PetMed Express Reports Sales Increase In Q4June 29, 2009 PetMed Express Inc. of Pompano Beach, Fla., recently reported net income of $5.6 million on revenue of $48.1 million for its fourth quarter ended March 31, compared to net income of $4.9 million on revenue of $40.4 million in the year-ago period. The company acquired about 142,000 new customers during the quarter, compared to 126,000 for the same quarter the prior year. Reorder sales increased 20 percent for the quarter to $37.2 million, compared to $31 million in the year-ago period. Year to date, PetMed Express reported net income of $23 million on revenue of $219.4 million, compared to net income of $20 million on revenue of $188.3 million in the year-ago period. The company acquired about 802,000 new customers during the year, compared to 710,000 in the year prior. New order growth accelerated to 16 percent in fiscal 2009 compared to 5 percent last year. Reorder sales year to date were $156.8 million, compared to $134.3 million in the year-ago period. New order sales year to date were $62.5 million, compared to $53.8 million in the year-ago period. <HOME>
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Webster Veterinary Sees 33% IncreaseJune 29, 2009 Webster Veterinary, a unit of Patterson Companies Inc. of St. Paul, Minn., recently reported revenue of $158.5 million for its four quarter ended April 25, compared to revenue of $119.5 million in the year-ago period. The 33 percent increase is due primarily to the October acquisition of Columbus Serum. Year to date, the unit reported revenue of $550.6 million, compared to revenue of $446.4 million in the year-ago period. Overall, Patterson reported net income of $54 million on revenue of $779.9 million for its fourth quarter, compared to net income of $63.2 million on revenue of $778.4 million in the year-ago period. Year to date, the company reported net income of $199.6 million on revenue of $3.1 billion, compared to net income of $224.9 million on revenue of $3 billion in the year-ago period. <HOME>
VCA Registers Stock For Future AcquisitionsJune 29, 2009 VCA Antech Inc., a Los Angeles-based chain of animal hospitals and laboratories, registered $200 million of common stock with the U.S. Securities and Exchange commission to be used for future acquisitions, thereby conserving cash for other uses. It plans to acquire hospitals with aggregate annual revenues of $60-70 million each year, but is also trying to accumulate cash. It currently holds about $521 million in bank debt, with notes coming due in May 2011. The company acquired 51 hospitals and four labs in 2008, 73 hospitals and two labs in 2007 and 22 hospitals and three labs in 2006. The company does not expect its long-term cash flow from operations to be sufficient to pay its long-term debt at that time, according to its SEC filing. <HOME>
Lilly’s Animal Worldwide Revenue Up 12%June 2, 2009 Eli Lilly and Co.’s Animal Division reported worldwide revenue of $264.1 million in the first quarter ended March 31, an increase of 12 percent over the year-ago period. U.S. revenue grew by 43 percent, to $153.6 million, primarily due to sales from the Posilac acquisition completed in October. Revenue outside the U.S. fell by 13 percent, to $110.5 million, primarily because of unfavorable exchange rates, according to the Indianapolis company. Overall, Lilly reported first-quarter net income of $1.3 billion on revenue of $5 billion, compared to $1.1 billion and $4.8 billion, respectively, in the year-ago period. <HOME>
VCA’s Same-Store Sales Down 2.7 Percent In Q1June 2, 2009 VCA Antech Inc.’s same-store revenue declined by 2.7 percent in the first quarter ended March 31, while the same-store gross profit margin rose to 18.8 percent from 18.5 percent. The Animal Hospital Division reported first-quarter revenue of $238.4 million compared to $226.1 million in the year-ago period. The 5.4 percent increase was driven by acquisitions made in the past 12 months. The Los Angeles company made nine acquisitions during the quarter, marking historical combined annual revenue of $20.9 million. VCA Antech’s Laboratory Division reported first-quarter revenue of $77.5 million, compared to $76.7 million in the year-ago period. Revenue in the Medical Technology Division was $9.2 million in the first quarter, compared to $13.8 million in the year-ago period. Overall, VCA Antech reported first-quarter net income of $32.9 million on revenue of $315.9 million, compared to $32.2 million and $307.8 million, respectively, in the year-ago period. The company also affirmed its 2009 financial guidance: revenue of $1.36 billion to $1.39 billion and net income of $135.2 million to $141.1 million. <HOME>
Financial News Briefs - June 2009June 2, 2009 Food giant Nestlé, based in Vevey, Switzerland, reported Pet Care Division sales of $2.8 billion in the first quarter of 2009, compared to $2.5 billion a year earlier. The company attributed the performance to resilient demand for key premium and superpremium Purina brands, such as Dog Chow, Beneful, Pro Plan and Cat Chow. According to Nestlé, the growth of its pet care business was supported by products at different price points as well as the continued success of 2008 launches. Vetco Hospitals Inc., a subsidiary of PawsPlus Inc. of Sarasota, Fla., reported that March sales jumped by 39.1 percent, to $1.4 million, up from $981,600 in the year-ago period. First-quarter sales increased by 40.7 percent, to $3.1 million. Schering-Plough’s animal health business reported revenue of $630 million in the first quarter ended March 31, a 13 percent decrease from the year-ago period. Overall, the Kenilworth, N.J., company saw first-quarter net income of $805 million on revenue of $4.4 billion, compared to $314 million and $4.7 billion, respectively, in the year-ago period. Schering-Plough also reported that its merger with Merck remains on track.
