MWI Veterinary Supply Q1 Profit Rises; Reaffirms FY14 Guidance

(RTTNews) - MWI Veterinary Supply, Inc. (MWIV) reported that its first-quarter net income increased to $18.4 million, from $16.8 million, last year. Earnings per share were $1.45, compared to $1.32, prior year.

On average, seven analysts polled by Thomson Reuters expected the company to report profit per share of $1.43 for the quarter. Analysts' estimates typically exclude special items.

Total revenues increased 20.0% to $687.3 million, from $572.8 million, a year ago. Analysts expecte revenue of $693.21 million for the quarter. Excluding the impact of the acquisition of the assets of IVESCO Holdings, LLC which closed on November 1, 2013, revenue growth was 9.6% in the United States for the quarter.

The company reaffirmed its estimates for the fiscal year ending September 30, 2014. The company estimates that revenues will be from $2.89 billion to $2.94 billion, and earnings per share from $5.47 to $5.67. Analysts expect the company to report fiscal year 2014 earnings per share of $5.62 on revenue of $2.93 billion.