Petsmart 2012 Annual Report Download - page 71

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F-25
Note 13 — Selected Quarterly Financial Data (Unaudited)
Summarized quarterly financial information for 2012 and 2011 is as follows:
Year Ended February 3, 2013 First
Quarter Second
Quarter Third
Quarter Fourth
Quarter (1)
(13 weeks) (13 weeks) (13 weeks) (14 weeks)
(In thousands, except per share data)
Merchandise sales .............................................................. $ 1,439,559 $ 1,419,383 $ 1,444,683 $ 1,675,979
Services sales...................................................................... 181,014 190,867 175,018 193,572
Other revenue..................................................................... 9,320 9,417 9,810 9,615
Net sales ........................................................................... 1,629,893 1,619,667 1,629,511 1,879,166
Gross profit......................................................................... 497,374 488,815 482,512 593,438
Operating income............................................................... 154,351 136,060 139,554 221,252
Income before income tax expense and equity income
from Banfield ..................................................................... 140,222 122,510 126,179 207,977
Net income ......................................................................... 94,683 78,520 82,316 134,010
Earnings per common share:
Basic................................................................................. $ 0.87 $ 0.73 $ 0.76 $ 1.26
Diluted.............................................................................. $ 0.85 $ 0.71 $ 0.75 $ 1.24
Weighted average shares outstanding:
Basic................................................................................. 108,930 108,260 107,719 106,470
Diluted.............................................................................. 111,030 109,934 109,333 108,071
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 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
__________
(1) The estimated impact of the additional week in the fourth quarter of 2012 was: net sales, $126.0 million; gross profit, $48.3
million; operating income, $29.9 million; income before income tax expense and equity income from Banfield, $29.9 million;
net income, $18.6 million; and diluted earnings per common share, $0.17.
PetSmart, Inc. and Subsidiaries
Notes to the Consolidated Financial Statements — (Continued)