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<SEC-DOCUMENT>0000943440-09-000390.txt : 20090721
<SEC-HEADER>0000943440-09-000390.hdr.sgml : 20090721
<ACCEPTANCE-DATETIME>20090721112119
ACCESSION NUMBER:		0000943440-09-000390
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20090721
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20090721
DATE AS OF CHANGE:		20090721

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:		09954485

	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>petmed_8k.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>
<!doctype html public "-//IETF//DTD HTML//EN">
<HTML>
<HEAD>
<TITLE>PETMED EXPRESS</TITLE>
<META NAME="author" CONTENT="EDGAR Online HTML to RTF Converter. Version 3.0">
<META NAME="date" CONTENT="07/21/2009">
</HEAD>
<BODY style="line-height:12pt; font-family:Times New Roman; font-size:10pt; color:#000000">
<A NAME="eolPage1"></A><P style="margin:0px">&nbsp;<A NAME="FIS_TOP_OF_DOCUMENT"></A>&nbsp;<A NAME="B416715_8K_HTM"></A>&nbsp;<A NAME="FIS_FORM"></A>&nbsp;<A NAME="FIS_UNIDENTIFIED_TABLE"></A></P>
<P style="margin-top:12.533px; margin-bottom:0px; font-family:Arial" align=center><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</B></P>
<P style="margin-top:12.533px; margin-bottom:0px; font-family:Arial" align=center><B>FORM 8-K</B></P>
<P style="margin-top:12.533px; margin-bottom:0px; font-family:Arial" align=center><B>CURRENT REPORT<BR>
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</B></P>
<P style="margin-top:12.533px; margin-bottom:0px; font-family:Arial" align=center>Date of report (Date of earliest event reported): July 21, 2009</P>
<P style="line-height:11.25pt; margin:0px"><BR></P>
<TABLE style="font-size:10pt" cellspacing=0 align=center><TR height=0 style="font-size:0"><TD width=24.267></TD><TD width=129.333></TD><TD width=153.6></TD><TD width=153.6></TD><TD width=153.6></TD><TD width=153.6></TD></TR>
<TR><TD valign=top width=24.267><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD><TD valign=top width=743.733 colspan=5><P style="margin:0px; padding-right:1.067px; font-family:Arial" align=center><B><U>PetMed Express, Inc.<BR>
</U></B> (Exact name of registrant as specified in its charter)</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=top width=153.6 colspan=2><P>&nbsp;</P></TD><TD style="background-color:#FFFFFF" valign=top width=153.6><P>&nbsp;</P></TD><TD style="background-color:#FFFFFF" valign=top width=153.6><P>&nbsp;</P></TD><TD style="background-color:#FFFFFF" valign=top width=153.6><P>&nbsp;</P></TD><TD style="background-color:#FFFFFF" valign=top width=153.6><P>&nbsp;</P></TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=top width=153.6 colspan=2><P style="margin:0px; padding-right:1.067px; font-family:Arial" align=center><B><U>Florida</U></B></P>
</TD><TD style="background-color:#FFFFFF" valign=top width=153.6><P>&nbsp;</P></TD><TD style="background-color:#FFFFFF" valign=top width=153.6><P style="margin:0px; padding-right:1.067px; font-family:Arial" align=center><B><U>000-28827</U></B></P>
</TD><TD style="background-color:#FFFFFF" valign=top width=153.6><P>&nbsp;</P></TD><TD style="background-color:#FFFFFF" valign=top width=153.6><P style="margin:0px; padding-right:1.067px; font-family:Arial" align=center><B><U>65-0680967</U></B></P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=top width=153.6 colspan=2><P style="margin:0px; padding-right:1.067px; font-family:Arial" align=center>(State or other jurisdiction<BR>
of incorporation)</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=153.6><P>&nbsp;</P></TD><TD style="background-color:#FFFFFF" valign=top width=153.6><P style="margin:0px; padding-right:1.067px; font-family:Arial" align=center>(Commission<BR>
File Number)</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=153.6><P>&nbsp;</P></TD><TD style="background-color:#FFFFFF" valign=top width=153.6><P style="margin:0px; padding-right:1.067px; font-family:Arial" align=center>(I.R.S. Employer<BR>
Identification No.)</P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR>
<BR></P>
<TABLE style="font-size:10pt" cellspacing=0 align=center><TR height=0 style="font-size:0"><TD width=768></TD></TR>
<TR><TD valign=top width=768><P style="margin:0px; padding-right:1.067px; font-family:Arial" align=center><B><U>1441 S.W. 29<SUP>th</SUP> Avenue, &nbsp;Pompano Beach, FL &nbsp;33069</U></B></P>
</TD></TR>
<TR><TD valign=top width=768><P style="margin:0px; padding-right:1.067px; font-family:Arial" align=center>(Address of principal executive offices) (Zip Code)</P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR>
<BR></P>
<TABLE style="font-size:10pt" cellspacing=0 align=center><TR height=0 style="font-size:0"><TD width=751.4></TD><TD width=16.6></TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=top width=751.4><P style="margin:0px; padding-right:1.067px; font-family:Arial" align=center><B><U>(954) 979-5995</U></B></P>
</TD><TD style="background-color:#FFFFFF" valign=top width=16.6><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=top width=751.4><P style="margin:0px; padding-right:1.067px; font-family:Arial" align=center>(Registrant&#146;s telephone number, including area code)</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=16.6><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR>
<BR></P>
<TABLE style="font-size:10pt" cellspacing=0 align=center><TR height=0 style="font-size:0"><TD width=768></TD></TR>
<TR><TD valign=top width=768><P style="margin:0px; padding-right:1.067px; font-family:Arial" align=center><B><U>Not Applicable</U></B></P>
</TD></TR>
<TR><TD valign=top width=768><P style="margin:0px; padding-right:1.067px; font-family:Arial" align=center>(Former name or former address, if changed since last report)</P>
</TD></TR>
</TABLE>
<P style="margin-top:12.533px; margin-bottom:0px; font-family:Arial">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):</P>
<P style="line-height:11.25pt; margin:0px"><BR></P>
<TABLE style="font-size:10pt" cellspacing=0><TR height=0 style="font-size:0"><TD width=24.267></TD><TD width=743.733></TD></TR>
<TR><TD valign=top width=24.267><P style="margin:0px; font-family:Wingdings">&#168;</P>
</TD><TD valign=top width=743.733><P style="margin:0px; padding-right:1.067px; font-family:Arial">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>
</TD></TR>
<TR><TD valign=top width=24.267><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD><TD valign=top width=743.733><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=24.267><P style="margin:0px; font-family:Wingdings">&#168;</P>
</TD><TD valign=top width=743.733><P style="margin:0px; padding-right:1.067px; font-family:Arial">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>
</TD></TR>
<TR><TD valign=top width=24.267><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD><TD valign=top width=743.733><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=24.267><P style="margin:0px; font-family:Wingdings">&#168;</P>
</TD><TD valign=top width=743.733><P style="margin:0px; padding-right:1.067px; font-family:Arial">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>
</TD></TR>
<TR><TD valign=top width=24.267><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD><TD valign=top width=743.733><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=24.267><P style="margin:0px; font-family:Wingdings">&#168;</P>
</TD><TD valign=top width=743.733><P style="margin:0px; padding-right:1.067px; font-family:Arial">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>
</TD><A NAME="eolPage2"></A><A NAME="FIS_OTHER_EVENTS"></A></TR>
</TABLE>
<P style="line-height:11.25pt; margin:0px"><BR>
<BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="line-height:11.25pt; margin:0px; page-break-before:always"><BR>
