-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 TbK08LpVKh6qg7dNREwPcp/o6sCFE5BT3mo13qpJWLTVdtvZ2p8Xsq7HA1RbgwsE
 DiJ4s9+z07Nqh9Fojqan2A==

<SEC-DOCUMENT>0000943440-08-000179.txt : 20080513
<SEC-HEADER>0000943440-08-000179.hdr.sgml : 20080513
<ACCEPTANCE-DATETIME>20080513113646
ACCESSION NUMBER:		0000943440-08-000179
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20080512
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20080513
DATE AS OF CHANGE:		20080513

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:		08826340

	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-may1208.txt
<TEXT>


                          UNITED STATES
               SECURITIES AND EXCHANGE COMMISSION
                     Washington, D.C. 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): May 12, 2008

                       PetMed Express, Inc.
- -----------------------------------------------------------------
      (Exact name of registrant as specified in its charter)

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


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


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


                         Not Applicable
- -----------------------------------------------------------------
  (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 8.01   Other Events.

  On  May  12, 2008, PetMed Express, Inc. issued a press  release
announcing its March 31, 2008 year end financial 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.

        (d) Exhibits.

            99.1 - Press release dated May 12, 2008.

                          EXHIBIT INDEX

Exhibit No.  Description
- ----------   -----------

99.1         Press release dated May 12, 2008


                           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.

Dated: May 13, 2008

                                  PETMED EXPRESS, INC.

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


                                2

=================================================================


<PAGE>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>form8k-may1208ex991.txt
<TEXT>

                                                    Exhibit 99.1

PETMED EXPRESS D/B/A 1-800-PETMEDS ANNOUNCES RECORD FINANCIAL
RESULTS FOR FISCAL 2008 - PROFITS INCREASED 39% TO EPS $0.82

Pompano  Beach,  Florida, May 12, 2008 -  PetMed  Express,  Inc.
(NASDAQ:  PETS)  today announced its financial results  for  the
fiscal year ended March 31, 2008.  Net sales for the year  ended
March  31, 2008 were $188.3 million, compared to $162.2  million
for  the  year ended March 31, 2007, an increase  of  16%.   Net
income  was $20.0 million, or $0.82 diluted per share,  for  the
year  ended  March  31, 2008, compared to net  income  of  $14.4
million,  or  $0.60 diluted per share, for the year ended  March
31,  2007,  an increase to net income of 39%.  For  the  quarter
ended March 31, 2008, net sales were $40.4 million, compared  to
$36.4  million for the quarter ended March 31, 2007, an increase
of  11%.   Net income for the quarter ended March 31,  2008  was
$4.9 million, or $0.20 diluted per share, compared to net income
of  $3.6  million,  or  $0.15 diluted per share,  for  the  same
quarter  the prior year, an increase to net income of 35%.   The
Company acquired approximately 710,000 new customers during  the
fiscal   year  compared  to  681,000  during  the  prior   year.
Approximately  65%  of  all orders were placed  on  its  website
during the fiscal year, compared to 62% during the prior year.

Mendo  Akdag,  CEO and President, commented: "We  are  proud  to
report  high profitability for the year, which can be attributed
to strong reorder growth and our success in leveraging operating
expenses.   Our retail reorder sales increased 22%, from  $110.5
million  to $134.3 million, for the years ended March  31,  2007
and 2008, respectively.  Our operating expenses as a percent  of
sales  improved 200 basis points for the fiscal year ended March
31,  2008  compared to the prior fiscal year. We are pleased  to
report  that  our  Internet sales increased  by  21%  to  $122.5
million  for the year ended March 31, 2008, compared  to  $100.9
million  for the prior fiscal year.  During the fiscal  year  we
repurchased  approximately  952,000 shares  of  our  outstanding
common  stock for approximately $11.6 million, pursuant  to  the
Company's   $20.0   million  stock  buy  back  plan,   averaging
approximately $12.19 per share.  Our focus in fiscal  2009  will
be  on capturing additional market share, and improving reorders
and  our customer service levels.  We have agreed to extend  our
current  lease  for our corporate headquarters until  2012,  and
have  added  another  15,000  square  feet,  primarily  for  the
extension of our warehouse and pharmacy operations, in order  to
support our future growth."

