MWI Veterinary Supply Q2 Profit Rises; Reaffirms FY14 Guidance - Quick Facts

(RTTNews) - MWI Veterinary Supply, Inc. (MWIV) reported that its second-quarter net income increased to $16.8 million from $15.1 million, last year. Earnings per share was $1.32 compared to $1.19.

On average, six analysts polled by Thomson Reuters expected the company to report profit per share of $1.37 for the quarter. Analysts' estimates typically exclude special items.

Total revenues increased 28.1% to $721.3 million from $563.1 million, a year ago. Analysts expected revenue of $717.88 million, for the quarter. Revenues from the IVESCO business were $120.2 million for the quarter ended March 31, 2014. Excluding the impact of the acquisition of substantially all of the assets of IVESCO Holdings, LLC, which closed on November 1, 2013, revenue growth was 8.0% in the United States. Revenue growth was impacted by severe weather conditions experienced during the quarter, the company said.

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. The company estimates earnings per share will be from $5.47 to $5.67. Analysts expect the company to report full year profit per share of $5.62 on revenue of $2.94 billion.