10-Q Filing

PETMED EXPRESS INC CIK: 1040130 Q3 2016

Filing Information

Form Type	10-Q
Accession Number	`0001571049-17-000891`
Period End Date	20161231
Filing Date	20170131
Fiscal Year	2016
Fiscal Period	Q3
XBRL Instance	pets-20161231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 82 Cash Flow Statement 55

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$37.64M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$47.90M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$35.61M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$47.13M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $12 and $13, respectively	`AccountsReceivableNetCurrent`	$1.72M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $12 and $13, respectively	`AccountsReceivableNetCurrent`	$1.54M	USD	Point-in-time
Inventories - finished goods	`InventoryFinishedGoods`	$14.93M	USD	Point-in-time
Inventories - finished goods	`InventoryFinishedGoods`	$25.59M	USD	Point-in-time
Allowance for doubtful accounts (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$13.00K	USD	Point-in-time
Allowance for doubtful accounts (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$12.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.44M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.44M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$875.00K	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$243.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$67.63M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5,000.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$67.69M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5,000.00	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$29.07M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$20.93M	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$860.00K	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$860.00K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$863.00K	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
Total noncurrent assets	`AssetsNoncurrent`	$22.65M	USD	Point-in-time
Total noncurrent assets	`AssetsNoncurrent`	$29.93M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	40,000.00	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	40,000.00	shares	Point-in-time
Total assets	`Assets`	$97.62M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	20,447.00	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	20,527.00	shares	Point-in-time
Total assets	`Assets`	$90.28M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	20,447.00	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	20,527.00	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.39M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedExpensesAndOtherCurrentLiabilities`	$2.08M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedExpensesAndOtherCurrentLiabilities`	$2.54M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.08M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.93M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilities`	$301.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$7.08M	USD	Point-in-time
Total liabilities	`Liabilities`	$8.23M	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; 20,527 and 20,447 shares issued and outstanding, respectively	`CommonStockValue`	$21.00K	USD	Point-in-time
Common stock, $.001 par value, 40,000 shares authorized; 20,527 and 20,447 shares issued and outstanding, respectively	`CommonStockValue`	$20.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$6.43M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$4.87M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$82.92M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$78.30M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$83.19M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$89.39M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$90.28M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$97.62M	USD	Point-in-time

Income Statement 82 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueGoodsNet`	$179.29M	USD	3 Qtrs
Sales	`SalesRevenueGoodsNet`	$50.93M	USD	1 Quarter
Sales	`SalesRevenueGoodsNet`	$52.87M	USD	1 Quarter
Sales	`SalesRevenueGoodsNet`	$186.14M	USD	3 Qtrs
Cost of sales	`CostOfGoodsSold`	$120.66M	USD	3 Qtrs
Cost of sales	`CostOfGoodsSold`	$36.22M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$128.99M	USD	3 Qtrs
Cost of sales	`CostOfGoodsSold`	$34.18M	USD	1 Quarter
Gross profit	`GrossProfit`	$58.63M	USD	3 Qtrs
Gross profit	`GrossProfit`	$57.16M	USD	3 Qtrs
Gross profit	`GrossProfit`	$16.75M	USD	1 Quarter
Gross profit	`GrossProfit`	$16.64M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$4.98M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$16.16M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$17.21M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$5.36M	USD	1 Quarter
Advertising	`AdvertisingExpense`	$3.99M	USD	1 Quarter
Advertising	`AdvertisingExpense`	$13.31M	USD	3 Qtrs
Advertising	`AdvertisingExpense`	$3.17M	USD	1 Quarter
Advertising	`AdvertisingExpense`	$18.12M	USD	3 Qtrs
Depreciation	`Depreciation`	$855.00K	USD	3 Qtrs
Depreciation	`Depreciation`	$544.00K	USD	3 Qtrs
Depreciation	`Depreciation`	$457.00K	USD	1 Quarter
Depreciation	`Depreciation`	$167.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$8.99M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$9.13M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$31.37M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$34.83M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$7.62M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$7.66M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$25.79M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$23.80M	USD	3 Qtrs
Interest income, net	`InvestmentIncomeInterest`	$160.00K	USD	3 Qtrs
Interest income, net	`InvestmentIncomeInterest`	$96.00K	USD	3 Qtrs
Interest income, net	`InvestmentIncomeInterest`	$36.00K	USD	1 Quarter
Interest income, net	`InvestmentIncomeInterest`	$55.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-4.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$206.00K	USD	3 Qtrs
Other, net	`OtherNonoperatingIncomeExpense`	$130.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-12.00K	USD	3 Qtrs
Total other income	`NonoperatingIncomeExpense`	$51.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$302.00K	USD	3 Qtrs
Total other income	`NonoperatingIncomeExpense`	$148.00K	USD	3 Qtrs
Total other income	`NonoperatingIncomeExpense`	$166.00K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$7.82M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$23.95M	USD	3 Qtrs
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$26.09M	USD	3 Qtrs
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$7.67M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$9.77M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$8.80M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$3.00M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.78M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.82M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.89M	USD	1 Quarter
Net income	`NetIncomeLoss`	$15.15M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$16.32M	USD	3 Qtrs
Net change in unrealized loss on short term investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-33.00K	USD	3 Qtrs
Net change in unrealized loss on short term investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-14.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$16.32M	USD	3 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$4.82M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$15.12M	USD	3 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$4.88M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.24	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.24	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.75	USD	3 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.81	USD	3 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.24	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.75	USD	3 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.24	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.80	USD	3 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	20,115.00	shares	3 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	20,145.00	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	20,253.00	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	20,223.00	shares	3 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	20,408.00	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	20,373.00	shares	3 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	20,251.00	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	20,232.00	shares	3 Qtrs
Cash dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.54	USD	3 Qtrs
Cash dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.19	USD	1 Quarter
Cash dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.57	USD	3 Qtrs
Cash dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.18	USD	1 Quarter

