to everyone and welcome quarter conference Thank you, call. John, first our
the for as key I outlook, into Don get like to call our Chief would progress earnings details Zurbay the a deep quarter, initiatives, welcome the his Officer. speed I first and conducting initiatives. the to financials our Before against Financial into key the Patterson's has getting dive our of been and joined us up Company to supporting at Don officially formally our on certainly end and by June
team you. someone part Don’s to experience Patterson is caliber fortunate the working forward of know of well have very are with and as leadership he of We to as I looking and all
our did expectations. results earnings for the not first meet Our quarter
primarily expectations with competitive and in reflecting to revenue in expectations, on our an pricing some pressures we to the our performance inventory margin the line due business, our fell at factors, two was short point-of-sale efforts stabilize While progress adjustment.
return our gaining enhance the some execution X.X% revenues to first which with in the growth. customer are improve positive to sales and and initiatives revenue in was ongoing quarter, a represented were line our line, top Consolidated the traction. On experience up expectations
Our delivered Production sales well X.X% revenue and growth our both segment consumables. generated as growth as in in and year-over-year Animal Health Companion segment businesses Dental equipment improving solid the trends in
the the and business profitability, our in of expectations did terms on business not meet topline While in performance in performed both in quarter. line Animal with expectations the Dental Health
We are of in and business and process improvement that rebuilding our the Dental overnight. will in not we this segment stabilizing recognized happen
the earnings and believe the we we platform growth. to positive Dental in work to as However, strongly segment taking are long the return view
pricing point-of-sale. by I the quarter As primarily in mentioned, the were margins first pressure impacted at
have impact the we very a was in anticipated. operated first always during competitive the While environment, than quarter greater
remarks. pressure current adjustment result the point-of-sale more plan. adjustment Together, than inventory detail we the to the gross our our to our our line as caused points be through pricing during pressure Don coming on margins XX his new generated and visibility in approximately our In the which in We quarters, revenue quarter ERP margins. provide platform, to contributed adjustment on this the of overall inventory the remain with also increased will lower made expectations. operating a basis an also expect
we However, the will pressure experienced year. expect throughout first during quarter the pricing the that we persist point-of-sale
earnings in per As in non-GAAP to revised full-year of $X.XX $X.XX earnings for our GAAP to guidance now we remainder to expectations and range the to updating a earnings $X.XX are be $X.XX diluted the result, to of the per XXXX diluted range the share We be expect our guidance share. fiscal XXXX guidance year. reflect of
they cost and as ahead, we to us carefully expenses the adjustments our the structure in our should ensure you needs make to and As opportunities look aligned with expect needed analyze are to business.
staying changed, and we improved performance. for help initiatives drive will outlook disappointed believe While actions the we key has are are that the year focused on we our
broad reminder, stabilize on the are As initiatives a we business. to five focused
second, enhancing execution; improved Patterson. fifth, sales overall driving the the talent our stabilizing flow; customer build improving experience; fourth, to continuing First, margins; third, and cash at
initiative on the this undertaken our initiatives. is will progress are we our start the and aspect margin the other taking front. given A margins we progress strategic area with in our have before we on the enhance are I to capabilities key central Now good reviewing pressure sourcing quarter, of the making this in actions on
to additional top XX of the and number actively work, a we will our started executed we however, take benefits. RFPs see we with quarter, the before suppliers. This engage time some During
Additionally, products. we focus our have higher private our margin increased label on
our have well of discussed management established private last our sales quarter, over goals we team new portfolio, label aligned as existing as As growth products the label we and penetration private time. and specific across around both increasing adding to portfolio businesses our
impact this sales And during area. overall in faster better our substantially our than quarter. label to Animal in starting are see our business Health our business overall segment, the the Dental private Health label Animal Consumables grew segment. our We private of early example, as an our focus Dental And performed than
experienced active this we was and we more we quarter confident over steps we So also during address while result quarters, the are while margins more we time. anticipate these to our trends are the coming anticipated stable the pressure than headwind in taking in will pricing that persist will and efforts
to and made measurable outstanding progress of during customers needs to I again come to operations meet our am and ability on let We the with in focus Starting the quarter me back efforts very customer core over our service. experience, months. initiatives. our am our other to the key team's day-to-day front continue business very the confident I with our six improve this last Now our providing pleased improving on
