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Pets at Home Group

pets · NASDAQ Healthcare
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FY2017 Annual Report · Pets at Home Group
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Fast, Easy, Helpful Service with Great Savings! 

www.1800petmeds.com 

2017 
ANNUAL REPORT 
PetMed Express, Inc. 

To My Fellow Stockholders:
 

In fiscal 2017, the Company made progress in growing both top and bottom line results. For the 
fiscal year ended March 31, 2017 sales were $249.2 million compared to $234.7 million for the 
prior fiscal year, an increase of 6.2%.  For the fiscal year ended March 31, 2017 net income was 
$23.8 million, or $1.17 diluted per share compared to $20.6 million, or $1.02 diluted per share 
a year ago, an increase to net income of 16%.  We were encouraged with increases in both new 
order and reorder sales  and we were also pleased with our advertising efficiency, as our new 
customer acquisition costs were reduced to $34 for fiscal 2017 compared to $45 for fiscal 2016. 
Online sales for the fiscal year were approximately 83% of sales compared to 81% of sales for the 
prior fiscal year, and the average purchase value was approximately $83 for fiscal 2017 compared 
to $81 for fiscal 2016. 

1-800-PetMeds remains committed to returning capital to our stockholders.  During the fiscal 
year, we paid a quarterly dividend of $0.19 per share and in the first quarter of fiscal 2018, the 
quarterly dividend was raised to $0.20 per share. While the Company intends to continue to pay 
regular  quarterly  dividends,  the  declaration  and  payment  of  future  dividends  is  discretionary 
and will be subject to a determination by our Board of Directors each quarter, following its re­
view of the Company’s financial performance.  Since fiscal 2010 the Company has paid a cumula­
tive total of $5.89 per share in dividends.  

According to the American Pet Products Manufacturers Association, pet spending in the United 
States increased 10.7% to $66.9 billion in 2016.  Pet supplies and medications represented $14.7 
billion, or 22% of the total spending on pets in the United States.  The pet medication market 
that we participate in is estimated to be approximately $4.3 billion, with veterinarians having 
the majority of the market share.  The dog and cat population is approximately 184 million, with 
approximately 68% of all households having a pet. 

We are a licensed pharmacy to dispense prescription medications in all 50 states. We offer a wide 
selection of products, over 3,000 SKUs, including a variety of private label products.  We regularly 
research new products, and select new products or the latest generation of existing products to 
become part of our product selection, so that we can offer our customers the best medications, 
supplements, and pet supplies for dogs and cats at affordable prices.  Our customers can en­
joy either the convenience of ordering online at our top-rated website www.1800petmeds.com 
or through our newly-launched mobile app, or over the telephone, where they can experience 
1-800-PetMeds’ exceptional customer care. 

We were very pleased that during the fiscal year we moved into our new corporate headquarters 
and distribution center in Delray Beach, FL and upgraded our infrastructure to better service our 
customers. As the national brand leader and America’s Largest Pet Pharmacy, we continue to 
make it the goal of everyone at 1-800-PetMeds to provide “Fast, Easy, Helpful Service with Great 
Savings!”  We have served over 9.5 million satisfied customers, with approximately 2.3 million 
customers having purchased from us within the last two years.   We are proud that our customer 
service satisfaction rating, as measured by independent companies, continues to well exceed 
other online participants. 

As always, we remain thankful to our loyal customers, dedicated employees, and, you, our 
stockholders, for your ongoing support of 1-800-PetMeds. 

Sincerely, 

PERFORMANCE 
SUMMARY 

Sales 
($ in millions)

$249.2 

$233.4 

$227.8 

$229.4 

$234.7 

 2013 

2014 

2015 

2016 

2017 

Net Income 
($ in millions) 

$17.2 

$18.0

$17.5

$23.8 

$20.6 

 2013 

2014 

2015 

2016 

2017

Earnings per share EPS
(Diluted) 

$1.17 

$1.02 

$0.86 

$0.90

$0.87

 2013 

2014 

2015 

2016 

2017

Dividends declared 
(Per share)

$1.60 

$0.66 

$0.68

$0.72

$0.76 

 2013 

2014 

2015 

2016 

2017 

(all above fiscal years ended on March 31st) 

Menderes Akdag 
President, Chief Executive Officer, Director 
June 12, 2017 

PetMed Express, Inc. 

 
 
 
  
 
  
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
 

 

  

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[This Page Intentionally Left Blank] 

www.1800petmeds.com 

Corporate Information: 

Directors, Executive Officers, and Corporate Secretary 

Robert C. Schweitzer 
Chairman of the Board 
and Independent Director 
Financial Consultant 

Menderes Akdag 
Director, Chief Executive Officer 
and President of the Company 

Frank J. Formica 
Independent Director 
Legal Consultant 

Ronald J. Korn 
Independent Director 
President of Ronald Korn Consulting 

Dr. Gian M. Fulgoni 
Independent Director 
Chief Executive Officer and Co-Founder 
of comScore, Inc. 

Bruce S. Rosenbloom, CPA 
Chief Financial Officer and Treasurer 
of the Company 

Alison Berges, Esq. 
Corporate Secretary and 
General Counsel to the Company 

Corporate Headquarters 
PetMed Express, Inc. 
420 South Congress Ave., Suite 100 
Delray Beach, Florida 33445 

Independent Registered Public Accounting Firm 
RSM US LLP 
West Palm Beach, Florida 

Transfer Agent 
Continental Stock Transfer & Trust Company 
New York, New York 

Stock Exchange Listing 
The NASDAQ Stock Market LLC 
Trading Symbol: PETS 

Annual Meeting 
The Annual Meeting of Stockholders will be held at 1 p.m. Eastern Time, 
July 28, 2017. 

Investor Relations 
PetMed Express, Inc. welcomes inquiries from stockholders and other 
interested investors. You may contact us by phone: (800) 738-6337 or 
(561) 526-4444 or by writing to the corporate headquarters address above. 

QUARTERLY 
STOCK 
PRICE RANGE 
First Quarter 

Fiscal 2017
    High
    Low 

$19.49 
$17.31 

Fiscal 2016
    High
    Low 

$17.73 
$15.82 

Second Quarter 

Fiscal 2017
    High
    Low 

$20.94 
$18.76 

Fiscal 2016
    High
    Low 

$18.23 
$15.72 

Third Quarter 

Fiscal 2017
    High
    Low 

$23.49 
$19.28 

Fiscal 2016
    High
    Low 

$17.88 
$16.04 

Fourth Quarter 

Fiscal 2017
    High
    Low 

$23.66 
$19.26 

Fiscal 2016
    High
    Low 

$18.70 
$15.77 

PetMed Express, Inc. 

You’re 100% satisfied 

or your money back!
 

www.1800petmeds.com