Petsmart 2011 Annual Report Download - page 80

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PetSmart, Inc. and Subsidiaries
Notes to the Consolidated Financial Statements — (Continued)
Note 14 — Selected Quarterly Financial Data (Unaudited)
Summarized quarterly financial information for 2011 and 2010 is as follows:
Year Ended January 29, 2012
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
(13 weeks) (13 weeks) (13 weeks) (13 weeks)
(In thousands, except per share data)
Merchandise sales .......................... $1,314,349 $1,300,473 $1,326,819 $1,460,090
Services sales .............................. 167,096 177,945 161,339 168,479
Other revenue .............................. 8,921 9,135 9,399 9,259
Net sales ................................ 1,490,366 1,487,553 1,497,557 1,637,828
Gross profit ............................... 441,415 436,984 428,160 497,864
Operating income ........................... 121,683 110,276 101,196 169,964
Income before income tax expense and equity in
income from Banfield ..................... 107,236 96,021 87,158 155,862
Net income ................................ 70,905 61,180 56,158 102,000
Earnings per common share:
Basic ................................... $ 0.62 $ 0.54 $ 0.50 $ 0.92
Diluted ................................. 0.61 0.54 0.50 0.91
Weighted average shares outstanding:
Basic ................................... 113,541 112,396 111,330 110,364
Diluted ................................. 115,699 114,341 113,081 112,100
Year Ended January 30, 2011
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
(13 weeks) (13 weeks) (13 weeks) (13 weeks)
(In thousands, except per share data)
Merchandise sales .......................... $1,233,595 $1,216,682 $1,230,911 $1,359,619
Services sales .............................. 153,287 165,305 148,282 151,881
Other revenue .............................. 8,271 8,553 8,877 8,534
Net sales ................................ 1,395,153 1,390,540 1,388,070 1,520,034
Gross profit ............................... 404,292 396,295 388,985 464,959
Operating income ........................... 103,261 92,007 83,640 149,820
Income before income tax expense and equity in
income from Banfield ..................... 87,918 77,417 69,351 135,205
Net income ................................ 55,592 48,386 45,613 90,276
Earnings per common share:
Basic ................................... $ 0.47 $ 0.41 $ 0.39 $ 0.78
Diluted ................................. 0.46 0.41 0.38 0.77
Weighted average shares outstanding:
Basic ................................... 117,976 117,079 116,943 115,222
Diluted ................................. 120,382 119,423 119,360 117,712
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