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PETMED EXPRESS ANNOUNCES RECORD SALES AND PROFITABLE SECOND QUARTER FINANCIAL RESULTS
Pompano Beach, Florida, November 13, 2001 - PetMed Express, Inc. (OTCBB: PETS) today announced results for the second quarter ended September 30, 2001. Mendo Akdag, CEO, announced net income for the second quarter of $393,000 or $.024 per share, compared to a loss of $.047 per share for the second quarter of 2000, and net sales for the second quarter ended September 30, 2001 were $7.8 million, compared to $2.7 million for the second quarter ended September 30, 2000, an increase of 191%. PetMed Express also reported new customer growth of approximately 75,000 new customers, of which 40% of those new customers ordered through our website at www.1888PetMeds.com, in the second quarter ended September 30, 2001.
Mendo Akdag, CEO, announced, "We are very excited with the continued increase in sales this quarter. The business model is running smoothly, and we will continue to move forward with our growth plan and invest heavily in advertising to acquire new customers."
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.1888PetMeds.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 of Results of Financial Condition and Results of Operations in PetMed Express's Annual Report on Form 10K for the year ended March 31, 2001.
For investment relations contact PetMed Express, Inc., Pompano Beach, Mendo Akdag, CEO, 954-979-5995.