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<SEC-DOCUMENT>0000943440-09-000569.txt : 20091020
<SEC-HEADER>0000943440-09-000569.hdr.sgml : 20091020
<ACCEPTANCE-DATETIME>20091020134435
ACCESSION NUMBER:		0000943440-09-000569
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20091019
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20091020
DATE AS OF CHANGE:		20091020

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:		091127653

	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>Current Report</TITLE>
<META NAME="author" CONTENT="EDGAR Online HTML to RTF Converter. Version 3.0">
<META NAME="date" CONTENT="10/20/2009">
</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): October 19, 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>
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<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>
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<BR></P>
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<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 October 19, 2009, PetMed Express, Inc. issued a press release announcing its September 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 October 19, 2009</P>
</TD><A NAME="FIS_EXHIBIT_INDEX"></A></TR>
</TABLE>
<P style="margin-top:12.533px; margin-bottom:0px; font-family:Arial" 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 October 19, 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><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: October 20, 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>
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<TYPE>EX-99.1
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<FILENAME>petmed_ex991.htm
<DESCRIPTION>PRESS RELEASE
<TEXT>
<!doctype html public "-//IETF//DTD HTML//EN">
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<HEAD>
<TITLE>Press Release</TITLE>
<META NAME="author" CONTENT="EDGAR Online HTML to RTF Converter. Version 3.0">
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<A NAME="B416715_EX99_1_HTM"></A><A NAME="FIS_EXHIBIT_99"></A><P style="margin:0px"><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=right>Exhibit 99.1</P>
</TD></TR>
<TR><TD valign=top width=768><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 SECOND QUARTER FINANCIAL RESULTS</B></P>
<P style="margin-top:0px; margin-bottom:6.667px; font-family:Arial" align=center><I>Earnings Increase 12% to $0.28 EPS</I></P>
<P style="margin-top:0px; margin-bottom:6.667px; font-family:Arial" align=center><I>Reorder Sales Increase 11% to $45.8 Million</I></P>
</TD></TR>
<TR><TD valign=top width=768><P style="margin:0px; padding-right:6px; font-family:Arial" align=justify>Pompano Beach, Florida, October 19, 2009 - PetMed Express, Inc. (NASDAQ: PETS) today announced its financial results for the quarter ended September 30, 2009. &nbsp;Net income was $6.3 million, or $0.28 diluted per share, for the quarter ended September 30, 2009, compared to net income of $5.8 million, or $0.25 diluted per share, for the quarter ended September 30, 2008, a 12% increase to EPS. &nbsp;For the six months ended September 30, 2009, net income was $14.3 million or $0.63 diluted per share compared to net income of $12.4 million or $0.53 diluted per share for the six months ended September 30, 2008, an increase to earnings per share of 20%. &nbsp;Net sales for the quarter ended September 30, 2009 were $62.4 million, compared to $59.6 million for the quarter ended September 30, 2008, an increase of 5%. &nbsp;Net sales for the six months ended September 30, 2009 were $139.6 million, compared to $127.
9 million for the six months ended September 30, 2008, an increase of 9%. &nbsp;Reorder sales increased by 11%, from $41.4 million to $45.8 million for the quarters ended September 30, 2008 and 2009, respectively. &nbsp;Reorder sales for the six months ended September 30, 2009 were $99.8 million, compared to $87.6 million for the six months ended September 30, 2008, an increase of 14%. &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 17% increase to our income from operations for the quarter ended September 30, 2009. &nbsp;We acquired approximately 233,000 new customers in the September quarter. &nbsp;Our costs to acquire a new customer decreased by 8% to $33 for the quarter ended September 30, 2009, compared to $36 for the same period in the prior year. &nbsp;We are pleased to report that our operating expenses as a percent of sales improved by 200 basis points in the September quarter, compared to the same quarter in the prior year. &nbsp;We are also pleased to report that our cash flows from operations increased to $26.1 million for the six months ended September 30, 2009 from $18.7 million for the same period the prior year. &nbsp;Our continuing focus will be on capturing additional market share, increasing reorders with personalized communication and health education content, and im
proving 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. &nbsp;To access the call, which is open to the public, please dial (888) 455-1758 (toll free) or (210) 234-0009. &nbsp;Callers will be required to supply PETMEDS as the passcode. &nbsp;For those unable to participate in the live event, the call will be available for replay from 10:00 A.M. on October 19, 2009 until November 2, 2009 at 11:59 P.M. &nbsp;To access the replay, call (800) 695-3640 (toll free) or (402) 220-0318, 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 www.1800petmeds.com.</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. &nbsp;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. &nbsp;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. &nbsp;For investment relations contact PetMed Express, Inc., Bruce S. Rosen
bloom, CFO, 954-979-5995.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; padding-right:6px; font-family:Arial" align=center>###</P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px; padding-right:6px; font-family:Arial" align=center>Exhibit 99.1 Page 1 of 4</P>
</TD></TR>
</TABLE>
<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>
<TABLE style="font-size:10pt" cellspacing=0 align=center><TR height=0 style="font-size:0"><TD width=455.2></TD><TD width=18.867></TD><TD width=95.667></TD><TD width=18.933></TD><TD width=95.667></TD></TR>
<TR><TD valign=bottom width=684.333 colspan=5><P style="margin:0px; font-family:Arial" align=center><B>PETMED EXPRESS, INC. AND SUBSIDIARIES</B></P>
</TD></TR>
<TR><TD valign=bottom width=684.333 colspan=5><P style="margin:0px; font-family:Arial" align=center><B>CONDENSED CONSOLIDATED BALANCE SHEETS</B></P>
</TD></TR>
<TR><TD valign=bottom width=455.2><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P>&nbsp;</P></TD><TD valign=bottom width=18.933><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=455.2><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=114.6 colspan=2><P style="margin:0px; font-family:Arial"><B>September 30,</B></P>
</TD><TD valign=bottom width=95.667><P style="margin:0px; font-family:Arial" align=center><B>March 31,</B></P>
</TD></TR>
<TR><TD valign=bottom width=455.2><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=95.667><P style="margin:0px; font-family:Arial" align=center><B>2009</B></P>
</TD><TD valign=bottom width=18.933><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=95.667><P style="margin:0px; font-family:Arial" align=center><B>2009</B></P>
</TD></TR>
