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Petmed Express fiscal Q2 profit falls 8.1% YOY

Petmed Express Inc. said its normalized net income for the fiscal second quarter ended Sept. 30 came to 19 cents per share, compared with the S&P Capital IQ consensus estimate of 22 cents per share.

EPS declined 8.6% year over year from 21 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $3.8 million, a decrease of 8.1% from $4.1 million in the prior-year period.

The normalized profit margin declined to 6.6% from 6.8% in the year-earlier period.

Total revenue declined year over year to $57.6 million from $60.5 million, and total operating expenses fell on an annual basis to $51.6 million from $53.9 million.

Reported net income fell 33.0% from the prior-year period to $2.8 million, or 14 cents per share, from $4.2 million, or 21 cents per share.