PetMed Express, Inc. (PETS), the America ’s largest Pet Pharmacy, recently reported second-quarter 2010 results. The quarterly earnings of 28 cents a share came in line with the Zacks Consensus Estimate but rose 12% year-on-year from 25 cents posted in the prior-year quarter.

Net sales climbed 5% to $62.4 million during the quarter. Reorder sales jumped 11% to $45.8 million, whereas new order sales fell 8% to $16.7 million, as the new customer additions fell 3% to 233,000 due to lower advertising spending (down 10% to $7.8 million). However, the cost to acquire a new customer fell 8% to $33 from $36 in the year-ago quarter.

PetMed also notified that the average order size for the quarter fell to $78 from $81 in the prior-year quarter due to customers purchasing smaller quantities of products.

Gross profit increased 4% driven by increase in net sales, partially offset by rise in cost of sales (up 6%). Total operating expenses fell 4% to $13.9 million due to decline in advertising expenses, partially offset by rise in general and administrative costs and increase in depreciation and amortization expenses. Operating income increased 17% to $9.8 million.

The company ended the quarter with cash and cash equivalents of $56.2 million, and shareholders’ equity of $88.4 million.

PetMed delivers prescription and non-prescription pet medications, and other health products for dogs, cats, and horses direct to the consumer at a compelling price through its toll free number and website.

Zacks Investment Research
View original at: Zacks.com News Feed

1. (LUB) Luby’s In-Line with Consensus EstimatesLuby’s, Inc. (LUB), the casual dining restaurant operator, recently reported fourth-quarter 2009 results. The company...
2. (PETS) PetMed Express, Inc. – Momentum – Zacks Rank BuyPetMed Express, Inc. (PETS), which sells prescription and non-prescription pet medications and health products for...
3. (PETS) PetMed Express – 25% higher than the consensus estimatePetMed Express (PETS) estimates are rising as the company approaches its next earning announcement. Shares...
4. (PETS) – Petmed Express – fourth time in the last four quarters that Petmed has surprised and beaten analyst estimatesPetmed Express, Inc. (PETS) shares are trading down from their 2008 high, but still remain...
5. (PETS) – Petmed Express – fourth time in the last four quarters that Petmed has surprised and beaten analyst estimatesPetmed Express, Inc. (PETS) shares are trading down from their 2008 high, but still remain...
6. (PETS) – Petmed Express – fourth time in the last four quarters that Petmed has surprised and beaten analyst estimatesPetmed Express, Inc. (PETS) shares are trading down from their 2008 high, but still remain...

Search Posts by Tag: PetMed Express Inc. | PETS | Drug Delivery | Healthcare

RSS Feeds by Tag: PetMed Express Inc. | PETS | Drug Delivery | Healthcare |

Other Posts by: vitalstocks | RSS Feed for this author