<TR><TD valign=bottom width=455.2><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=210.267 colspan=3><P style="margin:0px; font-family:Arial" align=center><B>(UNAUDITED)</B></P>
</TD></TR>
<TR><TD valign=bottom width=455.2><P style="margin:0px; font-family:Arial" align=center><B><U>ASSETS</U></B></P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P>&nbsp;</P></TD><TD valign=bottom width=18.933><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=455.2><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P>&nbsp;</P></TD><TD valign=bottom width=18.933><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=455.2><P style="margin:0px; font-family:Arial">Current assets:</P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P>&nbsp;</P></TD><TD valign=bottom width=18.933><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=455.2><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Cash and cash equivalents</P>
</TD><TD valign=bottom width=18.867><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD valign=bottom width=95.667><P style="margin:0px; font-family:Arial" align=right>56,188,238&nbsp;</P>
</TD><TD valign=bottom width=18.933><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD valign=bottom width=95.667><P style="margin:0px; font-family:Arial" align=right>30,126,041&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=455.2><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Accounts receivable, less allowance for doubtful</P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P>&nbsp;</P></TD><TD valign=bottom width=18.933><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=455.2><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;accounts of $55,864 and $58,525, respectively</P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P style="margin:0px; font-family:Arial" align=right>2,746,789&nbsp;</P>
</TD><TD valign=bottom width=18.933><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P style="margin:0px; font-family:Arial" align=right>2,881,085&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=455.2><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Inventories - finished goods</P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P style="margin:0px; font-family:Arial" align=right>15,945,945&nbsp;</P>
</TD><TD valign=bottom width=18.933><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P style="margin:0px; font-family:Arial" align=right>26,778,096&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=455.2><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets</P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P style="margin:0px; font-family:Arial" align=right>958,455&nbsp;</P>
</TD><TD valign=bottom width=18.933><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P style="margin:0px; font-family:Arial" align=right>753,602&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=455.2><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Deferred tax assets</P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P style="margin:0px; font-family:Arial" align=right>963,913&nbsp;</P>
</TD><TD valign=bottom width=18.933><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P style="margin:0px; font-family:Arial" align=right>724,561&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=455.2><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Prepaid income taxes</P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=95.667><P style="margin:0px; font-family:Arial" align=right>1,889,423&nbsp;</P>
</TD><TD valign=bottom width=18.933><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=95.667><P style="margin:0px; font-family:Arial" align=right>361,743&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=455.2><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=18.867><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P style="margin:0px; font-family:Arial" align=right>78,692,763&nbsp;</P>
</TD><TD valign=bottom width=18.933><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P style="margin:0px; font-family:Arial" align=right>61,625,128&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=455.2><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P>&nbsp;</P></TD><TD valign=bottom width=18.933><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=455.2><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Long term investments</P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P style="margin:0px; font-family:Arial" align=right>12,312,500&nbsp;</P>
</TD><TD valign=bottom width=18.933><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P style="margin:0px; font-family:Arial" align=right>14,430,250&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=455.2><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Property and equipment, net</P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P style="margin:0px; font-family:Arial" align=right>4,752,041&nbsp;</P>
</TD><TD valign=bottom width=18.933><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P style="margin:0px; font-family:Arial" align=right>5,057,561&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=455.2><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Intangible assets</P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=95.667><P style="margin:0px; font-family:Arial" align=right>850,000&nbsp;</P>
</TD><TD valign=bottom width=18.933><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=95.667><P style="margin:0px; font-family:Arial" align=right>850,000&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=455.2><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P>&nbsp;</P></TD><TD valign=bottom width=18.933><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=455.2><P style="margin:0px; font-family:Arial">Total assets</P>
</TD><TD valign=bottom width=18.867><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=95.667><P style="margin:0px; font-family:Arial" align=right>96,607,304&nbsp;</P>
</TD><TD valign=bottom width=18.933><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=95.667><P style="margin:0px; font-family:Arial" align=right>81,962,939&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=455.2><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P>&nbsp;</P></TD><TD valign=bottom width=18.933><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=455.2><P style="margin:0px; font-family:Arial" align=center><B><U>LIABILITIES AND SHAREHOLDERS' EQUITY</U></B></P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P>&nbsp;</P></TD><TD valign=bottom width=18.933><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=455.2><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P>&nbsp;</P></TD><TD valign=bottom width=18.933><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=455.2><P style="margin:0px; font-family:Arial">Current liabilities:</P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P>&nbsp;</P></TD><TD valign=bottom width=18.933><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=455.2><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Accounts payable</P>
</TD><TD valign=bottom width=18.867><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD valign=bottom width=95.667><P style="margin:0px; font-family:Arial" align=right>5,422,317&nbsp;</P>
</TD><TD valign=bottom width=18.933><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD valign=bottom width=95.667><P style="margin:0px; font-family:Arial" align=right>4,817,097&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=455.2><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Accrued expenses and other current liabilities</P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=95.667><P style="margin:0px; font-family:Arial" align=right>2,306,258&nbsp;</P>
