Hot Growth Special Report 2006 >



PetMed Express (PETS)

What hasn't killed PetMed Express has only made it stronger. The online seller of pet medications and supplies has survived regulatory challenges initiated by veterinarians who felt PetMed's Internet-based business cut into their sales of pet drugs to their customers. At the same time, the Pompano Beach (Fla.) company had to win over major pharmaceutical companies -- reluctant to create friction among veterinarians -- to sell their products over PetMed's Web site. But PetMed Chairman and CEO Dr. Marc Puleo persisted. His persistence has paid off for the company, which he founded in 1996. Revenue has skyrocketed from $10 million in 2001 to $108.4 million in 2005, and net income along with it. After suffering a $2.8 million loss in 2001, PetMed earned a tidy $8 million profit last year. Meantime, its share price has zoomed from around $2 to almost $16 today. Just what the doctor ordered.

Company Info

2005 Rank


Market Value*
($ Millions)


($ Millions)


Sales Growth
(3-yr. avg. annual)

31.8 %

($ Millions)


Profit Growth
(3-yr. avg. annual)

50.1 %

Return on Inv. Capital (3-yr.)

36.0 %

Share Price
12-Mo. Hi/Lo


Share Price
As of 4/28/06


Return on Equity

32.1 %

P/E Ratio


No. of Employees


Industry Catalog Retail


Location Pompano Beach, Fla.
Phone 954 979-5995
*Trailing 12 months
Stock price data as of 4/28/06
DATA: Standard & Poor's Compustat

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Company Snapshot

PetMed Express, doing business as 1-800-PetMeds, delivers prescription and nonprescription pet medications and other health products for dogs, cats, and horses in the U.S. Petmed Express prescription medication products include heartworm treatments, thyroid and arthritis medications, antibiotics, and other specialty medications, as well as generic substitutes. Its nonprescription medication offerings include flea and tick control products, bone and joint care products, vitamins and nutritional supplements, and hygiene products. The company sells its products primarily to retail consumers. It also sells nonprescription medications to various businesses, including pet stores, groomers, and traditional brick-and-mortar stores. The company distributes its products through its 1-800-PetMeds toll free number and on the Internet through its Web site at PetMed Express was founded in 1996 and is based in Pompano Beach, Fla.

Data provided by Capital IQ
Menderes Akdag

Menderes Akdag, 44

Chief Executive Officer and Director

Total Compensation*

$ 250,000

Total Options Value*

$ 708,750

* Fiscal Year 2005

University of Florida - BS

Executive Bio

Menderes Akdag has been chief executive of PetMed Express since March, 2001. Prior to joining PetMed Express, Akdag served as CEO of International Cosmetics Marketing from November, 2000, until March, 2001, of Beverly Sassoon & Co., a publicly held direct sales company distributing skin care and nutritional products. From May, 1991, until August, 2000, Akdag was employed by Lens Express, a subsidiary of Summit Technology, serving as president from May, 1996, until August, 2000; CEO from August, 1992, until May, 1996; and CFO from May, 1991, until August, 1992. Prior to joining Summit Technology, Akdag was finance manager for Beksa Steel Cord Manufacturing & Trading. Akdag has been a director of PetMed Express since November, 2002. He served as a member of the board of directors of Lens Express from August, 1992, until May, 1996, and from May, 1991, until August, 1992. Akdag holds a BS in business administration from the University of Florida, where he graduated with high honors.

Management Team

Key Executives

Menderes Akdag; Marc A. Puleo; Bruce S. Rosenbloom

Board Directors

Frank Formica; Robert C. Schweitzer; Ronald J. Korn; Gian Fulgoni; Marc A. Puleo; Menderes Akdag; Gian M. Fulgoni

Executive Data provided by Capital IQ