-----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, QGTjNNHqJn2gcZQyfqTMGBuU7Rw4+eASDL/yWzUM1uKw8qoZ0dxCccPRczVJXMld SZzs2nXl2h5EUFrCaaoSCQ== 0001157523-04-006884.txt : 20040728 0001157523-04-006884.hdr.sgml : 20040728 20040727120243 ACCESSION NUMBER: 0001157523-04-006884 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040726 ITEM INFORMATION: ITEM INFORMATION: Financial statements and exhibits ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20040727 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PETMED EXPRESS INC CENTRAL INDEX KEY: 0001040130 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-DRUG STORES AND PROPRIETARY STORES [5912] 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: 04932730 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 a4689115.txt PETMED EXPRESS 8-K ================================================================================ 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 26, 2004 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 26, 2004 Item 9. Regulation FD Disclosure. On July 26, 2004, PetMed Express, Inc. issued a press release reporting its results for the quarter ended June 30, 2004. 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 27, 2004 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 26, 2004 EX-99.1 2 a4689115ex99.txt EXHIBIT 99.1 PRESS RELEASE Exhibit 99.1 PetMed Express d/b/a 1-800-PetMeds Announces First Quarter Financial Results - Record Sales of $35.3 Million POMPANO BEACH, Fla.--(BUSINESS WIRE)--July 26, 2004--PetMed Express, Inc. (NASDAQ:PETS) today announced results for the quarter ended June 30, 2004. Net sales for the three months ended June 30, 2004 were $35.3 million, compared to $30.4 million for the three months ended June 30, 2003, an increase of 16%. Net income was $1.8 million, or $.08 diluted per share, for the quarter, compared to net income of $1.4 million or $.06 diluted per share, for same quarter in the prior year, an increase of 27%. Mendo Akdag, CEO, commented: "We are pleased with our first quarter results. In addition to the increase in sales and profits for the quarter, our reorder sales increased 60%, from $12.5 million to $19.9 million for the three months ended June 30, 2003 and 2004, respectively. We also acquired approximately 191,000 new customers in the quarter, and approximately 52% of all orders were placed on our website for the quarter." Founded in 1996, PetMed Express is America's largest pet pharmacy, delivering prescription and non-prescription pet medications and health and nutritional supplements for dogs and cats at competitive prices direct to the consumer through its 1-800-PetMeds toll free number and on the Internet through its website at http://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 risks 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 of Financial Condition and Results of Operations in the PetMed Express Annual Report on Form 10-K for the year ended March 31, 2004. For investment relations contact PetMed Express, Inc., Pompano Beach, Bruce S. Rosenbloom, CFO, 954-979-5995. PETMED EXPRESS, INC. AND SUBSIDIARIES FINANCIAL HIGHLIGHTS CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) Three Months Ended June 30, 2004 2003 ----------- ----------- Sales $35,288,528 $30,387,563 Cost of sales 21,426,719 18,582,680 ----------- ----------- Gross profit 13,861,809 11,804,883 ----------- ----------- Operating expenses: General and administrative 3,221,905 3,021,254 Advertising 7,754,829 6,508,990 Depreciation and amortization 159,059 127,351 ----------- ----------- Total operating expenses 11,135,793 9,657,595 ----------- ----------- Income from operations 2,726,016 2,147,288 ----------- ----------- Other income (expense) Interest expense (742) (2,681) Interest income 4,633 2,149 Other, net (410) 608 ----------- ----------- Total other income (expense) 3,481 76 ----------- ----------- Income before provision for income taxes 2,729,497 2,147,364 Provision for income taxes 911,359 714,780 ----------- ----------- Net Income 1,818,138 1,432,584 =========== =========== Net income per common share: Basic $ 0.08 $ 0.08 =========== =========== Dilutive $ 0.08 $ 0.06 =========== =========== Weighted average number of common shares outstanding: Basic 22,017,221 19,010,438 =========== =========== Dilutive 23,882,936 23,012,611 =========== =========== BALANCE SHEET DATA June 30, March 31, 2004 2004 ----------- ----------- (Unaudited) Working capital $13,515,136 $11,338,004 Total assets 23,189,644 18,480,808 Total liabilities 7,117,507 4,486,299 Total shareholders' equity 16,072,137 13,994,509 CONTACT: PetMed Express, Inc., Pompano Beach Bruce S. Rosenbloom, CFO, 954-979-5995 Fax: 954-971-0544 -----END PRIVACY-ENHANCED MESSAGE-----