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Petmed Express fiscal Q1 profit climbs 5.3% YOY

Petmed Express Inc. said its normalized net income for the fiscal first quarter ended June 30 came to 25 cents per share, compared with the S&P Capital IQ consensus estimate of 25 cents per share.

EPS increased year over year from 24 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $5.0 million, a gain of 5.3% from $4.7 million in the year-earlier period.

The normalized profit margin increased to 6.8% from 6.4% in the year-earlier period.

Total revenue fell on an annual basis to $72.5 million from $74.2 million, and total operating expenses decreased year over year to $64.7 million from $66.7 million.

Reported net income increased from the prior-year period to $5.0 million, or 25 cents per share, from $4.8 million, or 24 cents per share.