UPDATE 2-Patterson Q4 below Street, sees weak 2010; shares fall
* Q4 EPS $0.46 vs est $0.50
* Sees 2010 EPS $1.70-$1.80 vs. est $1.85
* Shares fall as much as 11 percent
(Adds analysts' comments, updates share movement)
May 21 (Reuters) - Dental equipment distributor Patterson Cos Inc (PDCO.O: Quote, Profile, Research) reported lower-than-expected quarterly results as sales fell at two of its key businesses, and forecast a weak fiscal 2010, sending its shares down as much as 11 percent.
"The company's visibility for fiscal 2010 seems somewhat worse than we expected," Barclays Capital analyst Lawrence Marsh wrote in a research note.
For 2010, the company sees earnings of $1.70 to $1.80 a share compared with analyst expectations of a profit of $1.85 a share.
Weak economy hit each of the company's businesses in the fourth quarter, particularly in the area of equipment sales as hospitals and doctors cut back on purchases to preserve cash amid tough credit conditions.
However, the company said dental practitioners continued investing at higher levels in new technology products. Continued...
One Year Later
Mumbai held tearful memorials and police staged a show of strength as it marked the first anniversary of militant raids that killed 166 people and ratcheted up tensions with Pakistan. Slideshow | Full Coverage
Liberhan Commission Report
The government published a long awaited report, recently leaked, accusing BJP leaders of a role in the 1992 destruction of the Babri mosque in Ayodhya. Full Article
