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covetrus Covetrus Announces Financial Results for Second Quarter of 2021 August 5 , 2021 • Second quarter GAAP net sales of $ 1.19 billion , an increase of 16 % year - over - year ; non - GAAP organic net sales increased 12 % year - over - year Second quarter GAAP net loss attributable to Covetrus of $ 31 million versus GAAP net income of $ 54 million in the prior year period ; second quarter non - GAAP adjusted net income of $ 35 million , an increase of 17 % year - over - year • Second quarter non - GAAP adjusted EBITDA of $ 66 million , an increase of 5 % year - over - year ; non - GAAP adjusted EBITDA margin decreased 50 bp year - over - year to 5.6 % • Full - year 2021 non - GAAP adjusted EBITDA guidance range of $ 245 million to $ 255 million remains unchanged PORTLAND , Maine -- ( BUSINESS WIRE ) -- Aug . 5 , 2021-- Covetrus® ( Nasdaq : CVET ) , a global leader in animal - health technology and services , today announced financial results for the second quarter of 2021 , which ended June 30 , 2021 . " Covetrus continues to advance our value proposition to the veterinary industry and pet owners globally . In the second quarter , we delivered solid results , improved our market position and progressed our innovation agenda , " said Ben Wolin , Covetrus president and CEO . " While we still have plenty of work to do , I am confident in our strategic direction and growth opportunities in what remains a healthy , but dynamic , end - market . I anticipate our momentum will continue to build in the second half of 2021 and beyond . " Summary Operating Results ( Unaudited ) ( In millions , except per share data ) Net sales Income ( loss ) before taxes Net income ( loss ) attributable to Covetrus Diluted earnings ( loss ) per share ( EPS ) Non - GAAP Measures : ( a ) Organic net sales growth Non - GAAP Adjusted EBITDA Non - GAAP Adjusted net income attributable to Covetrus Three Months Ended June 30 , 2021 $ 1,189 $ ( 18 ) TM $ ( 31 ) $ ( 0.23 ) 12 $ 66 $ 35 % 2020 $ 1,026 $ 59 $ 54 $ 0.40 $ 63 $ 30 Six Months Ended June 30 , 2021 $ 2,291 $ ( 30 ) $ ( 47 ) $ ( 0.34 ) 8 $ 123 $ 64 % 2020 $ 2,091 $ 24 $ 20 $ 0.15 $ 111 $ 50 ( a ) Non - GAAP financial measures should be considered in addition to , but not as a substitute for , the information provided in accordance with GAAP . Reconciliations for non - GAAP financial items to the most directly comparable GAAP financial items are provided under Reconciliation of Non - GAAP Financial Measures at the end of this release . Second Quarter 2021 Results Net sales for the second quarter of 2021 were $ 1.19 billion , an increase of 16 % compared to the second quarter of 2020. Non - GAAP organic net sales , which adjusts for changes in foreign exchange and the impact from mergers , acquisitions and divestiture activity , increased 12 % year - over - year ,