<BR></P>
<TABLE style="font-size:10pt" cellspacing=0><TR height=0 style="font-size:0"><TD width=24.267></TD><TD width=743.733></TD></TR>
</TABLE>
<P style="line-height:0.05pt; margin:0px"><BR></P>
<P style="margin-top:12.533px; margin-bottom:0px; font-family:Arial"><B>Item 8.01&nbsp;&nbsp;&nbsp;Other Events.</B></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; text-indent:24px; font-family:Arial" align=justify>On July 20, 2009, PetMed Express, Inc. issued a press release announcing its June 30, 2009 quarter end financial results. &nbsp;A copy of this press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.</P>
<P style="margin-top:12.533px; margin-bottom:0px; font-family:Arial"><B>Item 9.01&nbsp;&nbsp;&nbsp;Financial Statements and Exhibits.</B></P>
<P style="line-height:11.25pt; margin:0px"><BR></P>
<TABLE style="font-size:10pt" cellspacing=0><TR height=0 style="font-size:0"><TD width=77.733></TD><TD width=24.2></TD><TD width=666.067></TD></TR>
<TR><TD valign=top width=77.733><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD><TD valign=top width=24.2><P style="margin:0px; padding-right:1.067px; font-family:Arial">(d)</P>
</TD><TD valign=top width=666.067><P style="margin:0px; padding-right:1.067px; font-family:Arial">Exhibits.</P>
</TD></TR>
<TR><TD valign=top width=77.733><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD><TD valign=top width=24.2><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD><TD valign=top width=666.067><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=77.733><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD><TD valign=top width=24.2><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD><TD valign=top width=666.067><P style="margin:0px; padding-right:1.067px; font-family:Arial">99.1 &#150; Press release dated July 20, 2009</P>
</TD><A NAME="FIS_EXHIBIT_INDEX"></A><A NAME="FIS_SIGNATURES"></A></TR>
</TABLE>
<P style="margin-top:12.533px; margin-bottom:0px; font-family:Arial" align=center><B>SIGNATURES</B></P>
<P style="margin-top:12.533px; margin-bottom:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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.</P>
<P style="margin-top:12.533px; margin-bottom:0px; font-family:Arial">Dated: July 21, 2009</P>
<P style="line-height:11.25pt; margin:0px"><BR></P>
<TABLE style="font-size:10pt" cellspacing=0 align=center><TR height=0 style="font-size:0"><TD width=383.333></TD><TD width=46.4></TD><TD width=338.267></TD></TR>
<TR><TD valign=top width=383.333><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD><TD valign=top width=384.667 colspan=2><P style="margin:0px; padding-right:2.4px; font-family:Arial">PETMED EXPRESS, INC.</P>
</TD></TR>
<TR><TD valign=top width=383.333><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD><TD valign=top width=46.4><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD><TD valign=top width=338.267><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=383.333><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD><TD valign=top width=46.4><P style="margin:0px; padding-right:1.067px; font-family:Arial">By:</P>
</TD><TD valign=top width=338.267><P style="margin:0px; padding-right:1.067px; font-family:Arial"><U>/s/ Bruce S. Rosenbloom</U></P>
</TD></TR>
<TR><TD valign=top width=383.333><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD><TD valign=top width=46.4><P style="margin:0px; padding-right:1.067px; font-family:Arial">Name:</P>
</TD><TD valign=top width=338.267><P style="margin:0px; padding-right:1.067px; font-family:Arial">Bruce S. Rosenbloom</P>
</TD></TR>
<TR><TD valign=top width=383.333><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD><TD valign=top width=46.4><P style="margin:0px; padding-right:1.067px; font-family:Arial">Title:</P>
</TD><TD valign=top width=338.267><P style="margin:0px; padding-right:1.067px; font-family:Arial">Chief Financial Officer</P>
</TD></TR>
<TR><TD valign=top width=383.333><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD><TD valign=top width=46.4><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD><TD valign=top width=338.267><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD></TR>
</TABLE>
<P style="line-height:14pt; margin-top:15px; margin-bottom:0px; font-size:12pt" align=center>2</P>
<P style="margin-top:15px; margin-bottom:0px" align=center><BR>
<BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin-top:12.533px; margin-bottom:0px; font-family:Arial; page-break-before:always" align=center><B>EXHIBIT INDEX</B></P>
<P style="line-height:11.25pt; margin:0px"><BR></P>
<TABLE style="font-size:10pt" cellspacing=0><TR height=0 style="font-size:0"><TD width=80.8></TD><TD width=17.133></TD><TD width=652.933></TD><TD width=17.133></TD></TR>
<TR><TD valign=top width=80.8><P style="margin:0px; padding-right:1.067px; font-family:Arial"><U>Exhibit No.</U></P>
</TD><TD valign=top width=17.133><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD><TD valign=top width=652.933><P style="margin:0px; padding-right:1.067px; font-family:Arial"><U>Description</U></P>
</TD><TD valign=top width=17.133><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=80.8><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD><TD valign=top width=17.133><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD><TD valign=top width=652.933><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD><TD valign=top width=17.133><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=top width=80.8><P style="margin:0px; padding-right:1.067px; font-family:Arial">99.1</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=17.133><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=652.933><P style="margin:0px; padding-right:1.067px; font-family:Arial">Press release dated July 20, 2009</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=17.133><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD></TR>
</TABLE>
<P style="margin-top:15px; margin-bottom:0px" align=center><BR></P>
<P style="margin-top:15px; margin-bottom:0px" align=center><BR>
<BR></P>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>petmed_ex99z1.htm
<DESCRIPTION>PRESS RELEASE
<TEXT>
<!doctype html public "-//IETF//DTD HTML//EN">
<HTML>
<HEAD>
<TITLE>PETMED EXPRESS </TITLE>
<META NAME="author" CONTENT="EDGAR Online HTML to RTF Converter. Version 3.0">
<META NAME="date" CONTENT="07/21/2009">
</HEAD>
<BODY style="line-height:12pt; font-family:Times New Roman; font-size:10pt; color:#000000">
<A NAME="B416715_EX99_1_HTM"></A><A NAME="FIS_EXHIBIT_99"></A><P style="margin:0px"><BR></P>
<P style="margin:0px; padding-right:1.067px; font-family:Arial" align=right>Exhibit 99.1</P>
<P style="margin-top:0px; margin-bottom:6.667px; font-family:Arial" align=center><B>PETMED EXPRESS D/B/A 1-800-PETMEDS</B></P>
<P style="margin-top:0px; margin-bottom:6.667px; font-family:Arial" align=center><B>ANNOUNCES RECORD FIRST QUARTER FINANCIAL RESULTS</B></P>
<P style="margin-top:0px; margin-bottom:6.667px; font-family:Arial" align=center><I>Earnings Increase 27% to $0.36 per share</I></P>
<P style="margin-top:0px; margin-bottom:6.667px; font-family:Arial" align=center><I>Net Sales Increase 13% to $77.2 Million</I></P>
<P style="margin-top:0px; margin-bottom:6.667px; font-family:Arial" align=center><I>Reorder Sales Increase 17%</I></P>