</TD><TD valign=bottom width=18.933><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=95.667><P style="margin:0px; font-family:Arial" align=right>2,177,838&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=455.2><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=18.867><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P style="margin:0px; font-family:Arial" align=right>7,728,575&nbsp;</P>
</TD><TD valign=bottom width=18.933><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P style="margin:0px; font-family:Arial" align=right>6,994,935&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=455.2><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P>&nbsp;</P></TD><TD valign=bottom width=18.933><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=455.2><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Deferred tax liabilities</P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=95.667><P style="margin:0px; font-family:Arial" align=right>445,756&nbsp;</P>
</TD><TD valign=bottom width=18.933><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=95.667><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=455.2><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P>&nbsp;</P></TD><TD valign=bottom width=18.933><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=455.2><P style="margin:0px; font-family:Arial">Total liabilities</P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=95.667><P style="margin:0px; font-family:Arial" align=right>8,174,331&nbsp;</P>
</TD><TD valign=bottom width=18.933><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=95.667><P style="margin:0px; font-family:Arial" align=right>6,994,935&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=455.2><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P>&nbsp;</P></TD><TD valign=bottom width=18.933><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=455.2><P style="margin:0px; font-family:Arial">Commitments and contingencies</P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P>&nbsp;</P></TD><TD valign=bottom width=18.933><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=455.2><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P>&nbsp;</P></TD><TD valign=bottom width=18.933><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=455.2><P style="margin:0px; font-family:Arial">Shareholders' equity:</P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P>&nbsp;</P></TD><TD valign=bottom width=18.933><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=588.667 colspan=4><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=95.667><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=569.733 colspan=3><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=18.933><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=455.2><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=18.867><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P style="margin:0px; font-family:Arial" align=right>8,898&nbsp;</P>
</TD><TD valign=bottom width=18.933><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P style="margin:0px; font-family:Arial" align=right>8,898&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=588.667 colspan=4><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=95.667><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=474.067 colspan=2><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22,835,370 and 22,686,836 shares issued and outstanding, respectively</P>
</TD><TD valign=bottom width=95.667><P style="margin:0px; font-family:Arial" align=right>22,835&nbsp;</P>
</TD><TD valign=bottom width=18.933><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P style="margin:0px; font-family:Arial" align=right>22,687&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=455.2><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Additional paid-in capital</P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P style="margin:0px; font-family:Arial" align=right>1,375,877&nbsp;</P>
</TD><TD valign=bottom width=18.933><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=455.2><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Retained earnings</P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P style="margin:0px; font-family:Arial" align=right>87,212,863&nbsp;</P>
</TD><TD valign=bottom width=18.933><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P style="margin:0px; font-family:Arial" align=right>75,156,169&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=455.2><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Accumulated other comprehensive loss</P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=95.667><P style="margin:0px; font-family:Arial" align=right>(187,500)</P>
</TD><TD valign=bottom width=18.933><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=95.667><P style="margin:0px; font-family:Arial" align=right>(219,750)</P>
</TD></TR>
<TR><TD valign=bottom width=455.2><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P>&nbsp;</P></TD><TD valign=bottom width=18.933><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=455.2><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=18.867><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=95.667><P style="margin:0px; font-family:Arial" align=right>88,432,973&nbsp;</P>
</TD><TD valign=bottom width=18.933><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=95.667><P style="margin:0px; font-family:Arial" align=right>74,968,004&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=455.2><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P>&nbsp;</P></TD><TD valign=bottom width=18.933><P>&nbsp;</P></TD><TD valign=bottom width=95.667><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=455.2><P style="margin:0px; font-family:Arial">Total liabilities and shareholders' equity</P>
</TD><TD valign=bottom width=18.867><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=95.667><P style="margin:0px; font-family:Arial" align=right>96,607,304&nbsp;</P>
</TD><TD valign=bottom width=18.933><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=95.667><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" 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>
<TABLE style="font-size:10pt" cellspacing=0 align=center><TR height=0 style="font-size:0"><TD width=285.733></TD><TD width=18.867></TD><TD width=88.333></TD><TD width=18.867></TD><TD width=88.333></TD><TD width=18.867></TD><TD width=97.8></TD><TD width=22.067></TD><TD width=97.733></TD></TR>
<TR><TD valign=bottom width=736.6 colspan=9><P style="margin:0px; font-family:Arial" align=center><B>PETMED EXPRESS, INC. AND SUBSIDIARIES </B></P>
</TD></TR>
<TR><TD valign=bottom width=736.6 colspan=9><P style="margin:0px; font-family:Arial" align=center><B>&nbsp;CONDENSED CONSOLIDATED STATEMENTS OF INCOME </B></P>
</TD></TR>
<TR><TD valign=bottom width=736.6 colspan=9><P style="margin:0px; font-family:Arial" align=center><B>&nbsp;(UNAUDITED) </B></P>
</TD></TR>
