March 23, 2009 / 1:07 PM / 9 years ago

UPDATE 1-Pet Valu Q4 profit falls on forex losses

* Q4 adj EPS $0.40 vs $0.46 last year

* Foreign exchange loss $0.14/shr

March 23 (Reuters) - Pet Valu Inc PVC.TO, a wholesaler of food and supplies for pets, posted lower quarterly profit, hurt by losses related to the decline of the Canadian dollar.

The company posted fourth-quarter net income of $4.3 million, or 42 cents a share, compared with $4.7 million, or 46 cents a share, in the year-ago period.

Excluding items, the company earned 40 cents a share.

Total foreign exchange losses for the quarter were $2.2 million, or 14 cents a share.

Sales rose 1 percent to $47.4 million.

Same-store sales, or sales at stores open at least a year, rose 5.5 percent in Canada, and 7.4 percent in the U.S., excluding the additional week in the latest quarter ended Jan. 3.

Pet Valu said its lower debt levels, substantial free cash flow and credit facility provided for sufficient resources to pursue growth objectives in 2009.

Shares of the Markham, Ontario-based company closed at C$9.00 Friday on the Toronto Stock Exchange. (Reporting by Isheeta Sanghi in Bangalore; Editing by Anne Pallivathuckal)

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