Fourth quarter
The fourth quarter, with the exception of data publishing, was influenced by the same factors as the year as a whole as:
-- 538,598 intakes (animals entering the welfare organisations) and 263,196 adoptions were completed through PetPoint, an increase in intakes of 1% and adoptions of 6%;-- The Company sold, in aggregate, 382,000 RFID microchips in the United States, Canada and the United Kingdom, a 16% increase. Revenue from microchip sales increased 18% to $2.3 million. As a percentage of total non-insurance revenue, microchip revenue fell to 63% from 68%. The sale of ancillary products and services to the 24PetWatch database of pet owners accounted for $702,000 in revenue, a 32% increase;-- According to comScore.com, Petango.com attracted more than 2.79 million unique visitors and generated 44 million page views;-- Sales via thepetangostore.com totalled $477,000, an 84% increase.
Normal Course Issuer Bid
On September 20, 2012, the Company's Board of Directors announced its intention to make a Normal Course Issuer Bid to repurchase up to 1,669,000 of its common shares. Repurchases commenced on November 08, 2012 and will terminate no later than September 23, 2013.
The Company appointed Industrial Alliance Securities Inc. to purchase the shares on its behalf. As at December 31, 2012, 232,000 common shares had been repurchased at an average price of approximately $0.82 per common share, for an aggregate of $192,000 in cash.
Conference call
The Company is hosting an investor conference call on Thursday, March 7, 2013, at 10:30AM (EST) which can be accessed at 1-800-355-4959 or on-line at www.pethealthinc.com. For those unable to participate, a replay of the call will be available shortly after the call concludes on the Company's website at www.pethealthinc.com.
About Pethealth
For detailed financial statements for the year and quarter ended December 31, 2012, including Management's Discussion and Analysis, please refer to the Company's website or SEDAR at www.sedar.com after March 6, 2012.
Pethealth is North America's second largest provider of medical insurance for dogs and cats to pet owners, operating in the United States, Canada and the United Kingdom. In addition, the Company is the leading provider of management software to North American animal welfare organisations through its SaaS-based application and is the leading provider of pet related database management services to the North American companion animal industry. Pethealth offers a unique range of products and services for veterinarians, shelters and pet owners through a number of wholly owned subsidiaries using a range of brand names including PetCare, 24PetWatch, Pet Protect, Petpals Direct, ShelterCare, PetPoint, Petango.com and ThePetangoStore.com.
Pethealth is based in Oakville, Ontario. To find out more about Pethealth, visit the web site at www.pethealthinc.com.
Forward-Looking Statements
This press release contains information that is forward-looking information within the meaning of applicable securities laws. In some cases, forward-looking information can be identified by the use of terms such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "potential", "continue" or the negative of these terms or other similar expressions concerning matters that are not historical facts.
Forward-looking information by its nature necessarily involves risks and uncertainties including, without limitation, the difficulty of predicting the current regulatory and supervisory environment, the timing and conditions to obtaining any regulatory approval, reliance on insurance underwriters for pet insurance policies, market acceptance and demand for existing and new products and services, including PetPoint and EVE Software and the 24PetWatch microchip program, the Company's ability to maintain and service new and existing customers, the protection of intellectual property associated with its products and services, the impact of competition generally and new competitive products, currency and foreign exchange fluctuations, risks associated with the Company's customer care solutions facility, and related risks and uncertainties. Additional risks and uncertainties affecting the Company can be found in the Company's Annual Information Form available on SEDAR at www.sedar.com. If any of these risks or uncertainties were to materialize or if the factors and assumptions underlying the forward-looking information were to prove incorrect, actual results could vary materially from those that are expressed or implied by the forward-looking information contained herein. The Company disclaims any intention or obligation, other than those required by security laws, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts:
Investor Relations Contacts:
Pethealth Inc.
Mark Warren
President and Chief Executive Officer
(905) 842-2615
Pethealth Inc.
Glen Tennison
Chief Financial Officer
(905) 842-2615
www.pethealthinc.com
