PetSmart Q4 Adj. Profit Tops Estimate - Quick Facts

(RTTNews) - PetSmart, Inc. (PETM) reported net income for the fourth quarter of $132.1 million or $1.32 per share, compared to $131.5 million or $1.28 per share in the year-ago quarter.

Excluding one-time costs associated with the company's profit improvement program and transaction-related costs related to the sale of the Company, adjusted net income for the latest quarter was $143.0 million or $1.43 per share.

Net sales for the latest fourth quarter rose 6.0% to $1.91 billion from $1.80 billion in the comparable quarter last year. Same-store sales growth for the quarter was up 2.6%, with average ticket increasing 2.0%, and comparable transactions increasing 0.6%. Services sales grew 6.8% to $198.2 million.

On average, analysts polled by Thomson Reuters expected the company to earn $1.38 per share on revenue of $1.87 billion for the fourth quarter. Analysts' estimates typically exclude special items.

On December 14, 2014, the company entered into a definitive agreement to be acquired by a consortium led by BC Partners, Inc. at a price of $83.00 per share in cash. The transaction is expected to close in the first quarter of 2015, subject to shareholder approval and other customary closing conditions. The special meeting of shareholders to consider and vote on the transaction will be held on March 6, 2015.

In light of the pending transaction, the company is not providing guidance for 2015.