Cash Flow Statement 55 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$4.82M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.89M	USD	1 Quarter
Net income	`NetIncomeLoss`	$15.15M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$16.32M	USD	3 Qtrs
Depreciation	`Depreciation`	$855.00K	USD	3 Qtrs
Depreciation	`Depreciation`	$544.00K	USD	3 Qtrs
Depreciation	`Depreciation`	$457.00K	USD	1 Quarter
Depreciation	`Depreciation`	$167.00K	USD	1 Quarter
Share based compensation	`ShareBasedCompensation`	$1.19M	USD	3 Qtrs
Share based compensation	`ShareBasedCompensation`	$1.44M	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$1.16M	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-109.00K	USD	3 Qtrs
Bad debt expense	`ProvisionForDoubtfulAccounts`	$243.00K	USD	3 Qtrs
Bad debt expense	`ProvisionForDoubtfulAccounts`	$368.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-323.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$188.00K	USD	3 Qtrs
Inventories - finished goods	`IncreaseDecreaseInFinishedGoodsAndWorkInProcessInventories`	$-6.21M	USD	3 Qtrs
Inventories - finished goods	`IncreaseDecreaseInFinishedGoodsAndWorkInProcessInventories`	$-10.66M	USD	3 Qtrs
Prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	$632.00K	USD	3 Qtrs
Prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	$334.00K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-857.00K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$895.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$387.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$212.00K	USD	3 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-50.00K	USD	3 Qtrs
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$156.00K	USD	3 Qtrs
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$410.00K	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$31.64M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$22.64M	USD	3 Qtrs
Net change in investments	`PaymentsForProceedsFromInvestments`	$50.00K	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$9.86M	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$177.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-227.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-9.86M	USD	3 Qtrs
Dividends paid	`PaymentsOfDividendsCommonStock`	$10.98M	USD	3 Qtrs
Dividends paid	`PaymentsOfDividendsCommonStock`	$11.63M	USD	3 Qtrs
Tax adjustment related to restricted stock	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$-115.00K	USD	3 Qtrs
Tax adjustment related to restricted stock	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$-92.00K	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-10.89M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-11.52M	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$11.52M	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$10.27M	USD	3 Qtrs
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$37.64M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$47.90M	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`	$47.13M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashAndCashEquivalentsAtCarryingValue`	$37.64M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashAndCashEquivalentsAtCarryingValue`	$47.90M	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`	$47.13M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	$9.25M	USD	3 Qtrs
Cash paid for income taxes	`IncomeTaxesPaid`	$9.20M	USD	3 Qtrs
Prepaid property and equipment in current assets	`PrepaidPropertyAndEquipmentInCurrentAssets`	$863.00K	USD	3 Qtrs
Dividends payable in accrued expenses	`LiabilitiesAssumed1`	$185.00K	USD	3 Qtrs
Dividends payable in accrued expenses	`LiabilitiesAssumed1`	$196.00K	USD	3 Qtrs

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