On Nov. 15, PetSmart
- Revenues grew by 14%, driven by comparable store sales, which grew by 6.8%.
- PetSmart opened 28 new stores and closed four locations during the third quarter; the company currently operates 885 stores.
- The company purchased approximately 4.9 million of its shares at an average price of $24.96 during Q3. The company can purchase another $128 million worth of shares by August 2007.
- EPS grew by 9.5%, helped by the decline in share count from repurchases.
- PetSmart estimates earnings at approximately $0.54 to $0.56 per share in the fourth quarter and $1.31 to $1.33 per share for the full year.
(Figures in million, except per-share data)
Income Statement Highlights
|
Q3 2006 |
Q3 2005 |
Change |
|
|---|---|---|---|
|
Sales |
$1,034.8 |
$907.7 |
14% |
|
Net Profit |
$31.7 |
$31.1 |
1.9% |
|
EPS |
$0.23 |
$0.21 |
9.5% |
|
Diluted Shares |
138.7 |
144.8 |
(4.2%) |
Get back to basics with a look at the income statement.
Margin Checkup
|
Q3 2006 |
Q3 2005 |
Change* |
|
|---|---|---|---|
|
Gross Margin |
29.9% |
29% |
0.9 |
|
Operating Margin |
5.5% |
5.6% |
(0.1) |
|
Net Margin |
3.1% |
3.4% |
(0.4) |
Margins are the earnings engine. See how they work.
Balance Sheet Highlights
|
Assets |
Q3 2006 |
Q3 2005 |
Change |
|---|---|---|---|
|
Cash + ST Invest. |
$233.5 |
$298.9 |
(21.9%) |
|
Accounts Rec. |
$30.2 |
$28.6 |
5.6% |
|
Inventory |
$509.6 |
$458.2 |
11.2% |
|
Q3 2006 |
Q3 2005 |
Change |
|
|---|---|---|---|
|
Accounts Payable |
$219.2 |
$218.8 |
0.2% |
|
Long-Term Debt |
$420.9 |
$335.5 |
25.5% |
Learn the ways of the balance sheet.
Cash Flow Highlights
A statement of cash flows was not provided.
Find out why Fools always follow the money.
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