Patterson Companies Reports Fiscal 2019 Second-Quarter Results
Summary
Internal sales, which are adjusted for the effects of currency translation and changes in product selling relationships, increased 1.8 percent.In July 2018, Patterson Companies booked a pre-tax reserve of $28.3 million for the anticipated settlement of purported class action antitrust litigation.Our non-GAAP adjusted earnings 1 guidance excludes the after-tax impact of: - Deal amortization expenses of approximately $31.1 million ($0.33 per diluted share).In addition, the term “internal sales” used in this release represents net sales adjusted to exclude foreign currency impact and changes in product selling relationships.Such risks and uncertainties include, without limitation, operations disruptions attributable to our enterprise resource planning system implementation; our ability to attract or retain qualified sales representatives and service technicians who relate directly with our customers; the reduction, modification, cancellation or delay of purchases of innovative, high-margin equipment; material changes in our purchasing relationships with suppliers; changes in general market and economic conditions; and the other risks and important factors contained and identified in Pattersons filings with the Securities and Exchange Commission, such as its Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K, any of which could cause actual results to differ materially from the forward-looking statements.
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