10-Q Filing

PETMED EXPRESS INC CIK: 1040130 Q3 2015

Filing Information

Form Type	10-Q
Accession Number	`0001571049-16-011434`
Period End Date	20151231
Filing Date	20160202
Fiscal Year	2015
Fiscal Period	Q3
XBRL Instance	pets-20151231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 85 Cash Flow Statement 57

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$47.13M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.30M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$37.07M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$35.61M	USD	Point-in-time
Short term investments - available for sale	`AvailableForSaleSecuritiesCurrent`	$15.61M	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 $10 and $8, respectively	`AccountsReceivableNetCurrent`	$1.93M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $10 and $8, respectively	`AccountsReceivableNetCurrent`	$1.36M	USD	Point-in-time
Allowance for doubtful accounts receivables (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$8.00K	USD	Point-in-time
Inventories - finished goods	`InventoryFinishedGoods`	$25.07M	USD	Point-in-time
Inventories - finished goods	`InventoryFinishedGoods`	$18.86M	USD	Point-in-time
Allowance for doubtful accounts receivables (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$10.00K	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
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.38M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.27M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$817.00K	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`	$848.00K	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$334.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$80.40M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$86.42M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.20M	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
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.57M	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
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$101.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	20.33M	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 outstanding	`CommonStockSharesOutstanding`	20.33M	shares	Point-in-time
Total assets	`Assets`	$88.58M	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`	$5.15M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.37M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedExpensesAndOtherCurrentLiabilities`	$2.21M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedExpensesAndOtherCurrentLiabilities`	$2.34M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$50.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$7.71M	USD	Point-in-time
Total liabilities	`Liabilities`	$7.42M	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; 20,327 and 20,262 shares issued and outstanding, respectively	`CommonStockValue`	$20.00K	USD	Point-in-time
Common stock, $.001 par value, 40,000 shares authorized; 20,327 and 20,262 shares issued and outstanding, respectively	`CommonStockValue`	$20.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$3.12M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$4.40M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$72.34M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$76.53M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-54.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-87.00K	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$80.88M	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`	$88.58M	USD	Point-in-time

Income Statement 85 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueGoodsNet`	$179.40M	USD	3 Qtrs
Sales	`SalesRevenueGoodsNet`	$49.28M	USD	1 Quarter
Sales	`SalesRevenueGoodsNet`	$179.29M	USD	3 Qtrs
Sales	`SalesRevenueGoodsNet`	$50.93M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$120.66M	USD	3 Qtrs
Cost of sales	`CostOfGoodsSold`	$32.18M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$120.07M	USD	3 Qtrs
Cost of sales	`CostOfGoodsSold`	$34.18M	USD	1 Quarter
Gross profit	`GrossProfit`	$17.10M	USD	1 Quarter
Gross profit	`GrossProfit`	$59.33M	USD	3 Qtrs
Gross profit	`GrossProfit`	$16.75M	USD	1 Quarter
Gross profit	`GrossProfit`	$58.63M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$4.95M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$16.20M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$16.16M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$4.98M	USD	1 Quarter
Advertising	`AdvertisingExpense`	$21.13M	USD	3 Qtrs
Advertising	`AdvertisingExpense`	$18.12M	USD	3 Qtrs
Advertising	`AdvertisingExpense`	$3.99M	USD	1 Quarter
Advertising	`AdvertisingExpense`	$4.32M	USD	1 Quarter
Discontinued project costs	`DiscontinuedProjectCharge`	$1.71M	USD	3 Qtrs
Depreciation	`Depreciation`	$544.00K	USD	3 Qtrs
Depreciation	`Depreciation`	$487.00K	USD	3 Qtrs
Depreciation	`Depreciation`	$167.00K	USD	1 Quarter
Depreciation	`Depreciation`	$165.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$9.43M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$34.83M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$39.54M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$9.13M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$23.80M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$7.62M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$7.67M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$19.79M	USD	3 Qtrs
Interest income, net	`InvestmentIncomeInterest`	$50.00K	USD	1 Quarter
Interest income, net	`InvestmentIncomeInterest`	$55.00K	USD	1 Quarter
Interest income, net	`InvestmentIncomeInterest`	$138.00K	USD	3 Qtrs
Interest income, net	`InvestmentIncomeInterest`	$160.00K	USD	3 Qtrs
Other, net	`OtherNonoperatingIncomeExpense`	$-12.00K	USD	3 Qtrs
Other, net	`OtherNonoperatingIncomeExpense`	$3.00K	USD	3 Qtrs
Other, net	`OtherNonoperatingIncomeExpense`	$-4.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-4.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$141.00K	USD	3 Qtrs
Total other income	`NonoperatingIncomeExpense`	$51.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$148.00K	USD	3 Qtrs
Total other income	`NonoperatingIncomeExpense`	$46.00K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$7.67M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$19.93M	USD	3 Qtrs
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$7.71M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$23.95M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$8.80M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.92M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$7.43M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.78M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.89M	USD	1 Quarter
Net income	`NetIncomeLoss`	$12.50M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$15.15M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$4.80M	USD	1 Quarter
Net change in unrealized loss on short term investments	`AvailableForSaleSecuritiesChangeInNetUnrealizedHoldingGainLossNetOfTax`	$-33.00K	USD	3 Qtrs
Net change in unrealized loss on short term investments	`AvailableForSaleSecuritiesChangeInNetUnrealizedHoldingGainLossNetOfTax`	$-13.00K	USD	3 Qtrs
Net change in unrealized loss on short term investments	`AvailableForSaleSecuritiesChangeInNetUnrealizedHoldingGainLossNetOfTax`	$-20.00K	USD	1 Quarter
Net change in unrealized loss on short term investments	`AvailableForSaleSecuritiesChangeInNetUnrealizedHoldingGainLossNetOfTax`	$-14.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$15.12M	USD	3 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$12.49M	USD	3 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$4.88M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$4.78M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.75	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	$0.24	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.24	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.62	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.24	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.75	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.24	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.62	USD	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	20.04M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	20.11M	shares	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	20.00M	shares	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	20.14M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	20.23M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	20.25M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	20.16M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	20.13M	shares	3 Qtrs
Cash dividends declared per common share	`CommonStockDividendsPerShareDeclared`	$0.18	USD	1 Quarter
Cash dividends declared per common share	`CommonStockDividendsPerShareDeclared`	$0.54	USD	3 Qtrs
Cash dividends declared per common share	`CommonStockDividendsPerShareDeclared`	$0.51	USD	3 Qtrs
Cash dividends declared per common share	`CommonStockDividendsPerShareDeclared`	$0.17	USD	1 Quarter

