10-Q Filing

PETMED EXPRESS INC CIK: 1040130 Q2 2014

Filing Information

Form Type	10-Q
Accession Number	`0001571049-14-005454`
Period End Date	20140930
Filing Date	20141028
Fiscal Year	2014
Fiscal Period	Q2
XBRL Instance	pets-20140930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 65 Income Statement 85 Cash Flow Statement 56

Balance Sheet 65 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.30M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.16M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$34.58M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$35.91M	USD	Point-in-time
Short term investments - available for sale	`AvailableForSaleSecuritiesCurrent`	$15.54M	USD	Point-in-time
Short term investments - available for sale	`AvailableForSaleSecuritiesCurrent`	$15.58M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $8 and $7, respectively	`AccountsReceivableNetCurrent`	$1.96M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $8 and $7, respectively	`AccountsReceivableNetCurrent`	$1.76M	USD	Point-in-time
Allowance for doubtful accounts (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$8.00K	USD	Point-in-time
Inventories - finished goods	`InventoryFinishedGoods`	$35.73M	USD	Point-in-time
Allowance for doubtful accounts (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$7.00K	USD	Point-in-time
Inventories - finished goods	`InventoryFinishedGoods`	$20.54M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.92M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.76M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$1.06M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$716.00K	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$1.87M	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$54.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$74.21M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$77.16M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseNoncurrent`	$2.00M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.36M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.31M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$860.00K	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$860.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	20.27M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	20.19M	shares	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$44.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	20.27M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	20.19M	shares	Point-in-time
Total assets	`Assets`	$79.43M	USD	Point-in-time
Total assets	`Assets`	$78.38M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.25M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.77M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedExpensesAndOtherCurrentLiabilities`	$2.33M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedExpensesAndOtherCurrentLiabilities`	$2.33M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.58M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.09M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$65.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$7.58M	USD	Point-in-time
Total liabilities	`Liabilities`	$8.16M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $.001 par value, 5,000 shares authorized; 3 convertible shares issued and outstanding with a liquidation preference of $4 per share	`PreferredStockValue`	$9.00K	USD	Point-in-time
Preferred stock, $.001 par value, 5,000 shares authorized; 3 convertible shares issued and outstanding with a liquidation preference of $4 per share	`PreferredStockValue`	$9.00K	USD	Point-in-time
Common stock, $.001 par value, 40,000 shares authorized; 20,268 and 20,190 shares issued and outstanding, respectively	`CommonStockValue`	$20.00K	USD	Point-in-time
Common stock, $.001 par value, 40,000 shares authorized; 20,268 and 20,190 shares issued and outstanding, respectively	`CommonStockValue`	$20.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.37M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.58M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$69.48M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$68.65M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-37.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-30.00K	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$70.22M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$71.85M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$79.43M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$78.38M	USD	Point-in-time

