PetMed Express Inc. (NASDAQ: (PETS) stock gained by 3.44% at the last close whereas the PETS stock price declined by 5% in the pre-market trading session after the company has reported its financial results for the second quarter of fiscal 2021. PetMed Express, often known as 1-800-PetMeds, is a United States-based online pet pharmacy. It is a publicly listed company that provides both prescription and over-the-counter pet medications.
PETS stock’ Financial Highlights
PetMed Express announced financial outcomes for the second fiscal quarter. The highlights are given below:
- The company reported net sales for the second fiscal quarter of 2021, as $67.4 million whereas it was $75.4 million for the second quarter of 2020. This is a decline of 10.7%.
- The Average order size has increased to $97 in fiscal second-quarter 2021 from $87 in fiscal Q2 of 2020.
- The company has generated a net income of $6.3 million or $0.31 diluted per share for the second quarter fiscal 2021 relative to net income of $8.4 million or $0.42 diluted per share for the previous year’s same quarter.
PetMeds has been a leader in the field of pet health and wellbeing for over 25 years, according to Matt Hulett, CEO, and President. It’s time for them to make the move in extending their business beyond the $10 billion pet pharmaceutical industry and into the considerably bigger $107 billion overall pet care market.
Furthermore,
PETS Board of Directors has announced a $0.30 per share quarterly dividend on the Company’s common stock. The dividend will be paid on November 19, 2021, to shareholders who were registered on November 8, 2021, at the conclusion of business. The Company expects to pay regular quarterly dividends down the road, however, the announcement and payment of future dividends will be at the discretion of the Board of Directors, who will make a decision each quarter after reviewing the Company’s financial performance.
