-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, G+fvDTPRxe7VLveL02iQbD2pkKJSwD2e2VA+Dxa9Qxb84ttxGOQ7s8aNwd2egGA2 siW+930X4btWkKkaETrQOA== 0000943440-03-000418.txt : 20030728 0000943440-03-000418.hdr.sgml : 20030728 20030728144434 ACCESSION NUMBER: 0000943440-03-000418 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030728 ITEM INFORMATION: Financial statements and exhibits ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20030728 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PETMED EXPRESS INC CENTRAL INDEX KEY: 0001040130 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-MISCELLANEOUS NONDURABLE GOODS [5190] IRS NUMBER: 650680967 STATE OF INCORPORATION: FL FISCAL YEAR END: 0330 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-28827 FILM NUMBER: 03805883 BUSINESS ADDRESS: STREET 1: 1441 SW 29 AVENUE CITY: POMPANO BEACH STATE: FL ZIP: 33069 BUSINESS PHONE: 9549794788 MAIL ADDRESS: STREET 1: 1441 SW 29 AVENUE CITY: POMPANO BEACH STATE: FL ZIP: 33069 8-K 1 july28-fm8k.txt ========================================================================== UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): July 28, 2003 --------------- PETMED EXPRESS, INC. ------------------------------------------------------ (Exact name of registrant as specified in its charter) Commission file number 000-28827 ----------- FLORIDA 65-0680967 - --------------------------------- ------------------- (State or other jurisdiction (IRS Employer of incorporation or organization) Identification No.) 1441 S.W. 29th Avenue, Pompano Beach, Florida 33069 - --------------------------------------------- ---------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (954) 979-5995 ---------------- Not Applicable ------------------------------------------------------------- (Former name or former address, if changed since last report) Item 7. Financial Statements and Exhibits (c) Exhibits Exhibit No. Description - ----------- ----------- 99.1 Press Release issued by PetMed Express, Inc. on July 28, 2003 Item 9. Regulation FD Disclosure. On July 28, 2003, PetMed Express, Inc. issued a press release reporting its results for quarter ended June 30, 2003. A copy of this news release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. The information furnished in this Item 9, intended to be furnished under Item 12, is instead furnished under Item 9 in accordance with SEC Release 33-8216. This information shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act") nor shall such information be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing. Item 12. Results of Operations and Financial Condition. See Item 9. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. PETMED EXPRESS, INC. (The "Registrant") Date: July 28, 2003 By: ___/s/ Menderes Akdag__________ Menderes Akdag Chief Executive Officer (principal executive officer) By: ___/s/ Bruce S. Rosenbloom_____ Bruce S. Rosenbloom Chief Financial Officer (principal financial and accounting officer) EXHIBIT INDEX ------------- Exhibit No. Description - ----------- ----------- 99.1 Press Release issued by PetMed Express on July 28, 2003 EX-99.1 3 july28fm8k-ex99.txt EXHIBIT 99.1 Date: July 28, 2003 Contact: Mendo Akdag, CEO Phone: (954) 979-5995 Fax: (954) 971-0544 PETMED EXPRESS D/B/A 1-800-PETMEDS ANNOUNCES FIRST QUARTER FINANCIAL RESULTS - RECORD SALES OF $30.4 MILLION Pompano Beach, Florida, July 28, 2003 - PetMed Express, Inc. (OTCBB: PETS) today announced results for the quarter ended June 30, 2003. Net sales for the three months ended June 30, 2003 were $30.4 million, compared to $14.8 million for the three months ended June 30, 2002, an increase of 105%. Net income was $1,433,000, or $.08 per share, $.06 diluted per share, for the quarter, compared to net income of $902,000 or $.05 per share, $.04 diluted per share, for same quarter in fiscal 2003, an increase of 59%. Mendo Akdag, CEO, commented: "We are very pleased with our first quarter results during our peak season. In addition to the sharp increase in sales and profits for the quarter, our reorder sales increased 117%, from $5.8 million to $12.5 million for the three months ended June 30, 2002 and 2003, respectively. We also reported new customer growth of approximately 234,000 customers for the quarter, and approximately 49% of all orders were placed on our website for the quarter in comparison to 39% for the same period prior year." On Tuesday, August 12, 2003 at 5 p.m. Eastern Daylight Time, Mr. Akdag, CEO, will host a conference call to review the first quarter financial results of fiscal 2004. The associated quarterly filing will be issued before the market opens on August 11, 2003. To access the call, which is open to the public, call (888) 395- 1810 (toll free) 15 minutes prior to the scheduled start time. Callers will be required to supply EARNINGS as the passcode. Callers will be placed on hold with music until the call begins. If you are unable to participate in the live event, the call will be available for replay from 8 p.m. on August 12 until August 27 at 11:59 p.m. To access the replay, call (800) 925-4890 (toll free), and enter passcode 5500. Founded in 1996, PetMed Express is America's largest pet pharmacy, delivering prescription and non-prescription pet medications, health and nutritional supplements at competitive prices through the PetMed Express catalog, customer service representatives, and on the Internet through its website at www.1800PetMeds.com. - ------------------- This press release may contain "forward-looking" statements, as defined in the Private Securities Litigation Reform Act of 1995 or by the Securities and Exchange Commission, that involve a number of risk and uncertainties, including the Company's ability to meet the objectives included in its business plan. Important factors that could cause results to differ materially from those indicated by such "forward-looking" statements are set forth in Management's Discussion and Analysis or Plan of Operations in the PetMed Express Annual Report on Form 10-KSB for the year ended March 31, 2003. For investment relations contact PetMed Express, Inc., Pompano Beach, Mendo Akdag, CEO, 954-979-5995. ### 99.1 page 1 - 2 PETMED EXPRESS, INC. AND SUBSIDIARIES FINANCIAL HIGHLIGHTS CONDENSED CONSOLIDATED STATEMENTS OF INCOME
Three Months Ended June 30, 2003 2002 ------------- ------------- Sales $ 30,387,563 $ 14,830,755 Cost of sales 18,582,680 8,568,253 ------------- ------------- Gross profit 11,804,883 6,262,502 ------------- ------------- Operating expenses: General and administrative 3,021,254 2,083,423 Advertising 6,508,990 2,807,180 Depreciation and amortization 127,351 80,664 ------------- ------------- Total operating expenses 9,657,595 4,971,267 ------------- ------------- Income from operations 2,147,288 1,291,235 ------------- ------------- Other income (expense): Interest expense (2,681) (5,590) Interest income 2,149 4,133 Other, net 608 2,335 ------------- ------------- Total other income (expense) 76 878 ------------- ------------- Income before provision for income taxes 2,147,364 1,292,113 Provision for income taxes 714,780 389,784 ------------- ------------- Net income $ 1,432,584 $ 902,329 ============= ============= Net income per common share: Basic $ 0.08 $ 0.05 ============= ============= Diluted 0.06 0.04 ============= ============= Weighted average number of common shares outstanding: Basic 19,010,438 16,590,779 ============= ============= Diluted 23,012,611 20,092,544 ============= =============
BALANCE SHEET DATA June 30, March 31, 2003 2003 ------------- ------------- (Unaudited) Working capital $ 5,564,699 $ 3,017,641 Total assets 12,831,377 9,025,796 Total liabilities 4,620,302 3,433,108 Total shareholders' equity 8,211,075 5,592,688
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