Petmed Express Inc (PETS) Stock Skyrockets on Stellar Q2 Earnings

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Petmed Express Inc (NASDAQ:PETS) shares were skyrocketing on the company’s impressive second-quarter earnings.

Petmed Express Inc (PETS)For the period, the online pet pharmacy owner said its quarterly profit came in at $8.76 million, or 43 cents per share, which is considerably higher than the $4.98 million, or 24 cents per share Petmed Express posted in the year-ago’s second quarter.

Anaysts were calling for earnings of 30 cents per share, according to data compiled by Thomson Reuters. The figure excluded special items. Revenue for the quarter was also higher at $66.71 million.

A year ago, Petmed Express reported sales of $60.79 million, which marks a 9.7% surge year-over-year. The Wall Street consensus estimate for revenue was $63 million.

The company — which has been around since 1996 — conducts its business through 1-800-PetMeds. Petmed Express said the average order value increased to $85 for the quarter, a $3 increase compared to the year-ago period.

“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,” said Menderes Akdag, Petmed CEO, in prepared remarks.

The company’s online sales for the quarter amounted to roughly 84% of all sales, which is also a bump compared to the 82% of all sales garnered online in the year-ago quarter. Online sales were 12% higher this period, Petmed Express added.

PETS stock surged 19.7% Monday.


Article printed from InvestorPlace Media, https://investorplace.com/2017/10/petmed-express-inc-pets/.

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