PetMed Express, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2023
May 22, 2023 at 04:01 pm EDT
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PetMed Express, Inc. reported earnings results for the fourth quarter and full year ended March 31, 2023. For the fourth quarter, the company reported sales was USD 62.41 million compared to USD 66 million a year ago. Net loss was USD 5.1 million compared to net income of USD 6.07 million a year ago. Basic loss per share from continuing operations was USD 0.25 compared to basic earnings per share from continuing operations of USD 0.3 a year ago. Diluted loss per share from continuing operations was USD 0.25 compared to diluted earnings per share from continuing operations of USD 0.3 a year ago.
For the full year, sales was USD 256.86 million compared to USD 273.42 million a year ago. Net income was USD 0.233 million compared to USD 21.1 million a year ago. Basic earnings per share from continuing operations was USD 0.01 compared to USD 1.05 a year ago. Diluted earnings per share from continuing operations was USD 0.01 compared to USD 1.04 a year ago.
PetMed Express, Inc., doing business as PetMeds, is a direct-to-consumer pet pharmacy. The Company is an online provider of prescription and non-prescription medications, food, supplements, and supplies and has veterinary and pet insurance service partnerships for dogs, cats, and horses. It markets and sells directly to consumers through their Websites, toll-free numbers, and employer benefit partnerships. Its product line contains over 15,000 SKUs of pet medications, health products, foods, and supplies. The Company offers various pet supplies, including beds, crates, stairs and other pet supplies. Its products include Prescription Medications (Rx), Non-Prescription Medications (OTC) and supplies, Pet Foods, Private Label and Holistic Wellness Services. Rx includes heartworm and flea and ticks preventatives, arthritis, dermatitis, thyroid, diabetes, pain medications, heart/blood pressure, and other specialty medications, as well as generic substitutes.