-----BEGIN PRIVACY-ENHANCED MESSAGE-----
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<SEC-DOCUMENT>0000943440-06-000238.txt : 20060725
<SEC-HEADER>0000943440-06-000238.hdr.sgml : 20060725
<ACCEPTANCE-DATETIME>20060725164644
ACCESSION NUMBER:		0000943440-06-000238
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20060724
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20060725
DATE AS OF CHANGE:		20060725

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PETMED EXPRESS INC
		CENTRAL INDEX KEY:			0001040130
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-DRUG STORES AND PROPRIETARY STORES [5912]
		IRS NUMBER:				650680967
		STATE OF INCORPORATION:			FL
		FISCAL YEAR END:			0330

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-28827
		FILM NUMBER:		06979526

	BUSINESS ADDRESS:	
		STREET 1:		1441 SW 29 AVENUE
		CITY:			POMPANO BEACH
		STATE:			FL
		ZIP:			33069
		BUSINESS PHONE:		9549794788

	MAIL ADDRESS:	
		STREET 1:		1441 SW 29 AVENUE
		CITY:			POMPANO BEACH
		STATE:			FL
		ZIP:			33069
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8k-72406.txt
<TEXT>



                          UNITED STATES
               SECURITIES AND EXCHANGE COMMISSION
                      Washington, DC 20549

                            FORM 8-K

                         CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported)    July 24, 2006
                                                  -----------------
                      PETMED EXPRESS, INC.
      ----------------------------------------------------
     (Exact name of registrant as specified in its charter)

  Florida                         000-28827         65-0680967
- ----------------------------------------------------------------------
(State or other jurisdiction     (Commission       (IRS Employer
       of incorporation)         File Number)    Identification No.)

  1441 S.W. 29th Avenue, Pompano Beach, Florida          33069
- ----------------------------------------------------------------------
   (Address of principal executive offices)           (Zip Code)

Registrant's telephone number, including area code    (954) 979-5995
                                                    ------------------

- ----------------------------------------------------------------------
    (Former name or former address, if changed since last report)


Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions (see General Instruction A.2.
below):

     [  ]  Written communications pursuant to Rule 425 under the
           Securities Act (17 CFR 230.425)

     [  ]  Soliciting material pursuant to Rule 14a-12 under the
           Exchange Act (17 CFR 240.14a-12)

     [  ]  Pre-commencement communications pursuant to Rule 14d-
           2(b) under the Exchange Act (17 CFR 240.14d-2(b))

     [  ]  Pre-commencement communications pursuant to Rule 13e-
           4(c) under the Exchange Act (17 CFR 240.13e-4(c))


<PAGE>


Item 2.02 Results of Operation and Financial Condition

     On July 24, 2006, PetMed Express, Inc. issued a press
release announcing its June 30, 2006 quarter end results.  A copy
of this press release is attached hereto as Exhibit 99.1 and is
incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits

  (c)  Exhibits

  99.1 Press Release issued by PetMed Express, Inc. on July 24, 2006


                           SIGNATURES

     Pursuant to the requirements of the Securities Exchange  Act
of  1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.


                                 PETMED EXPRESS, INC.

Date:  July 25, 2006             By: /s/ Menderes Akdag
                                    -----------------------
                                    Menderes Akdag,
                                    Chief Executive Officer and President

                                 By: /s/ Bruce S. Rosenbloom
                                    -------------------------
                                    Bruce S. Rosenbloom,
                                    Chief Financial Officer














<PAGE>


                          EXHIBIT INDEX

Exhibit No.                   Description


99.1 Press Release issued by PetMed Express, Inc. on July 24, 2006

















<PAGE>



</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>form8k72406-ex99.txt
<TEXT>


                          EXHIBIT 99.1

PETMED EXPRESS D/B/A 1-800-PETMEDS ANNOUNCES FIRST QUARTER
FINANCIAL RESULTS - NET INCOME INCREASES 34% TO RECORD $0.20 EPS

Pompano  Beach,  Florida, July 24, 2006 -  PetMed  Express,  Inc.
(NASDAQ:  PETS)  today announced its financial  results  for  the
quarter  ended  June 30, 2006.  Net income was $4.8  million,  or
$0.20  diluted  per share, for the quarter ended June  30,  2006,
compared  to  net  income of $3.5 million, or $0.15  diluted  per
share,  for the quarter ended June 30, 2005, an increase  to  net
income  of  34%.  Net sales for the quarter ended June  30,  2006
were  $50.7  million, compared to $43.6 million for  the  quarter
ended  June 30, 2005, an increase of 16%.  Approximately  59%  of
all  sales  were placed on the Company's website  for  the  first
fiscal quarter, compared to 54% for the same quarter in the prior
year.

