PetSmart, Inc. (NASDAQ:PETM) is the largest specialty pet retailer of services and solutions for the lifetime needs of pets. The company employs approximately 48,000 associates and operates more than 1,197 pet stores in the United States, Canada and Puerto Rico, over 185 in-store PetSmart PetsHotel dog and cat boarding facilities and is a leading online provider of pet supplies and pet care information (http://www.petsmart.com). PetSmart provides a broad range of competitively priced pet food and pet products; and offers dog training, pet grooming, pet boarding, PetSmart Doggie Day Camp day care services and pet adoption services. Since 1994, PetSmart Charities, Inc., an independent 501(c)(3) non-profit animal welfare organization and the largest funder of animal welfare efforts in North America, has provided more than $134 million in grants and programs benefiting animal welfare organizations. Through its in-store pet adoption partnership with PetSmart Charities, PetSmart has helped save the lives of more than 4.5 million pets.
PetSmart Reports Results for the Second Quarter 2011
Q2 Earnings up 32% to $0.54 per Share; Comp Sales of 5.0%; Total Sales up 7.0%; Comp Transactions of 2.0%
PetSmart, Inc. (NASDAQ: PETM) reported earnings of $0.54 per share, up 32% compared to $0.41 per share in the second quarter of 2010. Net income totaled $61 million in the second quarter of 2011, compared to $48 million in the second quarter of 2010.
Total sales for the second quarter of 2011 increased 7.0% to $1.5 billion. The increase in net sales was partially impacted by $6 million in favorable foreign currency fluctuations. Comparable store sales, or sales in stores open at least a year, grew 5.0%, benefiting from comparable transactions growth of 2.0%. Services sales, which are included in total sales, grew 7.6% to $178 million.
During the second quarter, the company generated $109 million in operating cash flow, spent $20 million in capital expenditures, distributed $14 million in dividends, and repurchased $63 million of PetSmart stock. The Company ended the quarter with $321 million in cash, cash equivalents and restricted cash and zero borrowings on its credit facility.
�The strength of our brand was evident with another quarter of solid performance,� said Bob Moran, Chief Executive Officer and President, �and validates the work that we are doing on our journey to becoming a best-in-class specialty retailer.�
�For all of 2011, we expect comparable store sales growth in the low- to mid-single digit range, and total sales growth in the mid-single digit range. We are raising our earnings per share guidance from a previous range of $2.32 to $2.42 to our current expectations of $2.40 to $2.48,� said Chip Molloy, Senior Vice President and Chief Financial Officer. �For the third quarter of 2011, we are expecting comparable store sales growth in the 3-4% range, and earnings per share between $0.41 and $0.45.�
CTI Industries Corp. (Nasdaq:CTIB) a manufacturer and marketer of flexible packaging and storage products, laminated films and novelty balloons, announced its results of operations for the second quarter of 2011 and for the six month period ended June 30, 2011. Consolidated net sales for the second quarter of 2011 were $11,965,000 compared to consolidated net sales of $12,964,000 for the second quarter of 2010, a decrease of 7.7%. The Company earned net income of $13,000 or $0.0 per share (basic and diluted) for the second quarter of 2011 compared to net income of $607,000 or $0.21 per share (basic) and $0.20 (diluted) for the second quarter of 2010.
CTI Industries Corporation develops, manufactures, and supplies flexible film products in the United States and internationally. It also provides value-added design, engineering, and production for flexible film products.
Jones Soda Co. (Nasdaq:JSDA) a leader in the premium soda category and known for its unique branding and innovative marketing, announced results for the second quarter ended June 30, 2011. The Company reported a net loss of $1.8 million, or ($0.06) per share, for the second quarter of 2011, compared to a net loss of $1.6 million, or ($0.06) per share, for the second quarter 2010.
Headquartered in Seattle, Washington, Jones Soda Co.� markets and distributes premium beverages under the Jones Soda, Jones Pure Cane Soda� and WhoopAss Energy Drink� brands and sells through its distribution network, which it refers to as its direct store delivery (DSD) channel, in markets primarily across North America.
Clean Diesel Technologies Inc. (Nasdaq:CDTI) a cleantech emissions reduction company, announced its financial results for the second quarter ended June 30, 2011. Total second quarter 2011 revenue was $11.5 million, down 10.8% compared to the same period in the prior year. Second quarter 2011 revenue for Clean Diesel’s Heavy Duty Diesel Systems division increased $1.3 million, or 15.6% compared to the same period in the prior year. Gross margin was 29.8% for the second quarter of 2011 compared to 24.5% for the same period in the prior year.
Clean Diesel is a vertically integrated global manufacturer and distributor of emissions control systems and products, focused on the heavy duty diesel and light duty vehicle markets.
Crown Equity Holdings Inc., (CRWE)
Crown Equity Holdings Inc’s selection of Core Link reflects recent diversification beyond CRWE’s original charter as a provider of services and knowledge to small business owners taking their own companies public. In addition to these services, Crown Equity Holdings Inc has transitioned into a multifaceted media organization that publishes clients’ news online; sells advertising adjacent with its digital network targeted at a high-income audience; designs, hosts and maintains websites; produces marketing videos from concept to final product; crafts press releases and articles for maximum SEO; develops email campaigns; and forges branding campaigns to bolster client company images.
Crown Equity Holdings, Inc. together with its digital network, currently provides electronic media services specializing in online publishing, which brings together targeted audiences and advertisers. Crown Equity Holdings Inc. offers internet media-driven advertising services, which covers and connects a range of marketing specialties, as well as search engine optimization for clients interested in online media awareness.
Advantages of online advertising include:
1. Less expensive than offline advertising
2. Easy tracking of advertising results
3. Immediate response to advertising efforts
4. Advertise globally
5. Website advertising business 24/7
6. Effective targeting of potential customers
7. Increased profit
Crown Equity Holdings Inc. (CRWE) is pleased to announce that it has entered into a joint venture to deploy VoIP (Voice over Internet Protocol) technology delivering voice, video and data services to residential and commercial customers. The joint venture company is Crown Tele Services Inc. which was a wholly-owned subsidiary of Crown Equity Holdings Inc.
Commenting on the joint venture, Kenneth Bosket, President of Crown Equity Holdings Inc., said: “We are excited to deliver VoIP communications solutions specifically designed to meet the business and residential market needs with Mr. Kumar who has extensive experience in this fast-growing global market.”
For more information please visit official website of CRWE: http://www.crownequityholdings.com
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