perspective, experience an addressed key and my for or rates, satisfaction, forward. fill We from been the customer delivering going But a customer we with us. exceed customer continue quality, our focusing have largely priority to including customer experience and meet faced customer us major the remains goals, experience behind on order are and outstanding top issues
force Sales rolled our quarterly several quarters. committed new already representatives been of In positive terms engaged in investing the very goal encouraged to rolling our out productivity Both Animal and manage Meetings force time first was out recently our I customers. these these deliver their we more our sales the territories are that sales met conducted and investments them of meetings made execution, a progress for we are Dental pleased productivity business, of Patterson tools that directly good as signs to continuing that seeing in. and our improving segments find sales in targets hire Health is of sales helping energized, have we've I in to I to from heard new the am helping we’ve several tools effectively. we and the sales their at early National
we in focus and continue capital during payable, cash flow inventory. working strong to front, and the as quarter flow On first generated put $XXX receivable, than the our accounts more accounts on we cash million
already in facility also provide remarks. well. we impact on the With first accounts addition, Don at to more our overall expertise significant had from facility, perspective. respect mentioned about dental our benefit a build and as expect on receivable trade new his during cash having excitement will we Don flows on key final to our we've fresh color which to this the quarter talent Board a In greatly continuing initiative, implemented and his Patterson,
conducting and lead We right look new President Dental for our expertise segment Patterson's the search this and the of skills of we Board someone crucial process bringing a a in are to to also segment in forward on business. with
sense Our key these operating is to leadership team of with urgency a focused and on initiatives. execute
also and now delivered inline with the Margins our revenue businesses. growth specific strong production in Health performance to companion our segments, Animal were both expectations. with Moving animal
faster Private sales label also very front strong that on for is and margin experienced Health we success area pressure initiatives us help segment. expect competitive actions we this significantly is example we a mitigate some Health the in our pleased that our are focus to the private mentioned than Animal has continue Health overall quarter. during we While as key segment of showing been One are take to to I grew results Animal and this pricing our persist, of Animal which the products, our label pressure.
Importantly, we value proposition our upon segment. continue in this build to
and of quarter, solutions providing streamline designed practices simplify our innovative their quarter. in just customers. a Partners, venture thank Animal Animal broad veterinary example launch to the proposition software, joint and with customers, which we congratulate to is Cure for services, software the commitment Health comprehensive intuitive new unique want workflows the announced technology, first one offer NaVetor. of NaVetor and is the veterinary a I cloud-based support. team to Patterson’s demonstrates practice our for to the value This performance and and strong of Health management range products, During to we includes
Dental our segment. to now Turning
saw earlier, overall large our we expectations. installed growth sales revenues line private our base. is were the label our growth solid our categories, with In mentioned business. software outperformed consumables particularly I As Equipment and consumables, all which positive trends saw product in across given in and impressive rates
inventory adjustment earlier, much segment already of However, as point-of-sale are pressure mentioned. Dental the noted we've experiencing the where we in the pricing is
operating As segment margins place not I overnight. segment result, a the take our do earlier, line were expect expectations. the Also as improvement not with mentioned in Dental for the we in to
I are do CAD-CAM particularly the generated want that growth progress we categories. making and to pleased in However, with highlight the and digital we are
broader Sirona revenue software continue the a is with responding with saw equipment to quarter. growth through marketing result, we pleased of and prior closely how in solid executing the of the exclusivity And products. our this manage promotions of to we these and out market, to our are related sales during all transition manufacturers as and the a products, portfolio across play categories While team working are still implications we are we seeing with the and field
did overall the growth. profitable While taking our continuing segment back business to approach are and Dental long our to our to meet we very planned Dental and take thoughtful we a view restoring not are expectations,
on goals service heavily executing First, against over customer our the we've six experience. and day-to-day been months the focused improving past
are I am performance. service has rallied team service metrics around across achieving mentioned, our As improving with we our I and core our how Patterson proud
