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PATTERSON : Regulation FD Disclosure (form 8-K)

07/25/2014 | 05:32pm US/Eastern
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Item 7.01 Regulation FD Disclosure

On July 24, 2014 after the close of the market, IDEXX Laboratories, Inc. ("IDEXX") informed Patterson Companies, Inc. ("Patterson") that as of January 1, 2015, it will move to an all-direct distribution model for its veterinary diagnostic test kits in the United States rather than selling these products through distributors.

Patterson estimates that this change could impact earnings per share by 4 to 5 cents annually, with the greatest impact occurring in Patterson's fourth and first fiscal quarters. Patterson intends to offer alternative products in the future, which is expected to help mitigate the impact of this change.

Certain information contained in this form 8-K includes forward-looking statements.

This 8-K contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are information of a non-historical nature and are subject to risks and uncertainties that are beyond the Company's ability to control. The Company cautions shareholders and prospective investors that the following factors, among others, may cause actual results to differ materially from those indicated by the forward-looking statements: competition within the dental, veterinary, and rehabilitative and assistive living supply industries; changes in the economics of dentistry, including reduced growth in expenditures by private dental insurance plans, the effects of economic conditions and the effects of healthcare reform, which may affect future per capita expenditures for dental services and the ability and willingness of dentists to invest in high-technology products; the effects of healthcare related legislation and regulation which may affect expenditures or reimbursements for rehabilitative and assistive products; changes in the economics of the veterinary supply market, including reduced growth in per capita expenditures for veterinary services and reduced growth in the number of households owning pets; the ability of the Company to maintain satisfactory relationships with its sales force; unexpected loss of key senior management personnel; unforeseen operating risks; risks associated with the dependence on manufacturers of the Company's products; and the ability of the Company to successfully integrate the recent acquisitions into its existing business. Forward-looking statements are qualified in their entirety by the cautionary language set forth in the Company's filings with the Securities and Exchange Commission.

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