Patterson 2Q Profit Rises 11 Percent

The company reported net income of $53.7 million, or 39 cents per share, compared with $48.2 million, or 35 cents per share, in the year-ago period.

Revenue rose to $742 million from $694.3 million a year earlier with gains in all segments, but worse-than-expected results in the dental unit.

Analysts polled by Thomson Financial expected a profit of 40 cents per share on revenue of $761 million.

"Patterson Dental recorded a mixed performance in this year's second quarter, but on balance, we are disappointed with the overall results of this unit," James W. Wiltz, president and chief executive of Patterson, said in a release. "Sales of dental equipment and software fell short of forecasted levels."