DELRAY BEACH, Fla., Jan. 24, 2022 (GLOBE NEWSWIRE) -- PetMed Express, Inc. (NASDAQ: PETS) today announced its financial results for the quarter ended December 31, 2021. Net sales for the quarter ended December 31, 2021, were $60.7 million, compared to $65.9 million for the quarter ended December 31, 2020, a decrease of 7.9%. Net sales for the nine months ended December 31, 2021, were $207.4 million, compared to $237.5 million for the nine months ended December 31, 2020, a decrease of 12.7%. Net income was $4.3 million, or $0.21 diluted per share, for the quarter ended December 31, 2021, compared to net income of $7.6 million, or $0.38 diluted per share, for the quarter ended December 31, 2020, a 44% decrease to net income. Net income was $15.0 million, or $0.74 diluted per share, for the nine months ended December 31, 2021, compared to net income of $23.8 million, or $1.18 diluted per share, for the nine months ended December 31, 2020, a 37% decrease to net income. Adjusted EBITDA (1) was $7.6 million, or $0.37 diluted per share, for the quarter ended December 31, 2021, compared to adjusted EBITDA of $11.0 million, or $0.55 diluted per share, for the quarter ended December 31, 2020, a 31% decrease to adjusted EBITDA. Adjusted EBITDA was $24.5 million, or $1.20 diluted per share, for the nine months ended December 31, 2021, compared to adjusted EBITDA of $34.2 million, or $1.70 diluted per share, for the nine months ended December 31, 2020, a 28% decrease to adjusted EBITDA. Our average order size increased from $88 to $89 for the quarters ended December 31, 2020 and 2021, respectively.
PetMeds® Announces Its Third Fiscal Quarter Financial Results and Its Quarterly Dividend of $0.30 Per Share
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