Fountain Report Excerpts May 30, 2023

Fountain Report Excerpts
  1. New Jersey’s first veterinary school recently broke ground in Glassboro, at Rowan University. The Schreiber School of Veterinary Medicine, named after founding donor Gerald B. Schreiber, expects to welcome its inaugural class of students in fall 2025. By allowing New Jersey residents to stay in-state for their education, veterinary professionals hope the new school helps fill a shortage of animal doctors in the state. The veterinary school will offer a hybrid clinical training model, an accelerated DVM/MBA program, master’s and Ph.D. programs, and an accelerated undergraduate-to-DVM program, Dr. Emily Singler writes for the American Animal Hospital Association.
  1. PetMed Express reported fourth quarter net sales of $62.4 million, down 5.4%. Net loss was $5.1 million, or 25 cents per share, which includes $7.9 million, or 29 cents per diluted share, for items management believes are not indicative of the company’s ongoing operations. This compares to net income of $6.1 million, or 30 cents diluted earnings per share, last year. New customers increased 12% year over year for the quarter. Net sales for the year were $256.9 million, down 6.1%. Net income was $233,000, or 1 cent diluted earnings per share. This compares to net income of $21.1 million, or $1.04 diluted earnings per share, last year.
  1. Digital pet pharmacy Allivet announced a partnership with Blain’s Farm & Fleet, a family-owned discount retailer with 45 locations. The partnership gives Blain’s Farm & Fleet customers online access to Allivet’s pet medications and over-the-counter products. Through the partnership, Blain’s Farm & Fleet has launched a pet pharmacy website powered by Allivet.

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