UPDATE 1-Tractor Supply Q1 tops Street; reaffirms FY09 view
* Q1 EPS $0.01 vs est loss/shr $0.04
* Revenue up 13 pct
* Reaffirms fiscal 2009 view
April 22 (Reuters) - Retail farm and ranch supplies retailer Tractor Supply Co (TSCO.O: Cotización) posted a surprise first-quarter profit, helped by strong sales of animal and pet-related products, and reaffirmed its fiscal 2009 forecast.
"We have identified additional growth opportunities for the business, including expanding our long-term store target to 1,800 domestic stores," CEO Jim Wright said in a statement.
For the quarter ended March 28, the Brentwood, Tennessee-based company reported net income of $0.5 million, or 1 cent per share, compared with a net loss of $2.0 million, or 5 cents per diluted share, a year ago.
Revenue rose 13 percent to $650.2 million.
Analysts were expecting the company to post a loss of 4 cents a share, before special items, on revenue of $632.1 million, according to Reuters Estimates.
Gross margin increased 14.5 percent to $201.0 million. Continuación...