Shares of PetMed Express were trading higher before Monday’s open after reporting better-than-expected fiscal Q1 profit and sales expectation. For Q1 ended June 30, the company reported a profit of $0.45 per share, up from $0.32 a year ago and above the Capital IQ consensus estimate of $0.38 per share.
Total revenue increased to $79.7 million from $72.5 million a year ago, beating the estimated $77.3 million. Additionally, the company will pay a quarterly dividend of $0.20 per share on Aug 18 to shareholders of record as of Aug 7. The dividend is unchanged from the previous quarter, but up a penny from a year ago.