This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

PetMed Express D/b/a 1-800-PetMeds Announces Its Second Fiscal Quarter Financial Results

POMPANO BEACH, Fla., Oct. 22, 2012 (GLOBE NEWSWIRE) -- PetMed Express, Inc. (Nasdaq:PETS) today announced its financial results for the quarter ended September 30, 2012. Net income was $4.0 million, or $0.20 diluted per share, for the quarter ended September 30, 2012, compared to net income of $3.9 million, or $0.19 diluted per share, for the quarter ended September 30, 2011, a 6.0% increase to EPS. Net income was $8.0 million, or $0.40 diluted per share, for the six months ended September 30, 2012, compared to net income of $8.8 million, or $0.41 diluted per share, for the six months ended September 30, 2011, a 4.0% decrease to EPS. Net sales for the quarter ended September 30, 2012 were $58.1 million, compared to $58.2 million for the quarter ended September 30, 2011. Net sales for the six months ended September 30, 2012 were $127.1 million, compared to $131.8 million for the six months ended September 30, 2011, a decrease of 3.6%. Online sales increased 2.9% for the quarter ended September 30, 2012, with approximately 77% of all sales being generated via the Internet, compared to 74% for the same period the prior year.

Menderes Akdag, CEO and President, commented: "We were able to stabilize our top line and improve our bottom line results this quarter. Net income growth in the quarter can be attributed to the leveraging of our operating expenses by saving 136 basis points. The advertising costs of acquiring a new customer were reduced to $42 for the quarter ended September 30, 2012, compared to $43 for the same quarter the prior year. Although sales were relatively flat during the quarter ended September 30, 2012, total orders increased by 5.5%, and reorder sales increased by 2.1%. The unavailability of Novartis brands, due to the manufacturer's suspended production, continued to negatively impact our sales. During the quarter we repurchased 397,000 shares of our common stock for $3.9 million, at an average share price of $9.74. Looking to the future, we will continue to focus on advertising efficiency and shifting sales to higher margin items, including generics, while continuing to expand our product offerings."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,010.68 -115.44 -0.64%
S&P 500 2,107.39 -13.40 -0.63%
NASDAQ 5,070.0260 -27.95 -0.55%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs