10-Q Filing

PETMED EXPRESS INC CIK: 1040130 Q2 2015

Filing Information

Form Type	10-Q
Accession Number	`0001571049-15-008430`
Period End Date	20150930
Filing Date	20151027
Fiscal Year	2015
Fiscal Period	Q2
XBRL Instance	pets-20150930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 86 Cash Flow Statement 57

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$34.58M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$42.18M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$35.61M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.30M	USD	Point-in-time
Short term investments - available for sale	`AvailableForSaleSecuritiesCurrent`	$15.60M	USD	Point-in-time
Short term investments - available for sale	`AvailableForSaleSecuritiesCurrent`	$15.59M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $12 and $8, respectively	`AccountsReceivableNetCurrent`	$1.93M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $12 and $8, respectively	`AccountsReceivableNetCurrent`	$1.62M	USD	Point-in-time
Inventories - finished goods	`InventoryFinishedGoods`	$24.40M	USD	Point-in-time
Allowance for doubtful accounts receivables (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$12.00K	USD	Point-in-time
Inventories - finished goods	`InventoryFinishedGoods`	$25.07M	USD	Point-in-time
Allowance for doubtful accounts receivables (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$8.00K	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.38M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.47M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$761.00K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$817.00K	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$60.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$86.10M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$80.40M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.37M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.57M	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
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$860.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$860.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	20.26M	shares	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$23.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	20.33M	shares	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$74.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	20.33M	shares	Point-in-time
Total assets	`Assets`	$88.40M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	20.26M	shares	Point-in-time
Total assets	`Assets`	$82.85M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.28M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.15M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedExpensesAndOtherCurrentLiabilities`	$2.21M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedExpensesAndOtherCurrentLiabilities`	$1.88M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$50.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$7.42M	USD	Point-in-time
Total liabilities	`Liabilities`	$9.16M	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; 20,331 and 20,262 shares issued and outstanding, respectively	`CommonStockValue`	$20.00K	USD	Point-in-time
Common stock, $.001 par value, 40,000 shares authorized; 20,331 and 20,262 shares issued and outstanding, respectively	`CommonStockValue`	$20.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$3.99M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$3.12M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$72.34M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$75.30M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-54.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-73.00K	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$79.24M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$75.44M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$82.85M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$88.40M	USD	Point-in-time

Income Statement 86 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueGoodsNet`	$57.58M	USD	1 Quarter
Sales	`SalesRevenueGoodsNet`	$128.36M	USD	2 Qtrs
Sales	`SalesRevenueGoodsNet`	$130.12M	USD	2 Qtrs
Sales	`SalesRevenueGoodsNet`	$56.73M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$86.48M	USD	2 Qtrs
Cost of sales	`CostOfGoodsSold`	$87.89M	USD	2 Qtrs
Cost of sales	`CostOfGoodsSold`	$37.81M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$39.12M	USD	1 Quarter
Gross profit	`GrossProfit`	$18.46M	USD	1 Quarter
Gross profit	`GrossProfit`	$42.23M	USD	2 Qtrs
Gross profit	`GrossProfit`	$41.88M	USD	2 Qtrs
Gross profit	`GrossProfit`	$18.91M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$11.19M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$5.38M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$11.26M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$5.39M	USD	1 Quarter
Advertising	`AdvertisingExpense`	$6.92M	USD	1 Quarter
Advertising	`AdvertisingExpense`	$14.13M	USD	2 Qtrs
Advertising	`AdvertisingExpense`	$6.25M	USD	1 Quarter
Advertising	`AdvertisingExpense`	$16.81M	USD	2 Qtrs
Discontinued project costs	`DiscontinuedProjectCharge`	$1.71M	USD	2 Qtrs
Discontinued project costs	`DiscontinuedProjectCharge`	$1.71M	USD	1 Quarter
Depreciation	`Depreciation`	$186.00K	USD	1 Quarter
Depreciation	`Depreciation`	$377.00K	USD	2 Qtrs
Depreciation	`Depreciation`	$322.00K	USD	2 Qtrs
Depreciation	`Depreciation`	$159.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$25.70M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$30.10M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$11.82M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$14.17M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$16.18M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$7.09M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$4.29M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$12.13M	USD	2 Qtrs
Interest income, net	`InvestmentIncomeInterest`	$55.00K	USD	1 Quarter
Interest income, net	`InvestmentIncomeInterest`	$88.00K	USD	2 Qtrs
Interest income, net	`InvestmentIncomeInterest`	$44.00K	USD	1 Quarter
Interest income, net	`InvestmentIncomeInterest`	$105.00K	USD	2 Qtrs
Other, net	`OtherNonoperatingIncomeExpense`	$-8.00K	USD	2 Qtrs
Other, net	`OtherNonoperatingIncomeExpense`	$-2.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$7.00K	USD	2 Qtrs
Other, net	`OtherNonoperatingIncomeExpense`	$-4.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$51.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$42.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$97.00K	USD	2 Qtrs
Total other income	`NonoperatingIncomeExpense`	$95.00K	USD	2 Qtrs
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$12.22M	USD	2 Qtrs
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$16.28M	USD	2 Qtrs
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$4.33M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$7.14M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$6.02M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.64M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.60M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$4.52M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$4.50M	USD	1 Quarter
Net income	`NetIncomeLoss`	$10.26M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$2.73M	USD	1 Quarter
Net income	`NetIncomeLoss`	$7.71M	USD	2 Qtrs
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`	$-19.00K	USD	2 Qtrs
Net change in unrealized gain (loss) on short term investments	`AvailableForSaleSecuritiesChangeInNetUnrealizedHoldingGainLossNetOfTax`	$16.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$7.71M	USD	2 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$4.52M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$10.24M	USD	2 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$2.73M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.14	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.51	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.39	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.22	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.14	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.22	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.51	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.38	USD	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	20.13M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	20.02M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	19.99M	shares	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	20.10M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	20.12M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	20.15M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	20.22M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	20.25M	shares	1 Quarter
Cash dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.18	USD	1 Quarter
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`	$0.36	USD	2 Qtrs
Cash dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.34	USD	2 Qtrs

