PetMeds Express announced it’s quarterly earnings today for the quarter ended June 30, 2011, and they were mostly slightly down except new orders and customers.
Net sales were $73.6 million for the quarter, which was down just $.8 million from the previous quarter. Their net income dropped $.10 per diluted share from $.32 to $.22.
The exciting number for PetMeds Express was the increase in new customers. PetMeds Express had 226,000 new customers for the quarter, displaying a very solid increase in reach. This is 6,000 more new customers than the 220,000 new customers that they had in the previous quarter.
PetMeds also had a nice 3.4% increase in their online sales ($54.1 million). The CEO stated that the slight dip in earnings was: “due to our more aggressive flea & tick product pricing, we had a slight increase in orders, which was a positive.”
PetMeds also bought back over 1 million of their shares (common stock) during the quarter at an average of $12.67 per share.
The 15 year old company, PetMeds, is still America’s largest pet pharmacy.
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