<TR><TD valign=bottom width=285.733><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=88.333><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=88.333><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=97.8><P>&nbsp;</P></TD><TD valign=bottom width=22.067><P>&nbsp;</P></TD><TD valign=bottom width=97.733><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=285.733><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=195.533 colspan=3><P style="margin:0px; font-family:Arial" align=center><B>&nbsp;Three Months Ended </B></P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=217.6 colspan=3><P style="margin:0px; font-family:Arial" align=center><B>&nbsp;Six Months Ended </B></P>
</TD></TR>
<TR><TD valign=bottom width=285.733><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=195.533 colspan=3><P style="margin:0px; font-family:Arial" align=center><B>&nbsp;September 30, </B></P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=217.6 colspan=3><P style="margin:0px; font-family:Arial" align=center><B>&nbsp;September 30, </B></P>
</TD></TR>
<TR><TD valign=bottom width=285.733><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=88.333><P style="margin:0px; font-family:Arial" align=center><B>&nbsp;2009 </B></P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=88.333><P style="margin:0px; font-family:Arial" align=center><B>&nbsp;2008 </B></P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=97.8><P style="margin:0px; font-family:Arial" align=center><B>&nbsp;2009 </B></P>
</TD><TD valign=bottom width=22.067><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=97.733><P style="margin:0px; font-family:Arial" align=center><B>&nbsp;2008 </B></P>
</TD></TR>
<TR><TD valign=bottom width=285.733><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=88.333><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=88.333><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=97.8><P>&nbsp;</P></TD><TD valign=bottom width=22.067><P>&nbsp;</P></TD><TD valign=bottom width=97.733><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=285.733><P style="margin:0px; font-family:Arial">&nbsp;Sales </P>
</TD><TD valign=bottom width=18.867><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD valign=bottom width=88.333><P style="margin:0px; font-family:Arial" align=right>62,447,177&nbsp;</P>
</TD><TD valign=bottom width=18.867><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD valign=bottom width=88.333><P style="margin:0px; font-family:Arial" align=right>59,569,141&nbsp;</P>
</TD><TD valign=bottom width=18.867><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD valign=bottom width=97.8><P style="margin:0px; font-family:Arial" align=right>139,615,759&nbsp;</P>
</TD><TD valign=bottom width=22.067><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD valign=bottom width=97.733><P style="margin:0px; font-family:Arial" align=right>127,935,824&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=285.733><P style="margin:0px; font-family:Arial">&nbsp;Cost of sales </P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=88.333><P style="margin:0px; font-family:Arial" align=right>38,764,973&nbsp;</P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=88.333><P style="margin:0px; font-family:Arial" align=right>36,710,850&nbsp;</P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=97.8><P style="margin:0px; font-family:Arial" align=right>86,647,428&nbsp;</P>
</TD><TD valign=bottom width=22.067><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=97.733><P style="margin:0px; font-family:Arial" align=right>79,287,231&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=285.733><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=88.333><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=88.333><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=97.8><P>&nbsp;</P></TD><TD valign=bottom width=22.067><P>&nbsp;</P></TD><TD valign=bottom width=97.733><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=285.733><P style="margin:0px; font-family:Arial">&nbsp;Gross profit </P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=88.333><P style="margin:0px; font-family:Arial" align=right>23,682,204&nbsp;</P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=88.333><P style="margin:0px; font-family:Arial" align=right>22,858,291&nbsp;</P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=97.8><P style="margin:0px; font-family:Arial" align=right>52,968,331&nbsp;</P>
</TD><TD valign=bottom width=22.067><P>&nbsp;</P></TD><TD valign=bottom width=97.733><P style="margin:0px; font-family:Arial" align=right>48,648,593&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=285.733><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=88.333><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=88.333><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=97.8><P>&nbsp;</P></TD><TD valign=bottom width=22.067><P>&nbsp;</P></TD><TD valign=bottom width=97.733><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=285.733><P style="margin:0px; font-family:Arial">&nbsp;Operating expenses: </P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=88.333><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=88.333><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=97.8><P>&nbsp;</P></TD><TD valign=bottom width=22.067><P>&nbsp;</P></TD><TD valign=bottom width=97.733><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=285.733><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General and administrative </P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=88.333><P style="margin:0px; font-family:Arial" align=right>5,776,698&nbsp;</P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=88.333><P style="margin:0px; font-family:Arial" align=right>5,617,034&nbsp;</P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=97.8><P style="margin:0px; font-family:Arial" align=right>12,270,058&nbsp;</P>
</TD><TD valign=bottom width=22.067><P>&nbsp;</P></TD><TD valign=bottom width=97.733><P style="margin:0px; font-family:Arial" align=right>11,429,248&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=285.733><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Advertising </P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=88.333><P style="margin:0px; font-family:Arial" align=right>7,751,821&nbsp;</P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=88.333><P style="margin:0px; font-family:Arial" align=right>8,659,586&nbsp;</P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=97.8><P style="margin:0px; font-family:Arial" align=right>17,623,630&nbsp;</P>
</TD><TD valign=bottom width=22.067><P>&nbsp;</P></TD><TD valign=bottom width=97.733><P style="margin:0px; font-family:Arial" align=right>18,719,709&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=285.733><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization </P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=88.333><P style="margin:0px; font-family:Arial" align=right>322,478&nbsp;</P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=88.333><P style="margin:0px; font-family:Arial" align=right>162,076&nbsp;</P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=97.8><P style="margin:0px; font-family:Arial" align=right>644,813&nbsp;</P>
</TD><TD valign=bottom width=22.067><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=97.733><P style="margin:0px; font-family:Arial" align=right>317,628&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=285.733><P style="margin:0px; font-family:Arial">&nbsp;Total operating expenses </P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=88.333><P style="margin:0px; font-family:Arial" align=right>13,850,997&nbsp;</P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=88.333><P style="margin:0px; font-family:Arial" align=right>14,438,696&nbsp;</P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=97.8><P style="margin:0px; font-family:Arial" align=right>30,538,501&nbsp;</P>
