PetMed Express reveals fiscal health, warns of veterinarian competition

Washington - 3/20/07 - The nation's largest Internet pet pharmacy reports no debt, no legal woes and stock selling at $12.47 a share at press time.

PetMed Express' latest Securities and Exchange Commission filing reveals gross profits increased by approximately $2,384,000, or 18.6 percent, to total $15,173,000 during last year's fourth quarter, which ended on Dec. 31, 2007. The company made $57,523,000 during the final nine months of last year.

Roughly 585,000 new customers were acquired during the final nine months of 2007, compared to 549,000 during the same period in 2006. But when it comes to predicting the company's future progress, officials are cautious.

"There can be no assurances that this growth trend will continue, due to increased price competition from veterinarians and traditional and online retailers," the report states.