<P style="margin:0px; padding-right:6px; font-family:Arial" align=justify>Pompano Beach, Florida, July 20, 2009 - PetMed Express, Inc. (NASDAQ: PETS) today announced its financial results for the quarter ended June 30, 2009. Net income was $8.1 million, or $0.36 diluted per share, for the quarter ended June 30, 2009, compared to net income of $6.6 million, or $0.28 diluted per share, for the quarter ended June 30, 2008, a 27% increase to EPS. Net sales for the quarter ended June 30, 2009 were $77.2 million, compared to $68.4 million for the quarter ended June 30, 2008, an increase of 13%. Reorder sales increased by 17%, from $46.2 million to $54.0 million for the quarters ended June 30, 2008 and 2009, respectively. Our online sales increased 18% from $43.7 million to $51.8 million for the quarters ended June 30, 2008 and 2009, respectively. &nbsp;&nbsp;&nbsp;</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; padding-right:6px; font-family:Arial" align=justify>Menderes Akdag, CEO and President, commented: &#147;We are pleased to report a 29% increase to our income from operations for the quarter, and a 17% increase in our reorder sales, compared to a 16% increase in reorder sales for the same quarter in the prior year. We acquired approximately 297,000 new customers in our first fiscal quarter compared to 267,000 for the same quarter in the prior year. Our costs to acquire a new customer decreased by 12% to $33 for the quarter ended June 30, 2009, compared to $38 for the same quarter in the prior year. We are also pleased to report that our operating expenses as a percent of sales improved 180 basis points for the quarter, compared to the same quarter in the prior year. Our continuing focus will be on capturing additional market share, increasing reorders with personalized communication and health education content, and improving our customer service levels in fiscal 2010.&#148;</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; padding-right:6px; font-family:Arial" align=justify>This morning at 8:30 A.M. Eastern Time, Mr. Akdag will host a conference call to review the quarter&#146;s financial results. To access the call, which is open to the public, please 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 10:00 A.M. on July 20, 2009 until August 3, 2009 at 11:59 P.M. To access the replay, call (800) 388-9075 (toll free) or (203) 369-3665, and enter passcode 5500.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; padding-right:6px; font-family:Arial" align=justify>Founded in 1996, PetMed Express is America&#146;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 <FONT style="color:#0000FF"><U>www.1800petmeds.com</U></FONT>.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; padding-right:6px; font-family:Arial" align=justify>This press release may contain &#147;forward-looking&#148; 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&#146;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 &#147;forward-looking&#148; statements are set forth in Management&#146;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, 2009. The Company&#146;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.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; padding-right:6px; font-family:Arial" align=justify>For investment relations contact PetMed Express, Inc., Bruce S. Rosenbloom, CFO, 954-979-5995.</P>
<P style="margin:0px; padding-right:6px; font-family:Arial" align=center>###</P>
<P style="margin:0px; padding-right:6px; font-family:Arial" align=center>Exhibit 99.1 Page 1 of 4</P>
<P style="margin:0px" align=center><BR>
<BR></P>
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<P style="margin:0px; page-break-before:always" align=center><BR></P>
<P style="margin:0px; font-family:Arial" align=center><B>PETMED EXPRESS, INC. AND SUBSIDIARIES</B></P>
<P style="margin:0px; font-family:Arial" align=center><B>CONDENSED CONSOLIDATED BALANCE SHEETS</B></P>
<P style="margin:0px"><BR></P>
<TABLE style="font-size:10pt" cellspacing=0 align=center><TR height=0 style="font-size:0"><TD width=526.533></TD><TD width=22.867></TD><TD width=106.533></TD><TD width=22.867></TD><TD width=103.6></TD></TR>
<TR><TD valign=bottom width=526.533><P>&nbsp;</P></TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=106.533><P style="margin:0px; font-family:Arial" align=center><B>June 30,</B></P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=103.6><P style="margin:0px; font-family:Arial" align=center><B>March 31,</B></P>
</TD></TR>
<TR><TD valign=bottom width=526.533><P>&nbsp;</P></TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD style="border-bottom:1.333px solid #000000" valign=bottom width=106.533><P style="margin:0px; font-family:Arial" align=center><B>2009</B></P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD style="border-bottom:1.333px solid #000000" valign=bottom width=103.6><P style="margin:0px; font-family:Arial" align=center><B>2009</B></P>
</TD></TR>
<TR><TD valign=bottom width=526.533><P>&nbsp;</P></TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=106.533><P style="margin:0px; font-family:Arial" align=right><B>(UNAUDITED)</B></P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=103.6><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=526.533><P style="margin:0px; font-family:Arial" align=center><B><U>ASSETS</U></B></P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=106.533><P>&nbsp;</P></TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=103.6><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=526.533><P>&nbsp;</P></TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=106.533><P>&nbsp;</P></TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=103.6><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=526.533><P style="margin:0px; font-family:Arial">Current assets:</P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=106.533><P>&nbsp;</P></TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=103.6><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=526.533><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Cash and cash equivalents</P>
</TD><TD valign=bottom width=22.867><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD valign=bottom width=106.533><P style="margin:0px; font-family:Arial" align=right>59,503,377&nbsp;</P>
</TD><TD valign=bottom width=22.867><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD valign=bottom width=103.6><P style="margin:0px; font-family:Arial" align=right>30,126,041&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=526.533><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Accounts receivable, less allowance for doubtful</P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=106.533><P>&nbsp;</P></TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=103.6><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=526.533><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;accounts of $67,327 and $58,525, respectively</P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=106.533><P style="margin:0px; font-family:Arial" align=right>3,313,213&nbsp;</P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=103.6><P style="margin:0px; font-family:Arial" align=right>2,881,085&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=526.533><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Inventories - finished goods</P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=106.533><P style="margin:0px; font-family:Arial" align=right>16,133,770&nbsp;</P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=103.6><P style="margin:0px; font-family:Arial" align=right>26,778,096&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=526.533><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets</P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=106.533><P style="margin:0px; font-family:Arial" align=right>924,580&nbsp;</P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=103.6><P style="margin:0px; font-family:Arial" align=right>753,602&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=526.533><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Deferred tax