</TD><TD valign=bottom width=22.067><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=97.733><P style="margin:0px; font-family:Arial" align=right>30,466,585&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=285.733><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=88.333><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=88.333><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=97.8><P>&nbsp;</P></TD><TD valign=bottom width=22.067><P>&nbsp;</P></TD><TD valign=bottom width=97.733><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=285.733><P style="margin:0px; font-family:Arial">&nbsp;Income from operations </P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=88.333><P style="margin:0px; font-family:Arial" align=right>9,831,207&nbsp;</P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=88.333><P style="margin:0px; font-family:Arial" align=right>8,419,595&nbsp;</P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=97.8><P style="margin:0px; font-family:Arial" align=right>22,429,830&nbsp;</P>
</TD><TD valign=bottom width=22.067><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=97.733><P style="margin:0px; font-family:Arial" align=right>18,182,008&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=285.733><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=88.333><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=88.333><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=97.8><P>&nbsp;</P></TD><TD valign=bottom width=22.067><P>&nbsp;</P></TD><TD valign=bottom width=97.733><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=285.733><P style="margin:0px; font-family:Arial">&nbsp;Other income: </P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=88.333><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=88.333><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=97.8><P>&nbsp;</P></TD><TD valign=bottom width=22.067><P>&nbsp;</P></TD><TD valign=bottom width=97.733><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=285.733><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest income, net </P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=88.333><P style="margin:0px; font-family:Arial" align=right>57,167&nbsp;</P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=88.333><P style="margin:0px; font-family:Arial" align=right>352,403&nbsp;</P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=97.8><P style="margin:0px; font-family:Arial" align=right>118,587&nbsp;</P>
</TD><TD valign=bottom width=22.067><P>&nbsp;</P></TD><TD valign=bottom width=97.733><P style="margin:0px; font-family:Arial" align=right>661,718&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=285.733><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other, net </P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=88.333><P style="margin:0px; font-family:Arial" align=right>1,082&nbsp;</P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=88.333><P style="margin:0px; font-family:Arial" align=right>169,068&nbsp;</P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=97.8><P style="margin:0px; font-family:Arial" align=right>2,667&nbsp;</P>
</TD><TD valign=bottom width=22.067><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=97.733><P style="margin:0px; font-family:Arial" align=right>329,451&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=285.733><P style="margin:0px; font-family:Arial">&nbsp;Total other income </P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=88.333><P style="margin:0px; font-family:Arial" align=right>58,249&nbsp;</P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=88.333><P style="margin:0px; font-family:Arial" align=right>521,471&nbsp;</P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=97.8><P style="margin:0px; font-family:Arial" align=right>121,254&nbsp;</P>
</TD><TD valign=bottom width=22.067><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=97.733><P style="margin:0px; font-family:Arial" align=right>991,169&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=285.733><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=88.333><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=88.333><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=97.8><P>&nbsp;</P></TD><TD valign=bottom width=22.067><P>&nbsp;</P></TD><TD valign=bottom width=97.733><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=285.733><P style="margin:0px; font-family:Arial">&nbsp;Income before provision for income taxes </P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=88.333><P style="margin:0px; font-family:Arial" align=right>9,889,456&nbsp;</P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=88.333><P style="margin:0px; font-family:Arial" align=right>8,941,066&nbsp;</P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=97.8><P style="margin:0px; font-family:Arial" align=right>22,551,084&nbsp;</P>
</TD><TD valign=bottom width=22.067><P>&nbsp;</P></TD><TD valign=bottom width=97.733><P style="margin:0px; font-family:Arial" align=right>19,173,177&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=285.733><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=88.333><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=88.333><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=97.8><P>&nbsp;</P></TD><TD valign=bottom width=22.067><P>&nbsp;</P></TD><TD valign=bottom width=97.733><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=285.733><P style="margin:0px; font-family:Arial">&nbsp;Provision for income taxes </P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=88.333><P style="margin:0px; font-family:Arial" align=right>3,624,451&nbsp;</P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=88.333><P style="margin:0px; font-family:Arial" align=right>3,119,969&nbsp;</P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=97.8><P style="margin:0px; font-family:Arial" align=right>8,211,303&nbsp;</P>
</TD><TD valign=bottom width=22.067><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=97.733><P style="margin:0px; font-family:Arial" align=right>6,730,871&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=285.733><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=88.333><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=88.333><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=97.8><P>&nbsp;</P></TD><TD valign=bottom width=22.067><P>&nbsp;</P></TD><TD valign=bottom width=97.733><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=285.733><P style="margin:0px; font-family:Arial">&nbsp;Net income </P>
</TD><TD valign=bottom width=18.867><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=88.333><P style="margin:0px; font-family:Arial" align=right>6,265,005&nbsp;</P>
</TD><TD valign=bottom width=18.867><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=88.333><P style="margin:0px; font-family:Arial" align=right>5,821,097&nbsp;</P>
</TD><TD valign=bottom width=18.867><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=97.8><P style="margin:0px; font-family:Arial" align=right>14,339,781&nbsp;</P>