Heska’s Companion Animal Segment Sees Increase In Annual RevenueMay 6, 2009 Heska Corp.’s Companion Animal Division reported product revenue of $13.4 million in the fourth quarter ended Dec. 31, down 22 percent from the year-ago period. However, year to date, the division reported product revenue of $67 million, up 2 percent. Heska’s other segment, which consists of vaccines and pharmaceuticals, reported product revenue of $1.7 million in the fourth quarter, down 34 percent from the year-ago period. Year to date, the segment saw revenue of $13.3 million, down 11 percent from the year-ago period. Overall, the Loveland, Colo., company reported a fourth-quarter net loss of $1.9 million on revenue of $15.4 million, compared to a net income of $30.4 million on revenue of $20 million in the year-ago period. Year to date, Heska reported a net loss of $850,000 on revenue of $81.7 million, compared to a net income of $34.8 million on revenue of $82.3 million in the year-ago period. <HOME>
VCA Antech Inc. - 02-05-2008April 17, 2009 Los Angeles-based VCA Antech Inc. recently reported preliminary financial results of $284 million for its fourth quarter ended Dec. 31 and year to date revenue of $1.16 billion. In addition to the acquisition of Healthy Pet Corp., which included 42 animal hospitals with annual revenue of about $80 million, VCA Antech acquired 29 individual animal hospitals with annual revenue of more than $57 million. “We believe that, historically, the animal healthcare industry and our business have been relatively resistant to changes in the general economy, but not immune to them,” said Bob Antin, chairman and chief executive officer. “However, the fourth quarter results appear to indicate that we were marginally impacted by the uncertainty in the economy. “In addition, the timing of the Christmas and New Year holidays, the California fires, the weather and competition also had an adverse impact on our results. As a result of these factors, during the fourth quarter, and particularly the second half of the quarter, our internal revenue growth slowed. Animal hospital same-store revenue growth for the fourth quarter of 2007 was 2.5 percent and laboratory internal revenue growth was 9.1 percent.” Year to date, animal hospital same-store revenue …
Financial Newswire 02-05-2008April 17, 2009PetMed Express Mail order pet pharmacy PetMed Express of Pompano Beach, Fla., reported a 60 percent increase in net income and a 19 percent increase in revenues for its third quarter ended Dec. 31 , driven in part by growth in its reorders and Internet sales. For the quarter, the company posted net income of $4.4 million on sales of $37.3 million, compared to net income of $2.8 million on sales of $31.4 million in the year-ago period. Year-to-date, the company posted net income of $15.1 million on sales of $147.9 million, compared to net income of $10.8 million on sales of $125.8 million in the year-ago period. Reorder sales grew 28 percent for the quarter to $28.4 million and 23 percent to $103.4 million for the nine-month period. Internet sales, which accounted for about 65 percent of PetMed’s revenues in the third quarter of 2007 compared to 63 percent in 2006, grew 23 percent to $24.4 million for the quarter and 24 percent to $96 million for the nine-month period. Internet and reorder sales boost the company’s profit margins as they allow the company to leverage operating costs. PetMed sales prescription and non-prescription …
Neogen Corp. - 04-28-2008April 17, 2009 Neogen’s animal division recently reported revenue of $11.3 million for its third quarter ended Feb. 29, a 20 percent increase from $9.5 million in the year-ago period. The third quarter saw a 48 percent increase in sales of specialty needles and syringes to be used by manufacturers of veterinary supplements and pharmaceuticals. With the acquisition of Kane Enterprises last year, third-quarter sales of Neogen’s animal over-the-counter products increased 63 percent compared to the year-ago period. Year to date, the division reported revenue of $33.2 million, a 16 percent from $28.7 million in the year-ago period. Overall, Neogen reported net income of $2.7 million on revenue of $25.2 million for its third quarter, compared to net income of $2 million on revenue of $21.1 million in the year-ago period. Year to date, the company reported net income of $8.9 million on revenue of $75.3 million, compared to net income of $6.8 million on revenue of $63.5 million in the year-ago period. Neogen’s animal division is in Lexington, Ky. <HOME>