Cash Flow Statement 57 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$4.50M	USD	1 Quarter
Net income	`NetIncomeLoss`	$10.26M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$2.73M	USD	1 Quarter
Net income	`NetIncomeLoss`	$7.71M	USD	2 Qtrs
Depreciation	`Depreciation`	$186.00K	USD	1 Quarter
Depreciation	`Depreciation`	$377.00K	USD	2 Qtrs
Depreciation	`Depreciation`	$322.00K	USD	2 Qtrs
Depreciation	`Depreciation`	$159.00K	USD	1 Quarter
Share based compensation	`ShareBasedCompensation`	$753.00K	USD	2 Qtrs
Share based compensation	`ShareBasedCompensation`	$777.00K	USD	2 Qtrs
Discontinued project costs	`DiscontinuedProjectCharge`	$1.71M	USD	2 Qtrs
Discontinued project costs	`DiscontinuedProjectCharge`	$1.71M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$4.00K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$237.00K	USD	2 Qtrs
Bad debt expense	`ProvisionForDoubtfulAccounts`	$227.00K	USD	2 Qtrs
Bad debt expense	`ProvisionForDoubtfulAccounts`	$40.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-81.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$235.00K	USD	2 Qtrs
Inventories - finished goods	`IncreaseDecreaseInFinishedGoodsAndWorkInProcessInventories`	$-664.00K	USD	2 Qtrs
Inventories - finished goods	`IncreaseDecreaseInFinishedGoodsAndWorkInProcessInventories`	$-15.19M	USD	2 Qtrs
Prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	$1.82M	USD	2 Qtrs
Prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	$60.00K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$86.00K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-119.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.12M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-521.00K	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-50.00K	USD	2 Qtrs
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-277.00K	USD	2 Qtrs
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$80.00K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$23.59M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$14.04M	USD	2 Qtrs
Net change in investments	`PaymentsForProceedsFromInvestments`	$37.00K	USD	2 Qtrs
Net change in investments	`PaymentsForProceedsFromInvestments`	$33.00K	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$175.00K	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$372.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-409.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-208.00K	USD	2 Qtrs
Dividends paid	`PaymentsOfDividendsCommonStock`	$6.95M	USD	2 Qtrs
Dividends paid	`PaymentsOfDividendsCommonStock`	$7.36M	USD	2 Qtrs
Tax adjustment related to restricted stock	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$39.00K	USD	2 Qtrs
Tax adjustment related to restricted stock	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$92.00K	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-6.91M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-7.27M	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$16.27M	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$6.57M	USD	2 Qtrs
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$34.58M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$42.18M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$35.61M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$18.30M	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`	$42.18M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashAndCashEquivalentsAtCarryingValue`	$35.61M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashAndCashEquivalentsAtCarryingValue`	$18.30M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	$6.06M	USD	2 Qtrs
Cash paid for income taxes	`IncomeTaxesPaid`	$6.03M	USD	2 Qtrs
Dividends payable in accrued expenses	`LiabilitiesAssumed1`	$191.00K	USD	2 Qtrs
Dividends payable in accrued expenses	`LiabilitiesAssumed1`	$154.00K	USD	2 Qtrs

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