</TD><TD valign=bottom width=22.067><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=97.733><P style="margin:0px; font-family:Arial" align=right>12,442,306&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=285.733><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=88.333><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=88.333><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=97.8><P>&nbsp;</P></TD><TD valign=bottom width=22.067><P>&nbsp;</P></TD><TD valign=bottom width=97.733><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=285.733><P style="margin:0px; font-family:Arial">&nbsp;Net income per common share: </P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=88.333><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=88.333><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=97.8><P>&nbsp;</P></TD><TD valign=bottom width=22.067><P>&nbsp;</P></TD><TD valign=bottom width=97.733><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=285.733><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic </P>
</TD><TD valign=bottom width=18.867><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=88.333><P style="margin:0px; font-family:Arial" align=right>0.28&nbsp;</P>
</TD><TD valign=bottom width=18.867><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=88.333><P style="margin:0px; font-family:Arial" align=right>0.25&nbsp;</P>
</TD><TD valign=bottom width=18.867><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=97.8><P style="margin:0px; font-family:Arial" align=right>0.64&nbsp;</P>
</TD><TD valign=bottom width=22.067><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=97.733><P style="margin:0px; font-family:Arial" align=right>0.53&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=285.733><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diluted </P>
</TD><TD valign=bottom width=18.867><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=88.333><P style="margin:0px; font-family:Arial" align=right>0.28&nbsp;</P>
</TD><TD valign=bottom width=18.867><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=88.333><P style="margin:0px; font-family:Arial" align=right>0.25&nbsp;</P>
</TD><TD valign=bottom width=18.867><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=97.8><P style="margin:0px; font-family:Arial" align=right>0.63&nbsp;</P>
</TD><TD valign=bottom width=22.067><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=97.733><P style="margin:0px; font-family:Arial" align=right>0.53&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=285.733><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=88.333><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=88.333><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=97.8><P>&nbsp;</P></TD><TD valign=bottom width=22.067><P>&nbsp;</P></TD><TD valign=bottom width=97.733><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=392.933 colspan=3><P style="margin:0px; font-family:Arial">&nbsp;Weighted average number of common shares outstanding: </P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=88.333><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=97.8><P>&nbsp;</P></TD><TD valign=bottom width=22.067><P>&nbsp;</P></TD><TD valign=bottom width=97.733><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=285.733><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic </P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD style="border-bottom:3px double #000000" valign=bottom width=88.333><P style="margin:0px; font-family:Arial" align=right>22,614,372&nbsp;</P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD style="border-bottom:3px double #000000" valign=bottom width=88.333><P style="margin:0px; font-family:Arial" align=right>23,485,477&nbsp;</P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD style="border-bottom:3px double #000000" valign=bottom width=97.8><P style="margin:0px; font-family:Arial" align=right>22,569,414&nbsp;</P>
</TD><TD valign=bottom width=22.067><P>&nbsp;</P></TD><TD style="border-bottom:3px double #000000" valign=bottom width=97.733><P style="margin:0px; font-family:Arial" align=right>23,504,284&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=285.733><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diluted </P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD style="border-bottom:3px double #000000" valign=bottom width=88.333><P style="margin:0px; font-family:Arial" align=right>22,755,245&nbsp;</P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD style="border-bottom:3px double #000000" valign=bottom width=88.333><P style="margin:0px; font-family:Arial" align=right>23,669,854&nbsp;</P>
</TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD style="border-bottom:3px double #000000" valign=bottom width=97.8><P style="margin:0px; font-family:Arial" align=right>22,718,428&nbsp;</P>
</TD><TD valign=bottom width=22.067><P>&nbsp;</P></TD><TD style="border-bottom:3px double #000000" valign=bottom width=97.733><P style="margin:0px; font-family:Arial" align=right>23,670,893&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=285.733><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=88.333><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=88.333><P>&nbsp;</P></TD><TD valign=bottom width=18.867><P>&nbsp;</P></TD><TD valign=bottom width=97.8><P>&nbsp;</P></TD><TD valign=bottom width=22.067><P>&nbsp;</P></TD><TD valign=bottom width=97.733><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=285.733><P style="margin:0px; font-family:Arial">&nbsp;Cash dividends declared per common share </P>
</TD><TD valign=bottom width=18.867><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=88.333><P style="margin:0px; font-family:Arial" align=right>0.10&nbsp;</P>
</TD><TD valign=bottom width=18.867><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=88.333><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD><TD valign=bottom width=18.867><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=97.8><P style="margin:0px; font-family:Arial" align=right>0.10&nbsp;</P>
</TD><TD valign=bottom width=22.067><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=97.733><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; 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>
<TABLE style="font-size:10pt" cellspacing=0 align=center><TR height=0 style="font-size:0"><TD width=417.467></TD><TD width=18.867></TD><TD width=89.4></TD><TD width=18.933></TD><TD width=89.4></TD></TR>
<TR><TD valign=top width=634.067 colspan=5><P style="margin:0px; font-family:Arial" align=center><B>PETMED EXPRESS, INC. AND SUBSIDIARIES</B></P>
</TD></TR>
<TR><TD valign=top width=634.067 colspan=5><P style="margin:0px; font-family:Arial" align=center><B>CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS</B></P>
</TD></TR>
<TR><TD valign=top width=634.067 colspan=5><P style="margin:0px; font-family:Arial" align=center><B>(UNAUDITED)</B></P>
</TD></TR>
<TR><TD valign=top width=634.067 colspan=5><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=417.467><P>&nbsp;</P></TD><TD valign=top width=18.867><P>&nbsp;</P></TD><TD valign=top width=197.733 colspan=3><P style="margin:0px; font-family:Arial" align=center><B>&nbsp;Six Months Ended </B></P>
</TD></TR>
<TR><TD valign=top width=417.467><P>&nbsp;</P></TD><TD valign=top width=18.867><P>&nbsp;</P></TD><TD valign=top width=197.733 colspan=3><P style="margin:0px; font-family:Arial" align=center><B>&nbsp;September 30, </B></P>
</TD></TR>
<TR><TD valign=top width=417.467><P>&nbsp;</P></TD><TD valign=top width=18.867><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=top width=89.4><P style="margin:0px; font-family:Arial" align=center><B>2009</B></P>
</TD><TD valign=top width=18.933><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=top width=89.4><P style="margin:0px; font-family:Arial" align=center><B>2008</B></P>
