On May 16, PetSmart
- Despite the recent pet-food recalls, sales continued to grow, increasing 9.9%.
- Profits surged a whopping 160%, with the help of $0.47 gain from the company's sale of its portion of MMI Holdings, the third-party operator of its veterinary hospitals.
- The discontinuation of State Line Tack, a line of equestrian supplies, cost $0.03 per share and resulted in lower gross and operating margins.
(Figures in millions, except per-share data.)
Income Statement Highlights
|
Q1 2007 |
Q1 2006 |
Change |
|
|---|---|---|---|
|
Sales |
$1,111.6 |
$1,011.5 |
9.9% |
|
Net Profit |
$106.7 |
$41.8 |
155.5% |
|
EPS |
$0.78 |
$0.30 |
160% |
|
Diluted Shares |
136.7 |
141.1 |
(3.1%) |
Get back to basics with the income statement.
Margin Checkup
|
Q1 2007 |
Q1 2006 |
Change* |
|
|---|---|---|---|
|
Gross Margin |
30.5% |
30.7% |
(0.2) |
|
Operating Margin |
6.9% |
7.4% |
(0.5) |
|
Net Margin |
9.6% |
4.1% |
5.5 |
Margins are the earnings engine.
Balance Sheet Highlights
|
Assets |
Q1 2007 |
Q1 2006 |
Change |
|---|---|---|---|
|
Cash + ST Invest. |
$283.0 |
$345.9 |
(18.2%) |
|
Accounts Rec. |
$57.4 |
$31.7 |
81.2% |
|
Inventory |
$461.7 |
$405.3 |
13.9% |
|
Liabilities |
Q1 2007 |
Q1 2006 |
Change |
|---|---|---|---|
|
Accounts Payable |
$187.5 |
$167.8 |
11.8% |
|
Long-Term Debt |
$436.6 |
$384.3 |
13.6% |
The balance sheet reflects the company's health.
Cash Flow Highlights
No free cash flow statement? Bad PetSmart! Bad!
Related Foolishness:
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Fool by Numbers is designed to give you the raw earnings information in a timely fashion, putting all the numbers you need in one easy-to-read place. But at The Motley Fool, we believe numbers tell only part of the story, so check Fool.com for more of our in-depth discussion of what the numbers mean. This data has been provided by Netscribes. To provide feedback on this article, please click on the "feedback" button below.