Menderes Akdag, CEO and President, commented: "We are pleased  to
report that our retail reorder sales increased by 32%, from $25.8
million to $33.9 million for the quarters ended June 30, 2005 and
2006,  respectively.  We will continue to focus on reorder  sales
in   fiscal   2007  by  initiating  more  relevant   personalized
communication and health education content to build value for our
customers  and  assist them in choosing the  right  products  for
their  pets.   Earlier in the year we made a  strategic  business
decision  to  focus  more  on  retail  customers,  and  to  limit
wholesale  sales.   Our retail sales, excluding wholesale  sales,
increased  by  19%, compared to an increase of 21% for  the  same
quarter  in  the prior year.  We are also pleased to report  that
net  cash  provided  by operating activities  increased  by  $1.8
million, from $8.0 million for the quarter ended June 30, 2005 to
$9.8 million for the quarter ended June 30, 2006."

This  morning at 8:30 A.M. Eastern Time, Mr. Akdag  will  host  a
conference  call to review the quarter's financial  results.   To
access  the call which is open to the public, dial (888) 455-1758
(toll  free)  or  (312) 470-7365.  Callers will  be  required  to
supply  PETMEDS as the passcode.  For those unable to participate
in  the live event, the call will be available for replay from 10
A.M.  on  July  24, 2006 until August 8, 2006 at 11:59  P.M.   To
access the replay, call (866) 419-5472 (toll free) or (203)  369-
0770, and enter passcode 5500.

Founded  in  1996,  PetMed  Express  is  America's  largest   pet
pharmacy,   delivering  prescription  and  non-prescription   pet
medications and other health products for dogs, cats  and  horses
at  competitive prices direct to the consumer through its  1-800-
PetMeds  toll free number and on the Internet through its website
at www.1800petmeds.com.
   --------------------

This  press release may contain "forward-looking" statements,  as
defined  in the Private Securities Litigation Reform Act of  1995
or  by  the  Securities and Exchange Commission, that  involve  a
number  of  risks  and  uncertainties,  including  the  Company's
ability  to  meet the objectives included in its  business  plan.
Important  factors that could cause results to differ  materially
from those indicated by such "forward-looking" statements are set
forth  in  Management's  Discussion  and  Analysis  of  Financial
Condition and Results of Operations in the PetMed Express  Annual
Report  on  Form  10-K for the year ended March  31,  2006.   The
Company's  future  results may also be  impacted  by  other  risk
factors  listed from time to time in its SEC filings,  including,
but not limited to, the Company's Form 10-Q and its Annual Report
on Form 10-K.

For  investment relations contact PetMed Express, Inc., Bruce  S.
Rosenbloom, CFO, 954-979-5995.

                               ###
                         99.1 page 1 - 4


<PAGE>


              PETMED EXPRESS, INC. AND SUBSIDIARIES
              CONDENSED CONSOLIDATED BALANCE SHEETS
<TABLE>
<CAPTION>

                                                        June 30,       March 31,
                                                          2006           2006
                                                      ------------   ------------
                                                       (UNAUDITED)
<S>                                                   <C>            <C>
                         ASSETS
                         ------

Current assets:
   Cash and cash equivalents                          $ 33,122,948   $ 23,216,907
   Accounts receivable, less allowance for doubtful
      accounts of $28,000 and $23,000, respectively      1,385,615      1,155,781
   Inventories - finished goods                         13,738,142     14,997,675
   Prepaid expenses and other current assets               689,589        583,038
                                                      ------------   ------------
          Total current assets                          48,936,294     39,953,401

   Property and equipment, net                           1,565,265      1,497,589
   Deferred income taxes                                   828,198        794,002
   Intangible asset                                        365,000        365,000
   Other assets                                             14,167         14,167
                                                      ------------   ------------

Total assets                                          $ 51,708,924   $ 42,624,159
                                                      ============   ============

             LIABILITIES AND SHAREHOLDERS' EQUITY
             ------------------------------------

Current liabilities:
   Accounts payable                                   $  4,931,812   $  3,052,953
   Income taxes payable                                  2,615,540        958,318
   Accrued expenses and other current liabilities        1,167,061        973,359
                                                      ------------   ------------

Total liabilities                                        8,714,413      4,984,630
                                                      ------------   ------------

Commitments and contingencies

Shareholders' equity:
   Preferred stock, $.001 par value, 5,000,000 shares
    authorized;
     2,500 convertible shares issued and outstanding
      with a liquidation preference of $4 per share          8,898          8,898
   Common stock, $.001 par value, 40,000,000 shares
    authorized;
     24,043,208 and 23,967,390 shares issued and
     outstanding, respectively                               24,043        23,967
   Additional paid-in capital                            14,037,702    13,433,054
   Retained earnings                                     28,923,868    24,173,610
                                                       ------------  ------------