Income Statement 85 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueGoodsNet`	$130.12M	USD	2 Qtrs
Sales	`SalesRevenueGoodsNet`	$134.67M	USD	2 Qtrs
Sales	`SalesRevenueGoodsNet`	$60.48M	USD	1 Quarter
Sales	`SalesRevenueGoodsNet`	$57.58M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$41.23M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$39.12M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$91.41M	USD	2 Qtrs
Cost of sales	`CostOfGoodsSold`	$87.89M	USD	2 Qtrs
Gross profit	`GrossProfit`	$42.23M	USD	2 Qtrs
Gross profit	`GrossProfit`	$18.46M	USD	1 Quarter
Gross profit	`GrossProfit`	$43.27M	USD	2 Qtrs
Gross profit	`GrossProfit`	$19.25M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$11.26M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$11.38M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$5.50M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$5.38M	USD	1 Quarter
Advertising	`AdvertisingExpense`	$6.99M	USD	1 Quarter
Advertising	`AdvertisingExpense`	$17.38M	USD	2 Qtrs
Advertising	`AdvertisingExpense`	$16.81M	USD	2 Qtrs
Advertising	`AdvertisingExpense`	$6.92M	USD	1 Quarter
Discontinued project costs	`DiscontinuedProjectCharge`	$1.71M	USD	1 Quarter
Discontinued project costs	`DiscontinuedProjectCharge`	$1.71M	USD	2 Qtrs
Depreciation	`Depreciation`	$322.00K	USD	2 Qtrs
Depreciation	`Depreciation`	$478.00K	USD	2 Qtrs
Depreciation	`Depreciation`	$230.00K	USD	1 Quarter
Depreciation	`Depreciation`	$159.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$29.24M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$14.17M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$12.72M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$30.10M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$12.13M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$14.03M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$4.29M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$6.53M	USD	1 Quarter
Interest income, net	`InvestmentIncomeInterest`	$44.00K	USD	1 Quarter
Interest income, net	`InvestmentIncomeInterest`	$88.00K	USD	2 Qtrs
Interest income, net	`InvestmentIncomeInterest`	$48.00K	USD	1 Quarter
Interest income, net	`InvestmentIncomeInterest`	$95.00K	USD	2 Qtrs
Other, net	`OtherNonoperatingIncomeExpense`	$-1.00K	USD	2 Qtrs
Other, net	`OtherNonoperatingIncomeExpense`	$1.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-2.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$7.00K	USD	2 Qtrs
Total other income	`NonoperatingIncomeExpense`	$94.00K	USD	2 Qtrs
Total other income	`NonoperatingIncomeExpense`	$49.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$95.00K	USD	2 Qtrs
Total other income	`NonoperatingIncomeExpense`	$42.00K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$12.22M	USD	2 Qtrs
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$6.58M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$4.33M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$14.12M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.43M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$4.52M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.60M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$5.22M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$7.71M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$4.15M	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.90M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$2.73M	USD	1 Quarter
Net change in unrealized gain (loss) on short term investments	`AvailableForSaleSecuritiesChangeInNetUnrealizedHoldingGainLossNetOfTax`	$-1.00K	USD	1 Quarter
Net change in unrealized gain (loss) on short term investments	`AvailableForSaleSecuritiesChangeInNetUnrealizedHoldingGainLossNetOfTax`	$7.00K	USD	2 Qtrs
Net change in unrealized gain (loss) on short term investments	`AvailableForSaleSecuritiesChangeInNetUnrealizedHoldingGainLossNetOfTax`	$-46.00K	USD	2 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$4.15M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$8.86M	USD	2 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$2.73M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$7.71M	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.39	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.21	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.14	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.45	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.21	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.44	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.14	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.38	USD	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	19.90M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	19.88M	shares	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	20.02M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	19.99M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	20.15M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	20.12M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	20.04M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	20.02M	shares	2 Qtrs
Cash dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.32	USD	2 Qtrs
Cash dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.34	USD	2 Qtrs
Cash dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.17	USD	1 Quarter
Cash dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.17	USD	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$7.71M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$4.15M	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.90M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$2.73M	USD	1 Quarter
Depreciation	`Depreciation`	$322.00K	USD	2 Qtrs
Depreciation	`Depreciation`	$478.00K	USD	2 Qtrs
Depreciation	`Depreciation`	$230.00K	USD	1 Quarter
Depreciation	`Depreciation`	$159.00K	USD	1 Quarter
Share based compensation	`ShareBasedCompensation`	$753.00K	USD	2 Qtrs
Share based compensation	`ShareBasedCompensation`	$732.00K	USD	2 Qtrs
Discontinued project costs	`DiscontinuedProjectCharge`	$1.71M	USD	1 Quarter
Discontinued project costs	`DiscontinuedProjectCharge`	$1.71M	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$237.00K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$193.00K	USD	2 Qtrs
Bad debt expense	`ProvisionForDoubtfulAccounts`	$49.00K	USD	2 Qtrs
Bad debt expense	`ProvisionForDoubtfulAccounts`	$40.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$235.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-6.00K	USD	2 Qtrs
Inventories - finished goods	`IncreaseDecreaseInFinishedGoodsAndWorkInProcessInventories`	$-15.19M	USD	2 Qtrs
Inventories - finished goods	`IncreaseDecreaseInFinishedGoodsAndWorkInProcessInventories`	$-14.26M	USD	2 Qtrs
Prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	$1.82M	USD	2 Qtrs
Prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	$779.00K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.10M	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-119.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-521.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.86M	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-162.00K	USD	2 Qtrs
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-93.00K	USD	2 Qtrs
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$80.00K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$24.36M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$23.59M	USD	2 Qtrs
Net change in investments	`PaymentsForProceedsFromInvestments`	$41.00K	USD	2 Qtrs
Net change in investments	`PaymentsForProceedsFromInvestments`	$37.00K	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$372.00K	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$31.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-72.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-409.00K	USD	2 Qtrs
Dividends paid	`PaymentsOfDividendsCommonStock`	$6.53M	USD	2 Qtrs
Dividends paid	`PaymentsOfDividendsCommonStock`	$6.95M	USD	2 Qtrs
Tax adjustment related to restricted stock	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$39.00K	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-6.91M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-6.53M	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$16.27M	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$17.76M	USD	2 Qtrs
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$18.30M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$18.16M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$34.58M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$35.91M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashAndCashEquivalentsAtCarryingValue`	$18.30M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashAndCashEquivalentsAtCarryingValue`	$18.16M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashAndCashEquivalentsAtCarryingValue`	$34.58M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashAndCashEquivalentsAtCarryingValue`	$35.91M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	$5.69M	USD	2 Qtrs
Cash paid for income taxes	`IncomeTaxesPaid`	$6.06M	USD	2 Qtrs
Dividends payable in accrued expenses	`LiabilitiesAssumed1`	$191.00K	USD	2 Qtrs
Dividends payable in accrued expenses	`LiabilitiesAssumed1`	$196.00K	USD	2 Qtrs

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.