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Petmed Express fiscal Q1 profit climbs 15.0% YOY

PetMed Express, Inc. said its normalized net income for the fiscal first quarter ended June 30 came to 28 cents per share, compared with the S&P Capital IQ consensus estimate of 27 cents per share.

EPS rose 14.4% year over year from 25 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $5.7 million, an increase of 15.0% from $5.0 million in the year-earlier period.

The normalized profit margin increased to 8.0% from 6.8% in the year-earlier period.

Total revenue decreased year over year to $71.6 million from $72.5 million, and total operating expenses decreased from the prior-year period to $62.5 million from $64.7 million.

Reported net income grew 16.6% on an annual basis to $5.9 million, or 29 cents per share, from $5.0 million, or 25 cents per share.