PetMed Express (PETS) Tops Q3 EPS by 3c

PetMed Express (NASDAQ: PETS) reported Q3 EPS of $0.24, $0.03 better than the analyst estimate of $0.21. Revenue for the quarter came in at $49.3 million versus the consensus estimate of $49.34 million.

The Company's online sales for the quarter ended December 31, 2014 were approximately 80% of all sales, compared to 79% for the same quarter the prior year.

Menderes Akdag, President and CEO, commented: "During the quarter we were able to increase gross profit margins and average order size. For the quarter ended December 31, 2014 our gross margins increased 98 basis points, which can be attributed to a shift in sales to higher margin items. Our average order size increased to $76 for the December quarter, compared to $72 for the same period in the prior year. For the quarter ended December 31, 2014, our operational expenses decreased by 51 basis points, mainly due to a reduction in advertising spending. Cash flow from operations was $29.5 million for the quarter ended December 31, 2014, compared to $17.7 million for the quarter ended December 31, 2013. For the remainder of Fiscal 2015 we are focusing on improving our marketing efforts to increase sales."

For earnings history and earnings-related data on PetMed Express (PETS) click here.

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