Petmed Express, Inc. (PETS) Tops Q4 EPS by 1c

Petmed Express, Inc. (NASDAQ: PETS) reported Q4 EPS of $0.23, $0.01 better than the analyst estimate of $0.22. Revenue for the quarter came in at $48.6 million versus the consensus estimate of $55.02 million.

Menderes Akdag, President and CEO, commented: "We were able to increase our gross margins for the quarter and decrease our operational expenses to improve our bottom line results for the fiscal year. For the quarter ended March 31, 2014 our gross profit increased 24 basis points, which can be attributed to a cost reduction in certain brands. For the fiscal year ended March 31, 2014 our operating expenses decreased by 83 basis points, mainly due to a reduction in advertising spending and the leveraging of our general and administrative expenses. 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."

For earnings history and earnings-related data on Petmed Express, Inc. (PETS) click here.

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