Fountain Report Excerpts March 7, 2023

Fountain Report Excerpts
  1. Dechra reported first-half revenue of 377.4 million pounds, up 13.5% from the prior year at actual exchange rates. Underlying operating profit of 90.3 million pounds was down 3.8%. Underlying diluted earnings per share were 55.44 pounds, down 13.4%. “Although Group underlying operating profit reduced year-over-year, this is largely due to the planned £13.0 million increase in R&D expenditure following the acquisition of Piedmont Animal Health in July 2022 and ongoing investment in our existing pipeline, which included £5.5 million relating to Akston,” according to the announcement.
  1. PetIQ reported fourth quarter net sales of $184.1 million, down 6.4% due to an 8% decrease in product segment net sales compared to the prior year. Net loss was $6.8 million, compared to net loss of $14 million in the prior year. Net sales for the year were $921.5 million, down 1.2%. Net loss was $48.2 million, compared to net loss of $16 million last year. “Looking forward, we believe we are well-positioned for solid growth in 2023 across our product and services segments to attract more pet parents to our health and wellness offerings,” said Chairman and CEO Cord Christensen.
  1. Illinois has reported its first commercial case of avian influenza since the onset of the virus in February 2022. The case occurred in a turkey flock of 18,200 birds in Wayne County. About 58.5 million birds have died in the current U.S. bird flu outbreak, compared to 50.5 million in the 2014-2015 outbreak, Feedstuffs reports.

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