MWI, VCA, Webster

Financial updates for MWI Veterinary Supply, VCA Antech Inc., and Webster Veterinary.

MWI 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 eight animal hospitals that had more than $31.7 million in annualized revenue.

Although VCA Antech’s same-store revenue remained essentially flat during the quarter, its same-store gross profit margin increased to 18.3 percent from 16.2 percent.

Year to date, the division reported revenue of $959.4 million, compared to $844.3 million in the year-ago period.

The company’s Laboratory Division reported fourth-quarter revenue of $69.3 million, compared to $68.6 million in the year-ago period.

The Medical Technology Division saw revenue of $12.9 million for its fourth quarter, compared to $13.9 million in the year-ago period.

Overall, the Los Angeles-based company reported fourth-quarter net income of $25.7 million on revenue of $303.2 million, compared to $24.6 million and $284.2 million, respectively, in the year-ago period.

Year to date, VCA Antech had net income of $133 million on revenue of $1.3 billion, compared to $121 million and $1.2 billion, respectively, in the year-ago period.

The company provided financial guidance for 2009: revenue of $1.36 billion to $1.39 billion and net income of $135.2 million to $141.1 million.


Webster Veterinary's Third-Quarter Revenue Up 35%

Webster Veterinary, a unit of Patterson Companies Inc. of St. Paul, Minn., reported revenue of $145.3 million for the third quarter ended Jan. 24, compared to $107.6 million in the year-ago period.

The 35 percent increase reflects the October acquisition of Columbus Serum Co.

Year to date, the unit reported revenue of $392.1 million, compared to $327 million in the year-ago period.

Overall, Patterson reported third-quarter net income of $52.8 million on revenue of $811 million, compared to $60.4 million and $776.9 million, respectively, in the year-ago period.

Year to date, net income was $145.7 million on revenue of $2.3 billion, compared to $161.6 million and $2.2 billion in the prior year.

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