assets</P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=106.533><P style="margin:0px; font-family:Arial" align=right>1,084,237&nbsp;</P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=103.6><P style="margin:0px; font-family:Arial" align=right>724,561&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=526.533><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Prepaid income taxes</P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=106.533><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=103.6><P style="margin:0px; font-family:Arial" align=right>361,743&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=526.533><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets</P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=106.533><P style="margin:0px; font-family:Arial" align=right>80,959,177&nbsp;</P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=103.6><P style="margin:0px; font-family:Arial" align=right>61,625,128&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=526.533><P>&nbsp;</P></TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=106.533><P>&nbsp;</P></TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=103.6><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=526.533><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Long term investments</P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=106.533><P style="margin:0px; font-family:Arial" align=right>14,430,250&nbsp;</P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=103.6><P style="margin:0px; font-family:Arial" align=right>14,430,250&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=526.533><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Property and equipment, net</P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=106.533><P style="margin:0px; font-family:Arial" align=right>4,889,479&nbsp;</P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=103.6><P style="margin:0px; font-family:Arial" align=right>5,057,561&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=526.533><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Intangible assets</P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=106.533><P style="margin:0px; font-family:Arial" align=right>850,000&nbsp;</P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=103.6><P style="margin:0px; font-family:Arial" align=right>850,000&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=526.533><P>&nbsp;</P></TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=106.533><P>&nbsp;</P></TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=103.6><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=526.533><P style="margin:0px; font-family:Arial">Total assets</P>
</TD><TD valign=bottom width=22.867><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=106.533><P style="margin:0px; font-family:Arial" align=right>101,128,906&nbsp;</P>
</TD><TD valign=bottom width=22.867><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=103.6><P style="margin:0px; font-family:Arial" align=right>81,962,939&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=526.533><P>&nbsp;</P></TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=106.533><P>&nbsp;</P></TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=103.6><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=526.533><P style="margin:0px; font-family:Arial" align=center><B><U>LIABILITIES AND SHAREHOLDERS' EQUITY</U></B></P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=106.533><P>&nbsp;</P></TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=103.6><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=526.533><P>&nbsp;</P></TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=106.533><P>&nbsp;</P></TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=103.6><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=526.533><P style="margin:0px; font-family:Arial">Current liabilities:</P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=106.533><P>&nbsp;</P></TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=103.6><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=526.533><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Accounts payable</P>
</TD><TD valign=bottom width=22.867><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD valign=bottom width=106.533><P style="margin:0px; font-family:Arial" align=right>10,123,659&nbsp;</P>
</TD><TD valign=bottom width=22.867><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD valign=bottom width=103.6><P style="margin:0px; font-family:Arial" align=right>4,817,097&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=526.533><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Accrued expenses and other current liabilities</P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=106.533><P style="margin:0px; font-family:Arial" align=right>2,720,893&nbsp;</P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=103.6><P style="margin:0px; font-family:Arial" align=right>2,177,838&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=526.533><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Income taxes payable</P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=106.533><P style="margin:0px; font-family:Arial" align=right>4,019,300&nbsp;</P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=103.6><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=526.533><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities</P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=106.533><P style="margin:0px; font-family:Arial" align=right>16,863,852&nbsp;</P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=103.6><P style="margin:0px; font-family:Arial" align=right>6,994,935&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=526.533><P>&nbsp;</P></TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=106.533><P>&nbsp;</P></TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=103.6><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=526.533><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Deferred tax liabilities</P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=106.533><P style="margin:0px; font-family:Arial" align=right>456,404&nbsp;</P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=103.6><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=526.533><P>&nbsp;</P></TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=106.533><P>&nbsp;</P></TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=103.6><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=526.533><P style="margin:0px; font-family:Arial">Total liabilities</P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=106.533><P style="margin:0px; font-family:Arial" align=right>17,320,256&nbsp;</P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=103.6><P style="margin:0px; font-family:Arial" align=right>6,994,935&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=526.533><P>&nbsp;</P></TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=106.533><P>&nbsp;</P></TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=103.6><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=526.533><P style="margin:0px; font-family:Arial">Commitments and contingencies</P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=106.533><P>&nbsp;</P></TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=103.6><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=526.533><P>&nbsp;</P></TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=106.533><P>&nbsp;</P></TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=103.6><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=526.533><P