Petmed Express Falls 18% on Q4 Results
Shares of Petmed Express (NASDAQ: PETS) are plunging on Monday after the company reported its fiscal fourth-quarter results. At last check, PETS shares were trading down 18% to $11.29. The Pompano Beach, Florida-based small-cap company reported net profit of $3.99 million or $0.20 per share, compared to $4.15 million or $0.19 per share, in the year ago period. The earnings per share discrepancy was based on a lower share count versus last year. The results compared to analysts' consensus EPS estimates of $0.18.
Revenues for the quarter were $55.9 million compared to $50.9 million in last year's corresponding quarter. This also came in ahead of analysts' consensus revenue estimates of $52.05 million. Despite beating Wall Street estimates on both the top and bottom lines, PETS shares are among the largest losers on Monday as investors clearly have pinpointed some weakness in the quarterly results.
The trajectory of the stock during Monday's trading session suggests that there may be one or two very large sellers in the name looking to get out quickly. The stock did not actually gap down that sharply at the open, but rather plummeted once trading started. PETS shares opened the session at $13.50 and have subsequently fallen $2.25.
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