This  morning at 8:30 A.M. Eastern Time, Mr. Akdag will  host  a
conference  call to review the year-end financial  results.   To
access the call which is open to the public, dial (888) 455-1758
(toll  free)  or  (210) 234-0009.  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 May 12, 2008 until May 26, 2008 at 11:59 P.M.  To access
the  replay, call (800) 839-1176 (toll free) or (402)  998-1048,
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,  2007.   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.

                               ###
                    Exhibit 99.1 Page 1 of 4

=================================================================

<PAGE>


            PETMED EXPRESS, INC. AND SUBSIDIARIES
                  CONSOLIDATED BALANCE SHEETS
<TABLE>
<CAPTION>
                                                               March 31,
                                                          2008           2007
                                                      ------------   ------------
<S>                                                   <C>            <C>
                             ASSETS
                             ------
Current assets:
  Cash and cash equivalents                           $ 20,267,829   $    316,470
  Temporary investments                                  4,780,000     39,125,000
  Accounts receivable, less allowance for doubtful
   accounts of $32,040 and $27,727, respectively         1,575,263      1,369,521
  Inventories - finished goods                          17,909,549     16,086,207
  Prepaid expenses and other current assets                691,859      1,071,171
                                                      ------------   ------------
     Total current assets                               45,224,500     57,968,369

  Long term investments                                 24,740,000              -
  Property and equipment, net                            1,903,294      1,990,578
  Deferred income taxes                                  1,221,853        894,540
  Intangible asset                                         365,000        365,000
                                                      ------------   ------------

Total assets                                          $ 73,454,647   $ 61,218,487
                                                      ============   ============

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

Current liabilities:
  Accounts payable                                    $  4,358,774   $  5,859,756
  Income taxes payable                                     185,243        229,321
  Accrued expenses and other current liabilities         1,876,655      1,265,837
                                                      ------------   ------------

Total liabilities                                        6,420,672      7,354,914
                                                      ------------   ------------
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; 23,734,067 and 24,309,417
     shares issued, respectively                            23,734         24,309
  Additional paid-in capital                             8,396,277     15,213,254
  Retained earnings                                     58,639,343     38,617,112
  Less treasury stock, at cost, 3,100 and 0 shares,
     respectively                                          (34,277)             -
                                                      ------------   ------------

     Total shareholders' equity                         67,033,975     53,863,573
                                                      ------------   ------------

Total liabilities and shareholders' equity            $ 73,454,647   $ 61,218,487
                                                      ============   ============
</TABLE>
                    Exhibit 99.1 Page 2 of 4


<PAGE>


                                  PETMED EXPRESS, INC. AND SUBSIDIARIES
                                    CONSOLIDATED STATEMENTS OF INCOME
<TABLE>
<CAPTION>
                                                      Year Ended March 31,         Quarter Ended March 31,
                                                      2008           2007           2008           2007
                                                 -------------  -------------  -------------  -------------
                                                                                         (UNAUDITED)
<S>                                              <C>            <C>            <C>            <C>
Sales                                            $ 188,336,469  $ 162,246,407  $  40,423,170  $  36,408,023
Cost of sales                                      114,122,433     97,680,238     23,731,798     21,677,697
                                                 -------------  -------------  -------------  -------------

Gross profit                                        74,214,036     64,566,169     16,691,372     14,730,326
                                                 -------------  -------------  -------------  -------------
Operating expenses:
  General and administrative                        20,367,392     17,292,675      4,865,084      4,500,498
  Advertising                                       25,261,042     25,243,029      4,536,021      4,472,329
  Depreciation and amortization                        589,990        530,440        154,956        134,933
                                                 -------------  -------------  -------------  -------------
Total operating expenses                            46,218,424     43,066,144      9,556,061      9,107,760
                                                 -------------  -------------  -------------  -------------

Income from operations                              27,995,612     21,500,025      7,135,311      5,622,566
                                                 -------------  -------------  -------------  -------------
Other income (expense):
  Interest income, net                               1,771,653      1,266,150        443,962        349,025
  Other, net                                           643,880        435,824        108,534        103,695
  Loss on disposal of property and equipment                 -         (1,250)             -              -
                                                 -------------  -------------  -------------  -------------
Total other income (expense)                         2,415,533      1,700,724        552,496        452,720
                                                 -------------  -------------  -------------  -------------

