PetMed Express (PETS) Tops Q2 EPS by 13c

PetMed Express (NASDAQ: PETS) reported Q2 EPS of $0.43, $0.13 better than the analyst estimate of $0.30. Revenue for the quarter came in at $66.7 million versus the consensus estimate of $63.36 million.

Menderes Akdag, CEO and President, commented: “The trend we have seen in the last two quarters continued with increases in both new order and reorder sales during the quarter, along with an accelerated increase to net income for the third consecutive quarter. This increase to net income can be attributed to increased revenue with a shift in sales to higher margin items in the flea, tick and heartworm categories. Gross profit as a percentage of sales increased to 35.2% for the quarter ended September 30, 2017, compared to 29.7% for the quarter ended September 30, 2016. Also, an income tax benefit of approximately $807,000 related to stock-based compensation was recognized in the quarter ended September 30, 2017. Average order value increased to $85 for the quarter compared to $82 for the same quarter the prior year. For the remainder of fiscal 2018 we will continue to focus on increasing sales and improving our service levels.”

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

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