style="margin:0px; font-family:Arial">Shareholders' equity:</P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=106.533><P>&nbsp;</P></TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=103.6><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=526.533><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Preferred stock, $.001 par value, 5,000,000 shares authorized;</P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=106.533><P>&nbsp;</P></TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=103.6><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=526.533><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,500 convertible shares issued and outstanding with a</P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=106.533><P>&nbsp;</P></TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=103.6><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=526.533><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;liquidation preference of $4 per share</P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=106.533><P style="margin:0px; font-family:Arial" align=right>8,898&nbsp;</P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=103.6><P style="margin:0px; font-family:Arial" align=right>8,898&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=526.533><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Common stock, $.001 par value, 40,000,000 shares authorized;</P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=106.533><P>&nbsp;</P></TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=103.6><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=526.533><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22,728,470 and 22,686,836 shares issued and outstanding, respectively</P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=106.533><P style="margin:0px; font-family:Arial" align=right>22,728&nbsp;</P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=103.6><P style="margin:0px; font-family:Arial" align=right>22,687&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=526.533><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Additional paid-in capital</P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=106.533><P style="margin:0px; font-family:Arial" align=right>765,829&nbsp;</P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=103.6><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=526.533><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Retained earnings</P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=106.533><P style="margin:0px; font-family:Arial" align=right>83,230,945&nbsp;</P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=103.6><P style="margin:0px; font-family:Arial" align=right>75,156,169&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=526.533><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Accumulated other comprehensive loss</P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=106.533><P style="margin:0px; font-family:Arial" align=right>(219,750)</P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=103.6><P style="margin:0px; font-family:Arial" align=right>(219,750)</P>
</TD></TR>
<TR><TD valign=bottom width=526.533><P>&nbsp;</P></TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=106.533><P>&nbsp;</P></TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=103.6><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=526.533><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total shareholders' equity</P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=106.533><P style="margin:0px; font-family:Arial" align=right>83,808,650&nbsp;</P>
</TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=103.6><P style="margin:0px; font-family:Arial" align=right>74,968,004&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=526.533><P>&nbsp;</P></TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=106.533><P>&nbsp;</P></TD><TD valign=bottom width=22.867><P>&nbsp;</P></TD><TD valign=bottom width=103.6><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=526.533><P style="margin:0px; font-family:Arial">Total liabilities and shareholders' equity</P>
</TD><TD valign=bottom width=22.867><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=106.533><P style="margin:0px; font-family:Arial" align=right>101,128,906&nbsp;</P>
</TD><TD valign=bottom width=22.867><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=103.6><P style="margin:0px; font-family:Arial" align=right>81,962,939&nbsp;</P>
</TD></TR>
</TABLE>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px; padding-left:-48px; padding-right:-31.2px; font-family:Arial" align=center>Exhibit 99.1 Page 2 of 4</P>
<P style="margin:0px" align=center><BR>
<BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always" align=center><BR></P>
<P style="margin:0px; font-family:Arial" align=center><B>PETMED EXPRESS, INC. AND SUBSIDIARIES </B></P>
<P style="margin:0px; font-family:Arial" align=center><B>&nbsp;CONDENSED CONSOLIDATED STATEMENTS OF INCOME </B></P>
<P style="margin:0px; font-family:Arial" align=center><B>&nbsp;(UNAUDITED) </B></P>
<P style="margin:0px"><BR></P>
<TABLE style="font-size:10pt" cellspacing=0 align=center><TR height=0 style="font-size:0"><TD width=508.467></TD><TD width=27.667></TD><TD width=109.2></TD><TD width=27.667></TD><TD width=109.4></TD></TR>
<TR><TD valign=bottom width=508.467><P>&nbsp;</P></TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD valign=bottom width=246.267 colspan=3><P style="margin:0px; font-family:Arial" align=center><B>Three Months Ended</B></P>
</TD></TR>
<TR><TD valign=bottom width=508.467><P>&nbsp;</P></TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD valign=bottom width=246.267 colspan=3><P style="margin:0px; font-family:Arial" align=center><B>June 30,</B></P>
</TD></TR>
<TR><TD valign=bottom width=508.467><P>&nbsp;</P></TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD style="border-bottom:1.333px solid #000000" valign=bottom width=109.2><P style="margin:0px; font-family:Arial" align=center><B>2009</B></P>
</TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD style="border-bottom:1.333px solid #000000" valign=bottom width=109.4><P style="margin:0px; font-family:Arial" align=center><B>2008</B></P>
</TD></TR>
<TR><TD valign=bottom width=508.467><P>&nbsp;</P></TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD valign=bottom width=109.2><P>&nbsp;</P></TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD valign=bottom width=109.4><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=508.467><P style="margin:0px; font-family:Arial">&nbsp;Sales </P>
</TD><TD valign=bottom width=27.667><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD valign=bottom width=109.2><P style="margin:0px; font-family:Arial" align=right>77,168,582&nbsp;</P>
</TD><TD valign=bottom width=27.667><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD valign=bottom width=109.4><P style="margin:0px; font-family:Arial" align=right>68,366,683&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=508.467><P style="margin:0px; font-family:Arial">&nbsp;Cost of sales </P>
</TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=109.2><P style="margin:0px; font-family:Arial" align=right>47,882,455&nbsp;</P>
</TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=109.4><P style="margin:0px; font-family:Arial" align=right>42,576,381&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=508.467><P>&nbsp;</P></TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD valign=bottom width=109.2><P>&nbsp;</P></TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD valign=bottom width=109.4><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=508.467><P style="margin:0px; font-family:Arial">&nbsp;Gross profit </P>
</TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=109.2><P style="margin:0px; font-family:Arial" align=right>29,286,127&nbsp;</P>
</TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=109.4><P style="margin:0px; font-family:Arial" align=right>25,790,302&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=508.467><P>&nbsp;</P></TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD valign=bottom width=109.2><P>&nbsp;</P></TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD valign=bottom width=109.4><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=508.467><P style="margin:0px; font-family:Arial">&nbsp;Operating expenses: </P>
</TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD valign=bottom width=109.2><P>&nbsp;</P></TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD valign=bottom width=109.4><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=508.467><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General and administrative </P>
</TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD valign=bottom width=109.2><P style="margin:0px; font-family:Arial" align=right>6,493,360&nbsp;</P>
</TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD valign=bottom width=109.4><P style="margin:0px; font-family:Arial" align=right>5,812,214&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=508.467><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Advertising </P>
</TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD valign=bottom width=109.2><P style="margin:0px; font-family:Arial" align=right>9,871,809&nbsp;</P>
</TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD valign=bottom width=109.4><P style="margin:0px; font-family:Arial" align=right>10,060,123&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=508.467><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization </P>
</TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=109.2><P style="margin:0px; font-family:Arial" align=right>322,335&nbsp;</P>
</TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=109.4><P style="margin:0px; font-family:Arial" align=right>155,552&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=508.467><P style="margin:0px; font-family:Arial">&nbsp;Total operating expenses </P>
</TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=109.2><P style="margin:0px; font-family:Arial" align=right>16,687,504&nbsp;</P>
</TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=109.4><P style="margin:0px; font-family:Arial" align=right>16,027,889&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=508.467><P>&nbsp;</P></TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD valign=bottom width=109.2><P>&nbsp;</P></TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD valign=bottom width=109.4><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=508.467><P style="margin:0px; font-family:Arial">&nbsp;Income from operations </P>
</TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=109.2><P style="margin:0px; font-family:Arial" align=right>12,598,623&nbsp;</P>
</TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=109.4><P style="margin:0px; font-family:Arial" align=right>9,762,413&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=508.467><P>&nbsp;</P></TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD valign=bottom width=109.2><P>&nbsp;</P></TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD valign=bottom width=109.4><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=508.467><P style="margin:0px; font-family:Arial">&nbsp;Other income: </P>
</TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD valign=bottom width=109.2><P>&nbsp;</P></TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD valign=bottom width=109.4><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=508.467><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest income, net </P>
</TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD valign=bottom width=109.2><P style="margin:0px; font-family:Arial" align=right>61,420&nbsp;</P>
</TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD valign=bottom width=109.4><P style="margin:0px; font-family:Arial" align=right>309,315&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=508.467><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other, net </P>
</TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD valign=bottom width=109.2><P style="margin:0px; font-family:Arial" align=right>1,585&nbsp;</P>
</TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD valign=bottom width=109.4><P style="margin:0px; font-family:Arial" align=right>160,383&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=508.467><P style="margin:0px; font-family:Arial">&nbsp;Total other income </P>
</TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD style="border-top:1px solid #000000; border-bottom:1px solid #000000" valign=bottom width=109.2><P style="margin:0px; font-family:Arial" align=right>63,005&nbsp;</P>
</TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD style="border-top:1px solid #000000; border-bottom:1px solid #000000" valign=bottom width=109.4><P style="margin:0px; font-family:Arial" align=right>469,698&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=508.467><P>&nbsp;</P></TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD valign=bottom width=109.2><P>&nbsp;</P></TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD valign=bottom width=109.4><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=508.467><P style="margin:0px; font-family:Arial">&nbsp;Income before provision for income taxes </P>
</TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD valign=bottom width=109.2><P style="margin:0px; font-family:Arial" align=right>12,661,628&nbsp;</P>
</TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD valign=bottom width=109.4><P style="margin:0px; font-family:Arial" align=right>10,232,111&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=508.467><P>&nbsp;</P></TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD valign=bottom width=109.2><P>&nbsp;</P></TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD valign=bottom width=109.4><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=508.467><P style="margin:0px; font-family:Arial">&nbsp;Provision for income taxes </P>
</TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=109.2><P style="margin:0px; font-family:Arial" align=right>4,586,852&nbsp;</P>
</TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=109.4><P style="margin:0px; font-family:Arial" align=right>3,610,902&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=508.467><P>&nbsp;</P></TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD valign=bottom width=109.2><P>&nbsp;</P></TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD valign=bottom width=109.4><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=508.467><P style="margin:0px; font-family:Arial">&nbsp;Net income </P>
</TD><TD valign=bottom width=27.667><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=109.2><P style="margin:0px; font-family:Arial" align=right>8,074,776&nbsp;</P>
</TD><TD valign=bottom width=27.667><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=109.4><P style="margin:0px; font-family:Arial" align=right>6,621,209&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=508.467><P>&nbsp;</P></TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD valign=bottom width=109.2><P>&nbsp;</P></TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD valign=bottom width=109.4><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=508.467><P style="margin:0px; font-family:Arial">&nbsp;Net income per common share: </P>
</TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD valign=bottom width=109.2><P>&nbsp;</P></TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD valign=bottom width=109.4><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=508.467><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic </P>
