PetMed Express (PETS)

Cost of sales

Cost of sales increased by $19,963,000, or 17.5%, to $134,085,000 for the fiscal year ended March 31, 2009, from $114,122,000 for the fiscal year ended March 31, 2008.  The increase in cost of sales is directly related to the increase in sales in fiscal 2009 as compared to fiscal 2008.  As a percent of sales, the cost of sales was 61.1% in fiscal 2009, as compared to 60.6% in fiscal 2008.  The percentage increase can be mainly attributed to increases in our product costs, offset by a reduction in freight expenses due to a shift from priority to standard shipping.

Cost of sales

Cost of sales increased by $19,963,000, or 17.5%, to $134,085,000 for the fiscal year ended March 31, 2009, from $114,122,000 for the fiscal year ended March 31, 2008.  The increase in cost of sales is directly related to the increase in sales in fiscal 2009 as compared to fiscal 2008.  As a percent of sales, the cost of sales was 61.1% in fiscal 2009, as compared to 60.6% in fiscal 2008.  The percentage increase can be mainly attributed to increases in our product costs, offset by a reduction in freight expenses due to a shift from priority to standard shipping.

Cost of sales

Cost of sales increased by $16,442,000, or 16.8%, to $114,122,000 for the fiscal year ended March 31, 2008, from $97,680,000 for the fiscal year ended March 31, 2007.  The increase in cost of sales is directly related to the increase in retail sales in fiscal 2008 as compared to fiscal 2007.  As a percent of sales, the cost of sales was 60.6% in fiscal 2008, as compared to 60.2% in fiscal 2007.  The percentage increase can be mainly attributed to increases in our product and freight costs offset by a shift in our product mix to higher margin items.

Cost of sales

Cost of sales increased by $16,442,000, or 16.8%, to $114,122,000 for the fiscal year ended March 31, 2008, from $97,680,000 for the fiscal year ended March 31, 2007.  The increase in cost of sales is directly related to the increase in retail sales in fiscal 2008 as compared to fiscal 2007.  As a percent of sales, the cost of sales was 60.6% in fiscal 2008, as compared to 60.2% in fiscal 2007.  The percentage increase can be mainly attributed to increases in our product and freight costs offset by a shift in our product mix to higher margin items.

Cost of sales

Cost of sales increased by approximately $3,913,000, or 17.6%, to approximately $26,089,000 for the quarter ended December 31, 2008, from approximately $22,176,000 for the quarter ended December 31, 2007.  For the nine months ended December 31, 2008, cost of sales increased by approximately $14,985,000, or 16.6%, to approximately $105,376,000 compared to cost of sales of approximately $90,391,000 for the nine months ended December 31, 2007.  The increase in cost of sales for the three and nine months ended December 31, 2008 is directly related to the increase in sales.  As a percent of sales, the cost of sales was 60.1% and 59.4% for the three months ended December 31, 2008 and 2007, respectively, and for the nine months ended December 31, 2008 and 2007, the cost of sales was 61.5% and 61.1%, respectively.  The percentage increase for the three and nine months ended December 31, 2008 can be attributed to increases in our product costs, offset by a reduction in freight expenses due to a shift from priority to standard shipping.

Cost of sales

Cost of sales increased by approximately $4,828,000, or 15.1%, to approximately $36,711,000 for the quarter ended September 30, 2008, from approximately $31,883,000 for the quarter ended September 30, 2007.  For the six months ended September 30, 2008, cost of sales increased by approximately $11,072,000, or 16.2%, to approximately $79,287,000 compared to cost of sales of approximately $68,215,000 for the six months ended September 30, 2007.  The increase in cost of sales for the three and six months ended September 30, 2008 is directly related to the increase in sales.  As a percent of sales, the cost of sales was 61.6% and 61.9% for the three months ended September 30, 2008 and 2007, respectively, and for the six months ended September 30, 2008 and 2007, the cost of sales was 62.0% and 61.7%, respectively.  The percentage decrease for the three months ended September 30, 2008 can be attributed to a reduction in freight expenses due to a shift from priority to standard shipping, offset by increases to product costs.  The percentage increase for the six months ended September 30, 2008 can be attributed to increases in our product costs, offset by the aforementioned freight reduction.

Cost of sales

Cost of sales increased by approximately $6,244,000, or 17.2%, to approximately $42,576,000 for the quarter ended June 30, 2008, from approximately $36,332,000 for the quarter ended June 30, 2007.  The increase in cost of sales is directly related to the increase in sales in the quarter ended June 30, 2008 compared to the quarter ended June 30, 2007.  As a percent of sales, the cost of sales was 62.3% and 61.6% for the quarters ended June 30, 2008 and 2007, respectively.  The percentage increase can be attributed to increases in our product costs, offset by a reduction in freight expenses due to a shift from priority to standard shipping.

Cost of sales

Cost of sales increased by $14,436,000, or 17.3%, to $97,680,000 for the fiscal year ended March 31, 2007, from $83,244,000 for the fiscal year ended March 31, 2006.  The increase in cost of sales is directly related to the increase in retail sales in fiscal 2007 as compared to fiscal 2006.  As a percent of sales, the cost of sales was 60.2% in fiscal 2007, as compared to 60.5% in fiscal 2006.  The percentage decrease can be mainly attributed to a decrease in our wholesale sales, which had a higher cost of sales percentage, and due to a shift in our product mix to higher gross profit margin items, offset by additional price discounts given to customers.

Cost of sales

Cost of sales increased by $14,436,000, or 17.3%, to $97,680,000 for the fiscal year ended March 31, 2007, from $83,244,000 for the fiscal year ended March 31, 2006.  The increase in cost of sales is directly related to the increase in retail sales in fiscal 2007 as compared to fiscal 2006.  As a percent of sales, the cost of sales was 60.2% in fiscal 2007, as compared to 60.5% in fiscal 2006.  The percentage decrease can be mainly attributed to a decrease in our wholesale sales, which had a higher cost of sales percentage, and due to a shift in our product mix to higher gross profit margin items, offset by additional price discounts given to customers.