Patterson reports lower dental sales in Q1

Patterson Companies reported lower sales in its dental segment for the first quarter of fiscal 2018.

For the quarter (end-July 29), sales in the company's dental segment were $518.8 million, down 6.5% compared with $555.0 million in sales in the corresponding quarter of fiscal 2017. The dental segment represents approximately 40% of total company sales.

Sales of consumable dental supplies decreased 3.6% and equipment sales declined 15.1% in the quarter. Sales of other services and products, primarily composed of technical service, parts and labor, software support services, and office supplies, were flat, according to the company.

Patterson recorded overall revenues for the quarter of $1.30 billion, down 2.1% compared with $1.33 billion in the same quarter of fiscal 2017 after currency adjustments. The company posted net income of $30.8 million, down compared with net income of $38.9 million in the same quarter a year ago.