Pet Valu Inc. recently announced un-audited fourth-quarter financial results, including net income for the quarter ending Jan. 3, 2009, of US$4.3 million, compared to net income of US$4.7 million for the fourth quarter of fiscal 2007, according to Fox Business .
Excluding non-comparable items and losses or gains on foreign exchange, net income was US$5.6 million compared to net income of US$4.7 million for the fourth quarter of fiscal 2007.
Net income for the fiscal year ending Jan. 3, 2009, was US$14.7 million compared to US$12.4 million for fiscal 2007.
Net income excluding non-comparable items and losses on foreign exchange for the fiscal year ending Jan. 3, 2009, was US$17.4 million, whereas net income excluding non-comparable items and gains on foreign exchange for the year ending Dec. 29, 2007, was US$11.8 million.
The story reports Pet Valu earnings were impacted in the fourth quarter of 2008 and for fiscal year 2008 by losses related to the change in the Canadian/US exchange rate.
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