</TD></TR>
<TR><TD valign=top width=417.467><P style="margin:0px; font-family:Arial">&nbsp;Cash flows from operating activities: </P>
</TD><TD valign=top width=18.867><P>&nbsp;</P></TD><TD valign=top width=89.4><P>&nbsp;</P></TD><TD valign=top width=18.933><P>&nbsp;</P></TD><TD valign=top width=89.4><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=417.467><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;Net income </P>
</TD><TD valign=top width=18.867><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>14,339,781&nbsp;</P>
</TD><TD valign=top width=18.933><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>12,442,306&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=525.733 colspan=3><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;Adjustments to reconcile net income to net cash </P>
</TD><TD valign=top width=18.933><P>&nbsp;</P></TD><TD valign=top width=89.4><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=417.467><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;provided by operating activities: </P>
</TD><TD valign=top width=18.867><P>&nbsp;</P></TD><TD valign=top width=89.4><P>&nbsp;</P></TD><TD valign=top width=18.933><P>&nbsp;</P></TD><TD valign=top width=89.4><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=417.467><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization </P>
</TD><TD valign=top width=18.867><P>&nbsp;</P></TD><TD valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>644,813&nbsp;</P>
</TD><TD valign=top width=18.933><P>&nbsp;</P></TD><TD valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>317,628&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=417.467><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Share based compensation </P>
</TD><TD valign=top width=18.867><P>&nbsp;</P></TD><TD valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>722,353&nbsp;</P>
</TD><TD valign=top width=18.933><P>&nbsp;</P></TD><TD valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>679,785&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=417.467><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred income taxes </P>
</TD><TD valign=top width=18.867><P>&nbsp;</P></TD><TD valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>206,404&nbsp;</P>
</TD><TD valign=top width=18.933><P>&nbsp;</P></TD><TD valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>42,701&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=417.467><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bad debt expense </P>
</TD><TD valign=top width=18.867><P>&nbsp;</P></TD><TD valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>47,150&nbsp;</P>
</TD><TD valign=top width=18.933><P>&nbsp;</P></TD><TD valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>39,288&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=417.467><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Increase) decrease in operating assets </P>
</TD><TD valign=top width=18.867><P>&nbsp;</P></TD><TD valign=top width=89.4><P>&nbsp;</P></TD><TD valign=top width=18.933><P>&nbsp;</P></TD><TD valign=top width=89.4><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=417.467><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=top width=18.867><P>&nbsp;</P></TD><TD valign=top width=89.4><P>&nbsp;</P></TD><TD valign=top width=18.933><P>&nbsp;</P></TD><TD valign=top width=89.4><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=417.467><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=top width=18.867><P>&nbsp;</P></TD><TD valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>87,146&nbsp;</P>
</TD><TD valign=top width=18.933><P>&nbsp;</P></TD><TD valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>(494,096)</P>
</TD></TR>
<TR><TD valign=top width=417.467><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=top width=18.867><P>&nbsp;</P></TD><TD valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>10,832,151&nbsp;</P>
</TD><TD valign=top width=18.933><P>&nbsp;</P></TD><TD valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>3,325,654&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=417.467><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=top width=18.867><P>&nbsp;</P></TD><TD valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>(1,527,680)</P>
</TD><TD valign=top width=18.933><P>&nbsp;</P></TD><TD valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>(517,967)</P>
</TD></TR>
<TR><TD valign=top width=436.333 colspan=2><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=top width=89.4><P style="margin:0px; font-family:Arial" align=right>(204,853)</P>
</TD><TD valign=top width=18.933><P>&nbsp;</P></TD><TD valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>(723,503)</P>
</TD></TR>
<TR><TD valign=top width=417.467><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=top width=18.867><P>&nbsp;</P></TD><TD valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>849,042&nbsp;</P>
</TD><TD valign=top width=18.933><P>&nbsp;</P></TD><TD valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>3,541,895&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=417.467><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=top width=18.867><P>&nbsp;</P></TD><TD valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD><TD valign=top width=18.933><P>&nbsp;</P></TD><TD valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>(185,243)</P>
</TD></TR>
<TR><TD valign=top width=436.333 colspan=2><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=top width=89.4><P style="margin:0px; font-family:Arial" align=right>109,032&nbsp;</P>
</TD><TD valign=top width=18.933><P>&nbsp;</P></TD><TD valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>191,617&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=417.467><P style="margin:0px; font-family:Arial">&nbsp;Net cash provided by operating activities </P>
</TD><TD valign=top width=18.867><P>&nbsp;</P></TD><TD valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>26,105,339&nbsp;</P>
</TD><TD valign=top width=18.933><P>&nbsp;</P></TD><TD valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>18,660,065&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=417.467><P>&nbsp;</P></TD><TD valign=top width=18.867><P>&nbsp;</P></TD><TD valign=top width=89.4><P>&nbsp;</P></TD><TD valign=top width=18.933><P>&nbsp;</P></TD><TD valign=top width=89.4><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=417.467><P style="margin:0px; font-family:Arial">&nbsp;Cash flows from investing activities: </P>
</TD><TD valign=top width=18.867><P>&nbsp;</P></TD><TD valign=top width=89.4><P>&nbsp;</P></TD><TD valign=top width=18.933><P>&nbsp;</P></TD><TD valign=top width=89.4><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=417.467><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;Net change in investments </P>
</TD><TD valign=top width=18.867><P>&nbsp;</P></TD><TD valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>2,150,000&nbsp;</P>
</TD><TD valign=top width=18.933><P>&nbsp;</P></TD><TD valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>(8,755,000)</P>
</TD></TR>
<TR><TD valign=top width=417.467><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;Purchases of property and equipment </P>
</TD><TD valign=top width=18.867><P>&nbsp;</P></TD><TD valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>(583,115)</P>
