RTTNews | Jun 23, 2021 10:07AM EDT

10:07 Wednesday, June 23, 2021 (RTTNews.com) - Patterson Companies, Inc. (PDCO) shares are sliding on Wednesday morning trade after the company projects fiscal 2022 earnings below estimates. For fiscal 2022, the company expects $1.61 per share and adjusted earnings of $1.90 - $2.05 per share. Analysts expects earnings of $2.10 per share.

The dental and animal health products provider reported fourth-quarter net profit attributable of $28.76 million or $0.30 per share, compared to net loss of $608.59 million or $6.44 per share in the prior year. On an adjusted basis, earnings were $0.38 per share.

On average, 14 analyst polled by Thomson Reuters expected the company to earn $0.52 per share.

Net sales for the quarter increased to $1.561 billion from $1.286 billion in the previous year.

The shares are currently at $31.43, down 10.59 percent from the previous close of $35.12 on a volume of 959,829. For the 52-week period, the shares have traded in a range of $19.90-$37.37 on average volume of 709,478.

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