Income before provision for income taxes            30,411,145     23,200,749      7,687,807      6,075,286

Provision for income taxes                          10,388,914      8,757,247      2,784,368      2,451,247
                                                 -------------  -------------  -------------  -------------

Net income                                       $  20,022,231  $  14,443,502  $   4,903,439  $   3,624,039
                                                 =============  =============  =============  =============
Net income per common share:
  Basic                                          $        0.83  $        0.60  $        0.21  $        0.15
                                                 =============  =============  =============  =============
  Diluted                                        $        0.82  $        0.60  $        0.20  $        0.15
                                                 =============  =============  =============  =============

Weighted average number of common shares outstanding:

  Basic                                             24,088,258     24,109,035     23,823,046     24,151,983
                                                 =============  =============  =============  =============
  Diluted                                           24,299,364     24,270,879     24,007,498     24,329,822
                                                 =============  =============  =============  =============
</TABLE>
                                   Exhibit 99.1 Page 3 of 4


<PAGE>


                            PETMED EXPRESS, INC. AND SUBSIDIARIES
                            CONSOLIDATED STATEMENTS OF CASH FLOWS
<TABLE>
<CAPTION>
                                                                   Year Ended March 31,
                                                           2008           2007           2006
                                                      -------------  -------------  -------------
<S>                                                   <C>            <C>            <C>
Cash flows from operating activities:
  Net income                                          $  20,022,231  $  14,443,502  $  12,063,514
  Adjustments to reconcile net income to net cash
    provided by operating activities:
     Depreciation and amortization                          589,990        530,440        544,535
     Share based compensation                             1,679,600      1,095,740              -
     Tax benefit related to stock options exercised               -              -        342,920
     Deferred income taxes                                 (327,313)      (100,538)      (211,156)
     Loss on disposal of property and equipment                   -          1,250          1,719
     Bad debt expense (recovery)                             40,823         29,554         (1,709)
     (Increase) decrease in operating assets
       and increase (decrease) in liabilities:
        Accounts receivable                                (246,565)      (243,294)       642,684
        Inventories - finished goods                     (1,823,342)    (1,088,532)    (3,817,342)
        Prepaid expenses and other current assets           379,312       (488,133)      (369,886)
        Other assets                                              -         14,167              -
        Accounts payable                                 (1,500,982)     2,806,803        327,963
        Income taxes payable                                (44,078)      (728,997)       356,783
        Accrued expenses and other current liabilities      610,818        292,478        397,465
                                                      -------------  -------------  -------------
Net cash provided by operating activities                19,380,494     16,564,440     10,277,490
                                                      -------------  -------------  -------------
Cash flows from investing activities:
  Net change in investments                               9,605,000    (16,275,000)   (11,050,000)
  Purchases of property and equipment                      (502,706)    (1,025,079)      (758,176)
  Net proceeds from the sale of property and equipment            -            400            600
                                                      -------------  -------------  -------------
Net cash provided by (used in) investing activities       9,102,294    (17,299,679)   (11,807,576)
                                                      -------------  -------------  -------------
Cash flows from financing activities:
  Purchases of treasury stock                           (11,600,721)             -              -
  Proceeds from the exercise of stock options             2,784,987        442,084      1,016,031
  Tax benefit related to stock options exercised            284,305        242,718              -
                                                      -------------  -------------  -------------
Net cash (used in) provided by financing activities      (8,531,429)       684,802      1,016,031
                                                      -------------  -------------  -------------

Net increase (decrease) in cash and cash equivalents     19,951,359        (50,437)      (514,055)
Cash and cash equivalents, at beginning of year             316,470        366,907        880,962
                                                      -------------  -------------  -------------

Cash and cash equivalents, at end of year             $  20,267,829  $     316,470  $     366,907
                                                      =============  =============  =============
Supplemental disclosure of cash flow information:

  Cash paid for income taxes                          $  10,331,000  $   9,344,063  $   6,483,132
                                                      =============  =============  =============

  Retirement of treasury stock                        $  11,566,444  $           -  $           -
                                                      =============  =============  =============
</TABLE>
                              Exhibit 99.1 Page 4 of 4


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