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Petmed Express fiscal Q4 profit climbs 9.4% YOY

Petmed Express Inc. said its normalized net income for the fiscal fourth quarter ended March 31 came to 24 cents per share, compared with the S&P Capital IQ consensus estimate of 26 cents per share.

EPS increased 8.9% year over year from 22 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $4.9 million, an increase of 9.4% from $4.5 million in the year-earlier period.

The normalized profit margin rose to 9.9% from 9.2% in the year-earlier period.

Total revenue increased year over year to $50.0 million from $48.6 million, and total operating expenses rose year over year to $42.2 million from $41.5 million.

Reported net income increased 9.2% on an annual basis to $5.0 million, or 25 cents per share, from $4.6 million, or 23 cents per share.

For the year, the company's normalized net income totaled 92 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 92 cents.

EPS rose from 89 cents in the prior year.

Normalized net income was $18.5 million, a gain from $17.7 million in the prior year.

Full-year total revenue decreased on an annual basis to $229.4 million from $233.4 million, and total operating expenses declined on an annual basis to $200.0 million from $205.2 million.

The company said reported net income fell year over year to $17.5 million, or 87 cents per share, in the full year, from $18.0 million, or 90 cents per share.