she also radiographed. Both win single-lens reflex digital cameras. Dr. Rich won in the professional category, and Roland in the student category. "It was interesting to see the marked increase in digital radiographs this year compared to past contests," said Gary R. Cantu, president and chief executive officer of Eklin, which has sponsored the contest every year. "Even though a snake radiograph won for a third time, we always marvel at the …
United Front Tames The FlamesApril 17, 2009 The recent Southern California wildfires forced more than a half million people from their homes, many with their pets, and quickly consumed almost 800 square miles. At one point, at least 15 fires burned from Los Angeles’ San Fernando Valley south to the Mexican border. When fires of this great magnitude ignite, it takes preparedness and collaboration between veterinarians, animal control, pet owners, government agencies and other organizations to help ensure the safety of people and their pets. This is one reason the American Red Cross now partners with local animal control in setting up emergency shelters. When the Red Cross opens a shelter, it informs local animal control that more than likely it will have animal needs. Animal control then sets up a shelter adjoining the Red Cross shelter. The Southern California wildfires brought many types of animals to Red Cross shelters, including dogs, cats, snakes, birds and even fish, says Amy Hegy, public affairs manager of the San Diego chapter. “The initial concern for many of these evacuees is ‘What’s going to happen to my pet?’” Hegy says. “It was very comforting for people to know that …
