Management Comments on Animal Health International, Inc. (AHII) Fiscal Year 2008 Financial Results and Outlook for 2009
Source: http://Blog.QualityStocks.net/?p=12291Posted on Thursday, September 11th, 2008 | In Small & Micro Cap
Animal Health International, Inc. (NASD: AHII), through its wholly owned subsidiaries, is engaged in the distribution of animal health products in the United States and Canada. The company’s management team recently commented on its fiscal year 2008 financial results and outlook for 2009. Shares of Animal Health International declined earlier this week after the announcement of net income of $2.7 million, or $0.11 per fully diluted share. Analysts had predicted net income of $0.13 per share.
Net sales increased 11.7 percent, or $18.6 million, to $178.3 million for the three months ended June 30, 2008, up from $159.7 million during the same quarter last year. For the fiscal year, net sales increased by 13.8 percent to $87 million for the year ended June 30, 2008. Acquisitions accounted for 69 percent, or $60.2 million, of the annual increase and organic sales gained 4.3 percent from the same period last year.
The CFO of Animal Health International, William F. Lacey, provided fiscal year 2009 guidance in a conference call earlier this week. He stated, “We expect net sales for fiscal year 2009 to be in the range of $740 million to $780 million. Earnings per share for fiscal year 2009 are expected to be in the range of $0.49 to $0.54, or $0.69 to $0.74 without the non-cash amortization.”
During the call, the management stated that the company has successfully invested in the growth of the business and continues to develop its core market strengths, further supporting Animal Health International’s market position in 2009 and beyond.
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Animal Health International Inc., Canada, health products, Nasd, Small & Micro Cap, United States, USD, William F. Lacey
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