Investors tired of getting whipsawed by the current stock market gyrations may wish to investigate a stable stock such as PetMed Express (NASDAQ: PETS). Americans currently spend in excess of $40 billion a year on their pets. That figure is expected to rise 12% annually for the next few years as pets fill the void in empty-nester baby boomer households. PetMed Express is sitting on $55 million in cash and NO debt.

At just under $12 per share, PetMed is near its 52-week low. The company recently instituted a $20 million stock buyback program. Latest quarterly and YTD numbers look great. Net sales in 3Q increased 19% to $37.3 million. YTD net sales are up 18% to $148 million. 3Q net income is up a huge 60% to $4.4 million. YTD net income increased 40% to $14 million.

65% of all company orders are placed through the company's website, and online sales continue to increase by volume. Reorder sales increased 28%, meaning more and more pet owners are perfectly comfortable ordering their pets' medication via the internet, just as they do their own.

PetMed Express (PETS) net income up 60% originally appeared on BloggingStocks on Wed, 23 Jan 2008 16:02:00 EST. Please see our terms for use of feeds.