this area largely this We and is issue us. in believe have made again great behind strides
been teams productive. we’ve reinvesting in tools organization in more productivity adding field to to Second, reps our investing by territory and our new sales be management help and territory
a consumables category, As trends. seeing our are in we improving result,
the notably broader certainly is through and the continuing of we portfolio equipment this in transition a key generated growth of solid in the have marketplace, equipment category, working category play products. while our we out to transition And all across much to categories. in been Next this
in greater However, consumables the under pressure, in revenue in expect on both in our we our equipment compete results margin has made continued pressure saw in our and equipment. progress consumables both come gross which as in performance, marketplace point-of-sale and categories competitive anticipated pricing we We our and a than have quarter. margin
in on some which of our our of and also private the in in terms our improving As improving More a result, than seeing specifically business product label product focused we quarter. the around are been business early overall positive buy have mix, our side our we perform better signs cost consumables position mix. category,
right cost our position are We manufacturer focusing branded are products closely customer’s also consumables partners margins. those our focused teams we ensure on and to mix the filling need right working generate the with consumables appropriate and meet sales of our also have that we on that and our branded
work much our stabilizing have am sales of the and do field focus but We to terms teams. of improved and revenue the results with our in I a pleased improved from margins, morale standpoint
and be expect quarter executing thoughtful be segment that segment of our we to our continued that plan while plan. in did clearly improve segment, are want performance have what the to not we we our in the Dental methodical a in against the So reflects meet challenges we Dental to and expectations clear and guidance I
As we've excited field initiatives. but sales the the a take investments of discussed, the of Sales focus as meetings amongst and our it's number time about engagement I believes the team are future saw will focused right recent clear recognized National teams and results. we we’re we making these in on am I to very at the our investments see business,
topline, addition stabilizing going to our forward and we’re drive centered investments energy to will our making In margins. the the be on focus
believe we've is segment. year a As Dental for indicated, fiscal XXXX we transition our
are trajectory urgency reposition back to right the taking for and are and steps get segment growth We operating a long-term. we on the with feel the
strategy quarterly want I on to on as a a we've process been provide general long-term Finally, the doing update basis.
We strong brand believe we the are stable and is in Patterson these continue that to in end markets. markets strong that
doing making the believe right will value we It providing comprehensive proposition we take customers. Importantly, believe team to we the the we for building are track hold, are time work support and are on but to our a right take and we are progress.
we constantly investing As identify to customers a customers. trends, operate are closely and the recognized in reinforcing for and value-added expect, would we opportunities improvement. you the all we types sizes for guided segments services markets, key our we value all of and lines environment product evaluating both of for the and our are competitive Across are business, factor our of in by proposition our compelling which principle
to we outstanding manage tailor responsiveness our most and national help to solutions leading the large technologies look forward to partner, are related to our sales coming a relationships brand, customers strategy practices most scale, or and enabling people. a customers set offer quarters. Our support long-term grow with the we the as and service our in process we We sharing needs. value strong able serving the relevant technology, But to build products and of teams customers’ dedicated products success. their private with on outstanding as business trusted are By our service well business. their more competently as small we provide are organizations to deepen focused and Whether our outstanding ability of importantly, and working experience our on our updates and strength
turn before would to like the provide a it Litigation. Now over I I brief Dental to Supplies update Don, regarding
been recently to no violation continue discussions plaintiffs. no merit the and entered such has law, while any to in of there without admit any and we we settlement While liability way are believe with of claims we finding into
Based these upon into and cost period agreement avoid court not these have and into that, statements upon over turn definitive distraction And agreement the our litigation our to it As and solely million. we any on our this did although in to I'll resolving approval, final consolidated inherent time, $XX.X such direct our XXXX. for reflected XX, refocus the currently Don. uncertainty would to desire definitive of subject pretax We with agreement. a a a financial estimate this we be we settlement and anticipate preliminary efforts business. yet this litigation July of will discussions, result the discussions, entered quarterly that be to settlement We ended entering based expense, estimate of
