VCA reports revenue increase

Los Angeles

-- Despite the nation's lagging economy, a Los Angeles-based veterinary hospital chain is reporting a double-digit revenue increase for the second quarter.

VCA Antech Inc., owner of 465 animal clinics in 39 states, reports its second-quarter revenue increased 11.4 percent to $334.4 million, with profits growing by 7.9 percent to $97 million.

For the six-month period ending June 30, the company reports its revenue up 13.6 percent to a record $642.3 million.

"Current economic conditions ... have had an adverse impact on our internal revenue growth rates," says VCA Antech Chairman and Chief Executive Officer Bob Antin. "However, we have been able to counteract the affects of the general economy and continue to grow our bottom-line results without compromising our high standard of animal health care by increasing our rate of acquisitions ... and by implementing cost controls."

The company acquired 15 new veterinary hospitals in the second quarter and 36 so far for the year.