Petmed Express, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended June 30, 2018; Provides Effective Tax Rate Guidance for the Year 2019
July 23, 2018 at 05:30 pm IST
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PetMed Express, Inc. reported unaudited consolidated earnings results for the first quarter ended June 30, 2018. For the quarter, the company reported sales were $87,390,000 compared to $79,657,000 a year ago. Income from operations was $15,757,000 compared to $14,416,000 a year ago. Income before provision for income taxes was $16,453,000 compared to $14,740,000 a year ago. Net income was $12,582,000 compared with $9,276,000 a year ago. Basic and diluted earnings per share were $0.62 compared with diluted earnings per share of $0.45 a year ago. Net cash provided by operating activities was $22,034,000 compared to $13,896,000 a year ago. Purchases of property and equipment were $306,000 compared to $43,000 a year ago.
The company expect effective tax rate in fiscal 2019 to be approximately 24%.
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, supplies and vet services for dogs, cats, and horses. It markets and sells directly to consumers through its websites, toll-free numbers, and mobile applications. Its product line contains approximately 15,000 SKUs of pet medications, health products, and supplies. The Company offers various pet supplies, including food, beds, crates, stairs and other pet supplies. PetMeds products include Non-Prescription Medications (OTC) and supplies, and Prescription Medications (Rx). OTC and supplies include flea and tick control products, bone and joint care products, vitamins, treats, nutritional supplements, hygiene products, and supplies. Rx includes heartworm and flea and tick preventatives, arthritis, dermatitis, thyroid, diabetes, pain medications, heart/blood pressure, and other specialty medications.
Petmed Express, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended June 30, 2018; Provides Effective Tax Rate Guidance for the Year 2019
PETMED EXPRESS, INC. 
