VCA Antech Inc.’s same-store revenue declined by 2.7 percent in the first quarter ended March 31, while the same-store gross profit margin rose to 18.8 percent from 18.5 percent.
The Animal Hospital Division reported first-quarter revenue of $238.4 million compared to $226.1 million in the year-ago period. The 5.4 percent increase was driven by acquisitions made in the past 12 months.
The Los Angeles company made nine acquisitions during the quarter, marking historical combined annual revenue of $20.9 million.
VCA Antech’s Laboratory Division reported first-quarter revenue of $77.5 million, compared to $76.7 million in the year-ago period.
Revenue in the Medical Technology Division was $9.2 million in the first quarter, compared to $13.8 million in the year-ago period.
Overall, VCA Antech reported first-quarter net income of $32.9 million on revenue of $315.9 million, compared to $32.2 million and $307.8 million, respectively, in the year-ago period.
The company also affirmed its 2009 financial guidance: revenue of $1.36 billion to $1.39 billion and net income of $135.2 million to $141.1 million.