PetMed Shares Tanking on Missed Revenue

Stock quotes in this article: PETS  

POMPANO BEACH, Fla. (TheStreet) -- Shares of PetMed Express are tanking in morning trading after the company missed second-quarter revenue expectations.

During the quarter, the direct-to-consumer pet-medication retailer earned $6.3 million, or 28 cents a share, compared with $5.8 million, or 25 cents, in the year-ago period. This was in-line with consensus.

Revenue inched up 5% to $62.4 million, but this still fell short of the $66 million analysts expected.

Shares are plunging 11.3% to $17.43 in morning trading.

-- Reported by Jeanine Poggi in New York

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