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• PETM 67% Rate It

Pet products retailer PetSmart, Inc. ( PETM ) late Wednesday posted better-than-expected second quarter earnings and lifted its full-year forecast, sending its shares ramping higher in aftermarket trading.

The Phoenix-based company reported second quarter net income of $78.5 million, or 71 cents per share, compared with $61.2 million, or 54 cents per share, in the year-ago period.

Revenue rose 8.7% from last year to $1.62 billion.

On average, Wall Street analysts expected a smaller profit of 66 cents per share, on lower revenue of $1.60 billion.

Looking ahead, PETM forecast third quarter earnings of 59 to 63 cents per share, which straddles analysts' estimate of 61 cents.

For the full year 2012, PetSmart raised its outlook to a range up $3.30 to $3.40 per share, up from a prior forecast of $3.19 to $3.31. Analysts currently expect $3.31 per share for the year.

PetSmart shares rose $3.86, or +5.7%, in premarket trading Wednesday.

The Bottom Line
Shares of PetSmart ( PETM ) have a .98% dividend yield, based on today's closing stock price of $67.44. The stock has technical support in the $62-$63 price area. The shares are trading near all-time highs.

PetSmart, Inc. ( PETM ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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