Approximately 77% of our sales were generated on our website for the quarter compared to 73% for the same period the prior year. The seasonality in our business is due to the proportion of flea, tick and heartworm medications in our product mix. Spring and summer are considered peak seasons, with fall and winter being the off seasons.
For the first fiscal quarter, our gross profit, as a percent of sales, was 32.4% compared to 32.8% for the same period 1 year ago. The percentage decrease can be attributed to an increase in freight costs to improve service levels.
Our general and administrative expenses, as a percent of sales, was 8.6% for the first fiscal quarter compared to 8.3% for the same quarter the prior year. The increase was due to lower sales.
We spent $9.8 million in advertising for the quarter compared to $10.1 million for the same quarter the prior year, a decrease of about 2%. We reduced advertising late in the quarter due to increases in costs. The advertising cost of acquiring a customer was $50 for the quarter compared to $45 for the same quarter the prior year.Read the rest of this transcript for free on seekingalpha.com
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV