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Mar 31, 2020
PetMed Express Q4 2020 Earnings Report
PetMed Express's financial results for the fourth fiscal quarter and year ended March 31, 2020, were reviewed, revealing increased sales and earnings per share.
Key Takeaways
PetMed Express reported a 15% increase in sales for the fourth fiscal quarter ended March 31, 2020, with net income rising to $7.0 million, or $0.35 diluted per share. The increase in sales was attributed to higher reorder and new order sales, driven by increased demand for e-commerce and the start of the peak season. The company acquired approximately 107,000 new customers during the quarter.
Sales for the fourth fiscal quarter increased by 15% to $74.3 million compared to $64.6 million in the same period last year.
Net income for the quarter was $7.0 million, or $0.35 diluted per share, compared to $6.6 million, or $0.32 diluted per share, for the same quarter a year ago.
Reorder sales increased by 17% to $65.2 million, while new order sales increased by 5% to $9.1 million.
The company acquired approximately 107,000 new customers in the fourth fiscal quarter, compared to 101,000 in the same period last year.