Cash Flow Statement 57 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$4.89M	USD	1 Quarter
Net income	`NetIncomeLoss`	$12.50M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$15.15M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$4.80M	USD	1 Quarter
Depreciation	`Depreciation`	$544.00K	USD	3 Qtrs
Depreciation	`Depreciation`	$487.00K	USD	3 Qtrs
Depreciation	`Depreciation`	$167.00K	USD	1 Quarter
Depreciation	`Depreciation`	$165.00K	USD	1 Quarter
Share based compensation	`ShareBasedCompensation`	$1.19M	USD	3 Qtrs
Share based compensation	`ShareBasedCompensation`	$1.12M	USD	3 Qtrs
Discontinued project costs	`DiscontinuedProjectCharge`	$1.71M	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-109.00K	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$129.00K	USD	3 Qtrs
Bad debt expense	`ProvisionForDoubtfulAccounts`	$66.00K	USD	3 Qtrs
Bad debt expense	`ProvisionForDoubtfulAccounts`	$243.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-323.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-343.00K	USD	3 Qtrs
Inventories - finished goods	`IncreaseDecreaseInFinishedGoodsAndWorkInProcessInventories`	$-6.21M	USD	3 Qtrs
Inventories - finished goods	`IncreaseDecreaseInFinishedGoodsAndWorkInProcessInventories`	$-14.11M	USD	3 Qtrs
Prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	$-54.00K	USD	3 Qtrs
Prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	$334.00K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$895.00K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-763.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$212.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.89M	USD	3 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$283.00K	USD	3 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-50.00K	USD	3 Qtrs
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-153.00K	USD	3 Qtrs
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$156.00K	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$22.64M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$29.53M	USD	3 Qtrs
Net change in short term investments	`PaymentsForProceedsFromInvestments`	$53.00K	USD	3 Qtrs
Net change in short term investments	`PaymentsForProceedsFromInvestments`	$50.00K	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$398.00K	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$177.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-451.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-227.00K	USD	3 Qtrs
Dividends paid	`PaymentsOfDividendsCommonStock`	$10.35M	USD	3 Qtrs
Dividends paid	`PaymentsOfDividendsCommonStock`	$10.98M	USD	3 Qtrs
Tax adjustment related to restricted stock	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$39.00K	USD	3 Qtrs
Tax adjustment related to restricted stock	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$92.00K	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-10.89M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-10.31M	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$18.76M	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$11.52M	USD	3 Qtrs
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$47.13M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$18.30M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$37.07M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$35.61M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashAndCashEquivalentsAtCarryingValue`	$47.13M	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`	$37.07M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashAndCashEquivalentsAtCarryingValue`	$35.61M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	$9.20M	USD	3 Qtrs
Cash paid for income taxes	`IncomeTaxesPaid`	$6.93M	USD	3 Qtrs
Dividends payable in accrued expenses	`LiabilitiesAssumed1`	$185.00K	USD	3 Qtrs
Dividends payable in accrued expenses	`LiabilitiesAssumed1`	$225.00K	USD	3 Qtrs

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