Patterson reports Q2 results

Patterson Dental, Patterson Companies' largest business, reported sales of $549.1 million for the second quarter of fiscal 2013 (end-October 27), a figure unchanged from last year's second quarter. However, sales of consumable dental supplies and printed office products increased 1%.

Midsingle digit revenue growth of technology products was offset by softness in basic equipment resulting in a 3% decline in sales of dental equipment and software, according to the company. Demand for the next-generation Cerec system incorporating the new Omnicam intraoral camera was strong during the quarter, Patterson noted, but sales of the recently introduced system were constrained by product availability.

Sales of other services and products, consisting primarily of technical service, parts and labor, software support services and artificial teeth, increased 2% from last year's second quarter.

Patterson Companies as a whole reported consolidated sales of $867.2 million for the second quarter, an increase of 1% from $856.9 million in the same period a year ago. Net income for this year's second quarter was affected primarily by below-plan sales of dental equipment, as well as the absorption of $3.0 million of incremental interest expense related to Patterson's debt issuance in the third quarter of fiscal 2012.

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