MWI Veterinary Supply’s (MWIV) first quarter of 2010 earnings per share came in at $0.63, well above the Zacks Consensus Estimate of $0.50 and the year-ago earnings of $0.48.
The company reported revenues of $236.1 million, an increase of 2% compared to the corresponding quarter of last year. Through its latest acquisition of UK-based Centaur Services, MWI is looking to expand its presence in the international market as well.
Although negative trends in the general economy could reduce consumer discretionary spending on animal health products, we are pleased with MWIV’s robust growth over the past few years and the strong outlook. Given these factors, we upgrade the stock to Outperform.Zacks Investment Research