Today's Early Winners and Losers

Shares of PetSmart(PETM) advanced in late trading Wednesday after the pet-products seller's fourth-quarter results beat Wall Street's expectations. PetSmart posted fiscal first-quarter earnings of $70.9 million, or 50 cents a share, up from $65 million, or 43 cents a share, a year earlier. Excluding certain items, earnings were 47 cents a share, a penny above analysts' mean estimate. Net sales for the fourth quarter rose to $1.05 billion from $934.3 million a year earlier, while same-store sales grew 4.5%. Analysts polled by Thomson First Call expected sales of $1.04 billion.

The retailer said it expects same-store sales growth in the low- to mid-single digits for the first quarter of 2006, and in the mid-single digits for the full year. PetSmart projected earnings of 28 cents to 30 cents a share for the first quarter and $1.37 to $1.39 a share for the full year. Analysts are looking for earnings of 31 cents a share in the first quarter and $1.38 for the year. PetSmart advanced $2.27, or 8.7%, to $28.48 in after-hours trading.

Shares of OmniVision Technologies(OVTI) fell in after-hours trading even though the maker of semiconductor image sensor devices posted better-than-expected fiscal third-quarter results. The company reported income of $29.6 million, or 53 cents a share, for the third quarter ended Jan. 31. A year earlier, the company earned $21.1 million, or 33 cents a share. Revenue for the third quarter was $137.3 million, up from $101.8 million a year ago. Analysts had forecast earnings of 45 cents a share and revenue of $135.8 million.

Looking ahead, the company predicted fourth-quarter earnings of 35 to 40 cents a share, with revenue of $120 million to $130 million. Analysts expect the company to earn 39 cents a share on revenue of $127.4 million. OmniVision shares fell $3.07, or 11%, to $24.14 late Wednesday.