</TD><TD valign=bottom width=27.667><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=109.2><P style="margin:0px; font-family:Arial" align=right>0.36&nbsp;</P>
</TD><TD valign=bottom width=27.667><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=109.4><P style="margin:0px; font-family:Arial" align=right>0.28&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=508.467><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diluted </P>
</TD><TD valign=bottom width=27.667><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=109.2><P style="margin:0px; font-family:Arial" align=right>0.36&nbsp;</P>
</TD><TD valign=bottom width=27.667><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=109.4><P style="margin:0px; font-family:Arial" align=right>0.28&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=508.467><P>&nbsp;</P></TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD valign=bottom width=109.2><P>&nbsp;</P></TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD valign=bottom width=109.4><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=508.467><P style="margin:0px; font-family:Arial">&nbsp;Weighted average number of common shares outstanding: </P>
</TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD valign=bottom width=109.2><P>&nbsp;</P></TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD valign=bottom width=109.4><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=508.467><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic </P>
</TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD style="border-bottom:3px double #000000" valign=bottom width=109.2><P style="margin:0px; font-family:Arial" align=right>22,523,962&nbsp;</P>
</TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD style="border-bottom:3px double #000000" valign=bottom width=109.4><P style="margin:0px; font-family:Arial" align=right>23,523,297&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=508.467><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diluted </P>
</TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD style="border-bottom:3px double #000000" valign=bottom width=109.2><P style="margin:0px; font-family:Arial" align=right>22,681,612&nbsp;</P>
</TD><TD valign=bottom width=27.667><P>&nbsp;</P></TD><TD style="border-bottom:3px double #000000" valign=bottom width=109.4><P style="margin:0px; font-family:Arial" align=right>23,671,933&nbsp;</P>
</TD></TR>
</TABLE>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px; padding-right:-31.2px; font-family:Arial" align=center>Exhibit 99.1 Page 3 of 4</P>
<P style="margin:0px" align=center><BR>
<BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always" align=center><BR></P>
<P style="margin:0px; font-family:Arial" align=center><B>PETMED EXPRESS, INC. AND SUBSIDIARIES</B></P>
<P style="margin:0px; font-family:Arial" align=center><B>CONSOLIDATED STATEMENTS OF CASH FLOWS</B></P>
<P style="margin:0px"><BR></P>
<TABLE style="font-size:10pt" cellspacing=0 align=center><TR height=0 style="font-size:0"><TD width=495.467></TD><TD width=27.533></TD><TD width=115.933></TD><TD width=27.533></TD><TD width=115.933></TD></TR>
<TR><TD valign=bottom width=495.467><P>&nbsp;</P></TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=259.4 colspan=3><P style="margin:0px; font-family:Arial" align=center><B>Three Months Ended</B></P>
</TD></TR>
<TR><TD valign=bottom width=495.467><P>&nbsp;</P></TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=259.4 colspan=3><P style="margin:0px; font-family:Arial" align=center><B>June 30,</B></P>
</TD></TR>
<TR><TD valign=bottom width=495.467><P>&nbsp;</P></TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD style="border-bottom:1.333px solid #000000" valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=center><B>2009</B></P>
</TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD style="border-bottom:1.333px solid #000000" valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=center><B>2008</B></P>
</TD></TR>
<TR><TD valign=bottom width=495.467><P style="margin:0px; font-family:Arial">&nbsp;Cash flows from operating activities: </P>
</TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P>&nbsp;</P></TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=495.467><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;Net income </P>
</TD><TD valign=bottom width=27.533><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>8,074,776&nbsp;</P>
</TD><TD valign=bottom width=27.533><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>6,621,209&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=495.467><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;Adjustments to reconcile net income to net cash </P>
</TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P>&nbsp;</P></TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=495.467><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;provided by operating activities: </P>
</TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P>&nbsp;</P></TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=495.467><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization </P>
</TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>322,335&nbsp;</P>
</TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>155,552&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=495.467><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Share based compensation </P>
</TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>337,027&nbsp;</P>
</TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>304,041&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=495.467><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred income taxes </P>
</TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>96,728&nbsp;</P>
</TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>(47,174)</P>
</TD></TR>
<TR><TD valign=bottom width=495.467><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bad debt expense </P>
</TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>23,378&nbsp;</P>
</TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>43,986&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=495.467><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Increase) decrease in operating assets </P>
</TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P>&nbsp;</P></TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=495.467><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;and increase (decrease) in liabilities: </P>
</TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P>&nbsp;</P></TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=495.467><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable </P>
</TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>(455,506)</P>
</TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>(1,514,539)</P>
</TD></TR>
<TR><TD valign=bottom width=495.467><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventories - finished goods </P>
</TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>10,644,326&nbsp;</P>
</TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>(6,843,761)</P>
</TD></TR>
<TR><TD valign=bottom width=495.467><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid income taxes </P>
</TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>361,743&nbsp;</P>
</TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=495.467><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets </P>
</TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>(170,978)</P>
</TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>(295,807)</P>
</TD></TR>
<TR><TD valign=bottom width=495.467><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable </P>
</TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>5,460,799&nbsp;</P>
</TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>4,427,291&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=495.467><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income taxes payable </P>
</TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>4,019,300&nbsp;</P>
</TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>3,400,392&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=495.467><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses and other current liabilities </P>
</TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>543,055&nbsp;</P>
</TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>373,387&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=495.467><P style="margin:0px; font-family:Arial">&nbsp;Net cash provided by operating activities </P>
</TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>29,256,983&nbsp;</P>
</TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>6,624,577&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=495.467><P>&nbsp;</P></TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P>&nbsp;</P></TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=495.467><P style="margin:0px; font-family:Arial">&nbsp;Cash flows from investing activities: </P>
</TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P>&nbsp;</P></TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=495.467><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;Net change in investments </P>
</TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>12,620,000&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=495.467><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;Purchases of property and equipment </P>
</TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>(308,492)</P>
</TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>(212,690)</P>
</TD></TR>
<TR><TD valign=bottom width=495.467><P style="margin:0px; font-family:Arial">&nbsp;Net cash (used in) provided by investing activities </P>
</TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD style="border-top:1px solid #000000; border-bottom:1px solid #000000" valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>(308,492)</P>
</TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD style="border-top:1px solid #000000; border-bottom:1px solid #000000" valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>12,407,310&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=495.467><P>&nbsp;</P></TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P>&nbsp;</P></TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=495.467><P style="margin:0px; font-family:Arial">&nbsp;Cash flows from financing activities: </P>
</TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P>&nbsp;</P></TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=495.467><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;Purchases of treasury stock </P>
</TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>(1,086,816)</P>
</TD></TR>
<TR><TD valign=bottom width=495.467><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from the exercise of stock options </P>
</TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>319,763&nbsp;</P>
</TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>348,200&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=495.467><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;Tax benefit related to stock options exercised </P>
</TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>109,082&nbsp;</P>
</TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>31,684&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=495.467><P style="margin:0px; font-family:Arial">&nbsp;Net cash provided by (used in) financing activities </P>
</TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD style="border-top:1px solid #000000; border-bottom:1px solid #000000" valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>428,845&nbsp;</P>
</TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD style="border-top:1px solid #000000; border-bottom:1px solid #000000" valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>(706,932)</P>
</TD></TR>
<TR><TD valign=bottom width=495.467><P>&nbsp;</P></TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P>&nbsp;</P></TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=495.467><P style="margin:0px; font-family:Arial">&nbsp;Net increase in cash and cash equivalents </P>
</TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>29,377,336&nbsp;</P>
</TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>18,324,955&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=495.467><P style="margin:0px; font-family:Arial">&nbsp;Cash and cash equivalents, at beginning of period </P>
</TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>30,126,041&nbsp;</P>
</TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>20,267,829&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=495.467><P>&nbsp;</P></TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P>&nbsp;</P></TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=495.467><P style="margin:0px; font-family:Arial">&nbsp;Cash and cash equivalents, at end of period </P>
</TD><TD valign=bottom width=27.533><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>59,503,377&nbsp;</P>
</TD><TD valign=bottom width=27.533><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>38,592,784&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=495.467><P>&nbsp;</P></TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P>&nbsp;</P></TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=495.467><P style="margin:0px; font-family:Arial">&nbsp;Supplemental disclosure of cash flow information: </P>
</TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P>&nbsp;</P></TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=495.467><P>&nbsp;</P></TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P>&nbsp;</P></TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=495.467><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;Cash paid for income taxes </P>
</TD><TD valign=bottom width=27.533><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD><TD valign=bottom width=27.533><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>226,000&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=495.467><P>&nbsp;</P></TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P>&nbsp;</P></TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=495.467><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;Retirement of treasury stock </P>
</TD><TD valign=bottom width=27.533><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD><TD valign=bottom width=27.533><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>562,658&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=495.467><P>&nbsp;</P></TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P>&nbsp;</P></TD><TD valign=bottom width=27.533><P>&nbsp;</P></TD><TD valign=bottom width=115.933><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=495.467><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;Property and equipment purchases in accounts payable </P>
</TD><TD valign=bottom width=27.533><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>617,522&nbsp;</P>
</TD><TD valign=bottom width=27.533><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=115.933><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD></TR>
</TABLE>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px; font-family:Arial" align=center>Exhibit 99.1 Page 4 of 4</P>
<P style="margin:0px" align=center><BR>
<BR></P>
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