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PetMed Express 3Q revenue misses Street's view

January 21, 2014

POMPANO BEACH, Fla. (AP) PetMed Express Inc. said Tuesday that its third-quarter net income was nearly flat as operating expenses declined. Revenue improved on higher reorder and online sales but missed analysts' estimates. The company's shares fell 5 percent in afternoon trading. PetMed, which does business as 1-800- PetMeds , earned $4.5 million , or 23 cents per share, for the three months ended Dec. 31 . That compares with $4.6 million , or 23 cents per share, a year earlier. That met the expectations of analysts polled by FactSet. Total operating expenses dipped to $9.8 million from $10 million . Revenue for the Pompano Beach, Fla. company rose 1 percent to $50.1 million from $49.6 million , but fell short of the $51.7 million Wall Street forecast. The average order size increased to $72 from $71 in the prior-year period. Reorder sales climbed 3.6 percent to $42.4 million , while online sales increased 2.1 percent to $39.5 million . Shares of PetMed were off 77 cents to $14.50 .

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Source: Associated Press

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