PetMed Express Q4 Profit Edges Down; But EPS Flat - Quick Facts

(RTTNews) - PetMed Express Inc. (PETS) said that net income for the fourth-quarter ended March 31, 2014 was $4.5 million or $0.23 per share, compared to net income of $4.6 million, or $0.23 per share in the same quarter of the prior year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.22 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter were $48.6 million, compared to $51.1 million last year, a decrease of 4.9%. Wall Street analysts had a consensus revenue estimate of $52.02 million for the quarter.

Menderes Akdag, President and CEO, said," Sales were negatively impacted during the quarter due to the colder-than-normal weather. Average order value was $75 for the fiscal year compared to $73 for the prior fiscal year, which was due mainly to a change in product mix to higher priced items. For fiscal 2015 we are focusing on improving our new order sales."

The Board of Directors declared a quarterly dividend of $0.17 per share on its common stock. The dividend will be payable on May 23, 2014, to shareholders of record at the close of business on May 16, 2014.