Business
PetMeds® Announces Its Second Quarter Financial Results and Declares a Quarterly Dividend of $0.30 Per Share
DELRAY BEACH, Fla., Nov. 07, 2022 (GLOBE NEWSWIRE) -- PetMed Express, Inc. (NASDAQ: PETS), Your Trusted Pet Health ExpertTM, today announced its financial
About this update from Petmed Express, Inc.
[{"type":"text","content":"DELRAY BEACH, Fla., Nov. 07, 2022 (GLOBE NEWSWIRE) -- PetMed Express, Inc. (NASDAQ: PETS), Your Trusted Pet Health ExpertTM, today announced its financial results for its second quarter ended September 30, 2022. Quarterly Highlights Net sales for the quarter ended September 30, 2022, were $65.4 million, compared to $67.4 million for second quarter in the prior year, a decrease of 3.0%. Net income for the quarter ended September 30, 2022 was $2.6 million, or $0.13 diluted earnings per share, and includes $1.3 million, or $0.05, per diluted share for two items not indicative of our ongoing operations. This compares to net income of $6.3 million, or $0.31 diluted earnings per share, for the prior year quarter ended September 30, 2021. Adjusted EBITDA1 was $7.1 million, for the current year quarter, compared to Adjusted EBITDA of $9.8 million, for the quarter ended September 30, 2021, a decrease of (28)%. “We were pleased to see revenue begin to stabilize this quarter after multiple quarters of decline,\" said Matt Hulett, CEO and President. \"This mainly reflects the continued growth of our AutoShip & Save subscription sales, which increased to 39% of our total sales for the quarter from 34% for the prior quarter.” The Board of Directors declared a quarterly dividend of $0.30 per share on the Company’s common stock. The dividend will be payable on November 30, 2022, to shareholders of record at the close of business on November 18, 2022. The declaration and payment of future dividends is discretionary and will be subject to the determination by the Board of Directors. This afternoon the Company will host a conference call to review the quarter’s financial results. Time: 4:30 P.M. Eastern Time, November 7, 2022Public call dial in (877) 407-0789 (toll free) or (201) 689-8562. Webcast stream link: https://www.1800petmeds.com/investor.html for those who wish to stream the call via webcast. Replay: Available until November 21, 2022, at 11:59 P.M Eastern Time. To access the replay, call (844) 512-2921 (toll free) or (412) 317-6671 and enter passcode 13733883. Founded in 1996, PetMeds is Your Trusted Pet Health Expert™, delivering prescription and non-prescription pet medications and other health products for dogs, cats, and horses at competitive prices direct to the consumer through its 1-800-PetMeds toll free number and through its webs...