</TD><TD valign=top width=18.933><P>&nbsp;</P></TD><TD valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>(354,900)</P>
</TD></TR>
<TR><TD valign=top width=436.333 colspan=2><P style="margin:0px; font-family:Arial">&nbsp;Net cash provided by (used in) investing activities </P>
</TD><TD valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>1,566,885&nbsp;</P>
</TD><TD valign=top width=18.933><P>&nbsp;</P></TD><TD valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>(9,109,900)</P>
</TD></TR>
<TR><TD valign=top width=417.467><P>&nbsp;</P></TD><TD valign=top width=18.867><P>&nbsp;</P></TD><TD valign=top width=89.4><P>&nbsp;</P></TD><TD valign=top width=18.933><P>&nbsp;</P></TD><TD valign=top width=89.4><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=417.467><P style="margin:0px; font-family:Arial">&nbsp;Cash flows from financing activities: </P>
</TD><TD valign=top width=18.867><P>&nbsp;</P></TD><TD valign=top width=89.4><P>&nbsp;</P></TD><TD valign=top width=18.933><P>&nbsp;</P></TD><TD valign=top width=89.4><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=417.467><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;Dividends paid </P>
</TD><TD valign=top width=18.867><P>&nbsp;</P></TD><TD valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>(2,263,699)</P>
</TD><TD valign=top width=18.933><P>&nbsp;</P></TD><TD valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=417.467><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;Purchases of treasury stock </P>
</TD><TD valign=top width=18.867><P>&nbsp;</P></TD><TD valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD><TD valign=top width=18.933><P>&nbsp;</P></TD><TD valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>(2,191,976)</P>
</TD></TR>
<TR><TD valign=top width=436.333 colspan=2><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from the exercise of stock options </P>
</TD><TD valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>476,093&nbsp;</P>
</TD><TD valign=top width=18.933><P>&nbsp;</P></TD><TD valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>1,230,738&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=436.333 colspan=2><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;Tax benefit related to stock options exercised </P>
</TD><TD style="border-bottom:1px solid #000000" valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>177,579&nbsp;</P>
</TD><TD valign=top width=18.933><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>110,379&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=417.467><P style="margin:0px; font-family:Arial">&nbsp;Net cash used in financing activities </P>
</TD><TD valign=top width=18.867><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>(1,610,027)</P>
</TD><TD valign=top width=18.933><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>(850,859)</P>
</TD></TR>
<TR><TD valign=top width=417.467><P>&nbsp;</P></TD><TD valign=top width=18.867><P>&nbsp;</P></TD><TD valign=top width=89.4><P>&nbsp;</P></TD><TD valign=top width=18.933><P>&nbsp;</P></TD><TD valign=top width=89.4><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=417.467><P style="margin:0px; font-family:Arial">&nbsp;Net increase in cash and cash equivalents </P>
</TD><TD valign=top width=18.867><P>&nbsp;</P></TD><TD valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>26,062,197&nbsp;</P>
</TD><TD valign=top width=18.933><P>&nbsp;</P></TD><TD valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>8,699,306&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=436.333 colspan=2><P style="margin:0px; font-family:Arial">&nbsp;Cash and cash equivalents, at beginning of period </P>
</TD><TD style="border-bottom:1px solid #000000" valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>30,126,041&nbsp;</P>
</TD><TD valign=top width=18.933><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>20,267,829&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=417.467><P>&nbsp;</P></TD><TD valign=top width=18.867><P>&nbsp;</P></TD><TD valign=top width=89.4><P>&nbsp;</P></TD><TD valign=top width=18.933><P>&nbsp;</P></TD><TD valign=top width=89.4><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=417.467><P style="margin:0px; font-family:Arial">&nbsp;Cash and cash equivalents, at end of period </P>
</TD><TD valign=top width=18.867><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>56,188,238&nbsp;</P>
</TD><TD valign=top width=18.933><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>28,967,135&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=417.467><P>&nbsp;</P></TD><TD valign=top width=18.867><P>&nbsp;</P></TD><TD valign=top width=89.4><P>&nbsp;</P></TD><TD valign=top width=18.933><P>&nbsp;</P></TD><TD valign=top width=89.4><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=525.733 colspan=3><P style="margin:0px; font-family:Arial">&nbsp;Supplemental disclosure of cash flow information: </P>
</TD><TD valign=top width=18.933><P>&nbsp;</P></TD><TD valign=top width=89.4><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=417.467><P>&nbsp;</P></TD><TD valign=top width=18.867><P>&nbsp;</P></TD><TD valign=top width=89.4><P>&nbsp;</P></TD><TD valign=top width=18.933><P>&nbsp;</P></TD><TD valign=top width=89.4><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=417.467><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;Cash paid for income taxes </P>
</TD><TD valign=top width=18.867><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>9,355,000&nbsp;</P>
</TD><TD valign=top width=18.933><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>7,281,000&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=417.467><P>&nbsp;</P></TD><TD valign=top width=18.867><P>&nbsp;</P></TD><TD valign=top width=89.4><P>&nbsp;</P></TD><TD valign=top width=18.933><P>&nbsp;</P></TD><TD valign=top width=89.4><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=417.467><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;Retirement of treasury stock </P>
</TD><TD valign=top width=18.867><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD><TD valign=top width=18.933><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>2,226,253&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=417.467><P>&nbsp;</P></TD><TD valign=top width=18.867><P>&nbsp;</P></TD><TD valign=top width=89.4><P>&nbsp;</P></TD><TD valign=top width=18.933><P>&nbsp;</P></TD><TD valign=top width=89.4><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=417.467><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;Property and equipment purchases in accounts payable </P>
</TD><TD valign=top width=18.867><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>527,937&nbsp;</P>
</TD><TD valign=top width=18.933><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=417.467><P>&nbsp;</P></TD><TD valign=top width=18.867><P>&nbsp;</P></TD><TD valign=top width=89.4><P>&nbsp;</P></TD><TD valign=top width=18.933><P>&nbsp;</P></TD><TD valign=top width=89.4><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=417.467><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;Dividends payable in accrued expenses </P>
</TD><TD valign=top width=18.867><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>19,388&nbsp;</P>
</TD><TD valign=top width=18.933><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=top width=89.4><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD></TR>
</TABLE>
<P style="margin:0px"><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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