Patterson Companies Reports Improved Second Quarter Operating Results.

ST. PAUL, Minn. -- Patterson Companies, Inc. (Nasdaq:PDCO) today reported consolidated sales of $694,273,000 for the second quarter of fiscal 2007 ended October 28, 2006, an increase of 8% from $641,697,000 in the year-earlier quarter. Substantially all of Patterson's second quarter sales growth was internally generated. Net income came to $48,237,000 or $0.35 per diluted share, up 8% from $44,720,000 or $0.32 per diluted share in the second quarter of fiscal 2006. Current quarter earnings were reduced by stock compensation expense of approximately $0.01 per diluted share.

Patterson Dental, Patterson's largest business, reported sales growth of 7% to $512,200,000 in the second quarter.

* Sales of consumable dental supplies and printed office products increased 7% from last year's second quarter. On a comparable basis, which excludes the telemarketing operation of the former Accu-Bite business that was closed in May 2006, consumable sales were up approximately 8%.

* Sales of dental equipment increased 4% in the second quarter, with sales of basic equipment and software, including digital radiography installations, more than offsetting the decline in sales of CEREC 3D[R] dental restorative systems during the quarter.

* Sales of other services and products, consisting primarily of technical service parts and labor, software support services and artificial teeth increased 17% in the second quarter.

Sales of the Webster Veterinary unit increased 15% in the second quarter of fiscal 2007 to $95,362,000. Excluding the December 2005 acquisition of Intra Corp, developer and marketer of IntraVet[R] veterinary practice management software, Webster's sales rose 13%. Sales of Patterson Medical, Patterson's rehabilitation supply and equipment unit, increased 10% in the second quarter to $86,711,000 in comparison to the year-earlier level.

James W. Wiltz, president and chief executive officer, commented: "Our Patterson Dental unit performed at a relatively high level in this year's second quarter, with consumable dental supplies, basic dental equipment and digital radiography systems and related software posting solid year-over-year sales growth. The lone exception was our CEREC product line. Despite lower second quarter sales, CEREC continues to be a substantial contributor to our equipment business. We are striving to reinvigorate the growth of this next-generation system and believe sales momentum should gradually strengthen in future periods. We remain convinced that CEREC's advanced CAD/CAM technology represents the future of dental restorative procedures."

He continued: "Patterson's veterinary and medical businesses turned in strong performances in the second quarter, with both units recording double-digit sales growth. The strategic emphasis of Webster Veterinary on strengthening its equipment business paid further dividends in the second quarter, as sales of veterinary equipment rose more than 100% from the prior year's level. In addition, Webster recorded strong sales of its IntraVet practice management software line that was acquired in December 2005. Additional IntraVet software currently under development will position Webster to maximize the capabilities of digital radiography equipment, enabling this unit to offer a value-added technology solution similar to that of Patterson Dental. We also are encouraged by the solid sales growth of Patterson Medical, making us believe this unit is responding to the strategies implemented by the unit's new management team. Patterson's consolidated second quarter earnings also benefited from improved operating leverage, reflecting strengthened expense management throughout our organization."

Patterson is forecasting earnings of $0.43 to $0.45 per diluted share for the third quarter of fiscal 2007 ending January 27, 2007. This guidance incorporates stock compensation expense of approximately $0.01 per diluted share. The Company is reiterating its full-year fiscal 2007 earnings guidance of $1.58 to $1.61 per diluted share, or $1.54 to $1.57 after the approximate $0.04 per diluted share impact of stock compensation expense.

Impact of Compensation Expense Under SFAS No. 123(R)

Net income and earnings per share excluding the impact of compensation expense under SFAS No. 123(R) are considered non-GAAP financial measures. The company adopted SFAS No. 123(R) on April 30, 2006 using the modified prospective method. Management believes that reporting net income and earnings per share excluding the impact of compensation expense under SFAS No. 123(R) provides useful supplemental information that may enhance investors' overall understanding of the company's current financial performance and may enhance the comparability of results against comparable periods. Net income and earnings per share excluding the impact of SFAS No. 123(R) are used by management internally to measure the company's profitability and performance, but should not be considered as an alternative to, or a substitute for, GAAP financial measures. A reconciliation of net income and earnings per share with and without the impact of SFAS No. 123(R) is included as a table attached to this press release.

About Patterson Companies, Inc.

Patterson Companies, Inc. is a value-added distributor serving the dental, companion-pet veterinarian and rehabilitation supply markets.

Dental Market

As Patterson's largest business, Patterson Dental provides a virtually complete range of consumable dental products, equipment and software, turnkey digital solutions and value-added services to dentists and dental laboratories throughout North America.

Veterinary Market

Webster Veterinary is the nation's second largest distributor of consumable veterinary supplies, equipment and software, diagnostic products, vaccines and pharmaceuticals to companion-pet veterinary clinics.

Rehabilitation Market

Patterson Medical is the world's leading distributor of rehabilitation supplies and non-wheelchair assistive patient products to the physical and occupational therapy markets. The unit's global customer base includes hospitals, long-term care facilities, clinics and dealers.

This release 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; 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.

Second Quarter Conference Call and Replay

Patterson's second quarter earnings conference call will start at 10:00 a.m. Eastern today. Investors can listen to a live webcast of the conference call at www.pattersoncompanies.com. Listeners should go to this website at least 15 minutes prior to the call to download and install any necessary audio software. The conference call will be archived on Patterson's web site. A replay of the second quarter conference call can be heard through November 30, 2006 by dialing 1-303-590-3000 and providing the 11076446 confirmation code.

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