Henry Schein, MWI, Hill'sApril 17, 2009Henry Schein to Cut 300 Jobs In an effort to reduce costs in the current economic environment, Henry Schein of Melville, N.Y., will eliminate about 300 positions from its operations around the world, or about 2.5 percent of its workforce. The company will also close several smaller facilities. “Given the recent changes in the economic climate, we expect that the markets Henry Schein serves will continue to grow, but at somewhat slower rates during these challenging economic times,” said Stanley Bergman, chairman and chief executive officer of the company. “While we remain confident in our ability to achieve our financial goals, we are taking these actions in light of our view that sales growth for 2009 may moderate somewhat from what we have experienced over the past several years. “This is a difficult decision, but by taking these steps to reduce costs, Henry Schein will remain well positioned to help our customers operate more successful practices and deliver high quality of care to patients.” Henry Schein reported net income of $68.43 million on revenue of $1.65 billion for its third quarter ended Sept. 27, compared to net income of $59.57 million on revenue of $1.51 billion. …
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Pet DRx Corp.April 17, 2009 Pet DRx Corp. of Brentwood, Tenn., recently reported net loss of $5.24 million on revenue of $17.92 million for its second quarter ended June 30, 2008 compared to net loss of $3.27 million on revenue of $17.73 million in the year-ago period. “We are pleased to have grown same-store revenue in this challenging economic environment,” said Steven Johnson, president and chief operating officer. “We acquired an additional facility in July which further strengthens our presence in the Coachella Valley in California. “We continue to focus on optimizing the productivity and efficiency of our current facilities in California, and remain confident that our strategy of building ‘hub-and-spoke’ networks in high volume markets will provide customers with the best possible service. “We also delivered on our goal of moving the trading of Pet DRx from the OTC Bulletin Board to the Nasdaq, which has increased our visibility in the financial community.” Year to date, the company reported net loss of $8.27 million on revenue of $35.76 million, compared to net loss of $5.8 million on revenue of $28.4 million. Pet DRx has temporarily suspended its financial guidance. It expects to resume guidance following the completion of …
VCA Antech Inc. - 04-25-2008April 17, 2009 Los Angeles-based VCA Antech Inc. recently reported that its animal hospital revenue for the first quarter ending March 31 was $226.1 million, compared to revenue of $187.2 million in the year-ago period. The 20.8 percent increase was driven by acquisitions and same-store revenue growth of 1.9 percent. The company reported laboratory revenue of $76.7 million for the first quarter, compared to $73.6 million in the year-ago period. Medical technology revenue was $13.8 million for the first quarter, compared to $11.2 million in the year-ago period. Overall, VCA Antech reported net income of $31.2 million on revenue of $307.8 million for the first quarter, compared to net income of $28.3 million on revenue of $265.1 million in the year-ago period. The company’s 2008 financial guidance includes revenue from $1.3 billion to $1.33 billion. <HOME>
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 …
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 …
