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PetMed Express Q4 Profit Slips

PetMed Express Inc. (PETS) Monday reported a decline in profit for the fourth quarter, as higher operating expenses offset a double-digit revenue growth.

The Pompano Beach, Florida-based company's fourth-quarter net profit was $3.99 million, compared to $4.15 million last year. On a per-share basis, earnings rose to $0.20 from $0.19, due mainly lower shares count. On average, seven analysts polled by Thomson Reuters expected the company to earn $0.18 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues for the quarter grew 10 percent to $55.92 million from $50.91 million in the prior-year quarter. Five analysts had a consensus revenue estimate of $52.05 million for the quarter.

For the quarter, total operating expenses increased to $12.69 million from $11.03 million in the similar quarter last year.

by RTT Staff Writer

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