Revenue At VCA Antech’s Existing Hospitals Edges Up In Q3

Revenue at VCA Antech’s Existing Hospitals Edges Up in Q3Revenue at VCA Antech’s Existing Hospitals Edges Up in Q3, Antech Q3 2011Same-store revenue at VCA Antech’s animal hospitals grew by 1.0 percent for the third quarter of its 2011 fiscal year, compared to the year-ago period.Same-store revenue at VCA Antech’s animal hospitals grew by 1.0 percent for the third quarter of its 2011 fiscal year, compared to the year-ago period.newslineRevenue at VCA Antech’s Existing Hospitals Edges Up in Q3Posted: Oct. 27, 2011, 7:00 p.m. EDT

Strong financial performances at VCA Antech Inc.’s network of hospitals led to increased third quarter earnings and revenues for the Los Angeles company.

VCA Antech reported today a 9.5 percent increase in revenues and a 10.6 percent increase in gross profit at its hospitals. Gross margin for the hospitals increased to 17.0 percent from 16.8 percent in the year-ago period, and operating margin increased to 15.1 percent from 14.8 percent in the third quarter of 2010.

Total revenue for the hospitals increased to $303.2 million, due in large part to VCA Antech’s acquisition of four independent hospitals and BrightHeart Veterinary Centers and its nine animal hospitals.

“Although we continue to face a challenging business environment, we have been able to grow both organic Animal Hospital and Laboratory revenues during the quarter,” said VCA Antech chairman and CEO Bob Antin.

VCA Antech increased total its third quarter earnings by 10 percent compared to the year-ago period despite incurring debt retirement costs of $2.8 million and paying a tax audit settlement of $5.4 million.

The company reported net earnings of $30.2 million on revenues of $385.1 million, compared with earnings of $27.4 million on revenues of $358.7 million in the year-ago period. Year-to-date, the company reported net earnings of $98.6 million on revenues of $1.11 billion, compared with earnings of $88.7 million on revenues of $1.04 billion in the year-ago period.

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10/27/2011 5:14 PM

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