PetMed Express Q4 Profit Down; Stock Plunges

(RTTNews) - PetMed Express Inc. (PETS) reported that its fourth quarter net income declined to $6.6 million or $0.32 per share, from $10.2 million or $0.50 per share last year.

In Monday pre-market trade, PETS is trading at $18.35, down $3.35 or 15.44 percent.

Net sales for the quarter were $64.6 million, a decrease of 4.1% from $67.3 million in the previous year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.46 per share and revenues of $69.06 million for the quarter. Analysts' estimates typically exclude special items.

The company declared a quarterly dividend of $0.27 per share on its common stock. The dividend will be payable on May 24, 2019, to shareholders of record at the close of business on May 17, 2019.