PetMed Express (Nasdaq:PETS) is a leading nationwide pet pharmacy, operating the 1-800-PetMeds direct mail and Internet businesses. The company markets prescription and non-prescription pet medications. PetMed Express sells both generic products and well- known brands of medication, such as Frontline(R), Advantage(R), and Heartgard(R), at prices that generally are discounted up to 25% from the prices charged by veterinarians. PetMed Express boasts more than 1.1 million customers as of September
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PetMed Express (Nasdaq:PETS) is a leading nationwide pet pharmacy, operating the 1-800-PetMeds direct mail and Internet businesses. The company markets prescription and non-prescription pet medications. PetMed Express sells both generic products and well- known brands of medication, such as Frontline(R), Advantage(R), and Heartgard(R), at prices that generally are discounted up to 25% from the prices charged by veterinarians. PetMed Express boasts more than 1.1 million customers as of September 30, 2003.
For the quarter ended September 30, 2003, PetMed Express reported earnings of $0.08 per share, $0.07 better than the $0.01 earned in the prior year. Revenues increased 76% to $25.0 million compared to $14.2 million reported last year. Results in the quarter benefited from new customer growth of 160,000 during the quarter and an increase in the percentage of orders received on the company's web site to 49% from 40% a year ago.
PetMed Express reached an all-time high on November 3, 2003 and has modestly retreated since. Of the approximately 6.2 million shares in float, 98,272 trade daily. Banks and mutual funds own 8% and management owns another 68% of the shares outstanding. The company has a relative strength of 87.
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