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Pethealth Posts Higher Q1 Sales

4/12/2012 1:25 PM ET

Pethealth Inc. (PTZ.TO: Quote), a provider of RFID microchip technology for companion animals, reported first-quarter sales of 390,695 microchips, up 26 percent from the same period last year.

The sales of microchips helped the company record 295,000 registration over the quarter in its 24PetWatch database, pushing the number of pets registered in the 24PetWatch database to nearly 5.6 million at the end of March.

In the month of March, the company sold 132,925 microhips, up 23 percent from last year in the month of March, driven by strong growth in its North American animal welfare channel and expanding market share in the United Kingdom.

Sales in North America were also aided by the introduction of Allflex's new MiniChip which continued to gain share during the quarter in the U.S. and Canada.

The company expects to introduce the MiniChip into the U.K. in the second quarter.

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by RTT Staff Writer

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