PetMed Express Posts Flat Q3 EPS - Quick Facts

(RTTNews) - Pet pharmacy retailer PetMed Express Inc. (PETS) reported third-quarter net income of $4.54 million, or $0.23 per share, versus $4.6 million, or the same $0.23 per share, in the 2012 period. On average, 7 analysts polled by Thomson Reuters expected earnings per share of $0.23 for the quarter. Analysts' estimates typically exclude one-time items.

The Pompano Beach, Florida-based company posted quarterly net sales of $50.1 million, compared with $49.61 million last year, while 5 analysts estimated revenues of $52.06 million for the quarter.

Menderes Akdag, CEO and President, said: "We are pleased with the increased reorder sales for the quarter. Our sales increase for the quarter was also highlighted by an increased average order size - $72 for the quarter ended December 31, 2013 compared to $71 for the same quarter in the prior year. For the quarter ended December 31, 2013 our operating expenses decreased by 50 basis points. Going forward we are focusing on improving our gross profit margins and new order sales."