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Pet Food News
on May 25, 2010

PetSmart releases 2010 first quarter results

PetSmart Inc. recently reported earnings of US$0.46 per share in its first quarter of 2010, up 24% compared to $0.37 per share in the first quarter of 2009.

PetSmart Inc.  recently reported earnings of US$0.46 per share in its first quarter of 2010, up 24% compared to $0.37 per share in the first quarter of 2009. The company's net income totaled US$55.6 million in the first quarter of 2010, compared to US$46.3 million in the first quarter of 2009.

Total sales for the first quarter of 2010, which were partially impacted by US$12 million in favorable foreign currency fluctuations, increased 5.1% to US$1.4 billion.

During the first quarter, the company generated US$86 million in operating cash flow, spent US$31 million in capital expenditures, distributed US$12 million in dividends, and repurchased US$107 million of PetSmart stock.

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