          Total shareholders' equity                     42,994,511    37,639,529
                                                       ------------  ------------

Total liabilities and shareholders' equity             $ 51,708,924  $ 42,624,159
                                                       ============  ============
</TABLE>
                         99.1 page 2 - 4


<PAGE>



               PETMED EXPRESS, INC. AND SUBSIDIARIES
           CONDENSED CONSOLIDATED STATEMENTS OF INCOME
                          (UNAUDITED)

<TABLE>
<CAPTION>
                                                                Three Months Ended
                                                                    June 30,
                                                               2006           2005
                                                           ------------   ------------
<S>                                                        <C>            <C>

 Sales                                                     $ 50,673,353   $ 43,631,758
 Cost of sales                                               30,549,028     26,773,172
                                                           ------------   ------------

 Gross profit                                                20,124,325     16,858,586
                                                           ------------   ------------

 Operating expenses:
      General and administrative                              4,448,622      3,852,894
      Advertising                                             8,328,718      7,604,303
      Depreciation and amortization                             135,301        127,545
                                                           ------------   ------------
 Total operating expenses                                    12,912,641     11,584,742
                                                           ------------   ------------

 Income from operations                                       7,211,684      5,273,844
                                                           ------------   ------------
 Other income (expense):
      Loss on disposal of property and equipment                 (1,250)             -
      Interest income                                           251,167         99,437
      Other, net                                                100,402         40,287
                                                           ------------   ------------
 Total other income (expense)                                   350,319        139,724
                                                           ------------   ------------

 Income before provision for income taxes                     7,562,003      5,413,568

 Provision for income taxes                                   2,811,745      1,871,982
                                                           ------------   ------------

 Net income                                                $  4,750,258   $  3,541,586
                                                           ============   ============
 Net income per common share:
       Basic                                               $       0.20   $       0.15
                                                           ============   ============
       Dilutive                                            $       0.20   $       0.15
                                                           ============   ============

 Weighted average number of common shares outstanding:
       Basic                                                 24,009,276     23,471,264
                                                           ============   ============
       Dilutive                                              24,300,946     23,969,197
                                                           ============   ============
</TABLE>
                         99.1 page 3 - 4


<PAGE>


             PETMED EXPRESS, INC. AND SUBSIDIARIES
       CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                         (UNAUDITED)
<TABLE>
<CAPTION>

                                                               Three Months Ended
                                                                     June 30,
                                                               2006          2005
                                                           ------------  ------------
<S>                                                        <C>           <C>
Cash flows from operating activities:
 Net income                                                $  4,750,258  $  3,541,586
 Adjustments to reconcile net income to net cash
   provided by operating activities:
     Depreciation and amortization                              135,301       127,545
     Compensation expense relating to stock option issuances    223,146
     Tax benefit related to stock options exercised              79,719        38,110
     Deferred income taxes                                      (34,196)      (13,090)
     Loss on disposal of property and equipment                   1,250             -
     Bad debt expense (recovery)                                 25,129         2,362
     (Increase) decrease in operating assets
       and increase (decrease) in liabilities:
        Accounts receivable                                    (254,963)     (118,064)
        Inventories - finished goods                          1,259,533     1,084,163
        Prepaid expenses and other current assets              (106,551)        9,249
        Accounts payable                                      1,878,859     1,446,109
        Income taxes payable                                  1,657,222     1,204,830
        Accrued expenses and other current liabilities          193,702       631,980
                                                           ------------  ------------
        Net cash provided by operating activities             9,808,409     7,954,780
                                                           ------------  ------------

 Cash flows from investing activities:
    Purchases of property and equipment                        (204,627)      (12,104)
    Net proceeds from the sale of property and equipment            400             -
                                                           ------------  ------------
 Net cash used in investing activities                         (204,227)      (12,104)
                                                           ------------  ------------
 Cash flows from financing activities:
    Proceeds from the exercise of stock options                 301,859        84,099
                                                           ------------  ------------
 Net cash provided by financing activities                      301,859        84,099
                                                           ------------  ------------

 Net increase in cash and cash equivalents                    9,906,041     8,026,775
 Cash and cash equivalents, at beginning of period           23,216,907    12,680,962
                                                           ------------  ------------

 Cash and cash equivalents, at end of period               $ 33,122,948  $ 20,707,737
                                                           ============  ============
 Supplemental disclosure of cash flow information:

    Cash paid for income taxes                             $  1,109,000  $    642,132
                                                           ============  ============
</TABLE>

                         99.1 page 4 - 4




<PAGE>

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
