PetMed Express, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2015
January 25, 2016 at 06:30 pm IST
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PetMed Express, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended December 31, 2015. For the quarter, the company reported sales of $50,933,000 against $49,284,000 a year ago. Income from operations was $7,622,000 against $7,666,000 a year ago. Income before provision for income taxes was $7,673,000 against $7,712,000 a year ago. Net income was $4,890,000 against $4,797,000 a year ago. Diluted earnings per share were $0.24 against $0.24 a year ago. The increase in sales for the quarter ended December 31, 2015 can be attributed to increased new order sales, which increased 6.8%, and reorders sales, which increased 2.8%.
For the period, the company reported sales of $179,292,000 against $179,401,000 a year ago. Income from operations was $23,803,000 against $19,794,000 a year ago. Income before provision for income taxes was $23,951,000 against $19,935,000 a year ago. Net income was $15,149,000 against $12,502,000 a year ago. Diluted earnings per share were $0.75 against $0.62 a year ago. Net cash provided by operating activities was $22,635,000 against $29,528,000 a year ago. Purchase of property and equipment was $177,000 against $398,000 a year ago.
PetMed Express, Inc., doing business as PetMeds, is a direct-to-consumer pet pharmacy. The Company is an online provider of prescription and non-prescription medications, food, supplements, and supplies and has veterinary and pet insurance service partnerships for dogs, cats, and horses. It markets and sells directly to consumers through their Websites, toll-free numbers, and employer benefit partnerships. Its product line contains over 15,000 SKUs of pet medications, health products, foods, and supplies. The Company offers various pet supplies, including beds, crates, stairs and other pet supplies. Its products include Prescription Medications (Rx), Non-Prescription Medications (OTC) and supplies, Pet Foods, Private Label and Holistic Wellness Services. Rx includes heartworm and flea and ticks preventatives, arthritis, dermatitis, thyroid, diabetes, pain medications, heart/blood pressure, and other specialty medications, as well as generic substitutes.