Patterson reports slide in dental sales, overall profit in Q1

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Patterson Companies reported lower sales in its dental segment but an overall profit for the first fiscal quarter of 2020.

For the quarter (end-July 27), net sales in the company's dental segment were $501.1 million, down 0.8% from $506 million the same quarter of 2019. However, Patterson reported a net profit of $30 million, compared with a net loss of $4.5 million in the first quarter a year ago.

Within the dental segment, sales of consumable supplies decreased 0.7% and equipment sales and software declined by 6.9% for the quarter. However, value-added services, such as technical service, parts and labor, and office supplies, increased 9.8%, according to the company. Dental sales represent approximately 38% of total company sales.

The company reported an overall profit in its first quarter despite a 0.6% decrease in net sales to $1.329 billion, compared with the same quarter last year.

Patterson Companies President and CEO Mark Walchirk attributed the profit to operational improvements and expense discipline.

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