Exhibit 99.1

PETMED EXPRESS D/B/A 1-800-PETMEDS ANNOUNCES ITS SECOND QUARTER FINANCIAL RESULTS

AND ITS $0.18 PER SHARE QUARTERLY DIVIDEND

Second Quarter Net Income Increased 18%

Pompano Beach, Florida, October 19, 2015 - PetMed Express, Inc. (NASDAQ: PETS) today announced its financial results for the quarter ended September 30, 2015.  Excluding a one-time charge for an IT-related discontinued project in the quarter and six months ended September 30, 2014, net income for the quarter ended September 30, 2015 was $4.5 million, or $0.22 diluted per share, compared to net income of $3.8 million, or $0.19 diluted per share, for the quarter ended September 30, 2014, an 18% increase to net income, and net income for the six months ended September 30, 2015 was $10.3 million, or $0.51 diluted per share, compared to net income of $8.8 million, or $0.44 diluted per share, for the six months ended September 30, 2014, a 17% increase to net income.  This one-time IT-related discontinued project cost of $1.7 million was expensed in the quarter ended September 30, 2014.  The after tax net impact of this charge was $1.1 million, or $0.05 diluted per share.  Net sales for the quarter ended September 30, 2015 were $56.7 million, compared to $57.6 million for the quarter ended September 30, 2014, a decrease of 1.5%.  Net sales for the six months ended September 30, 2015 were $128.4 million, compared to $130.1 million for the six months ended September 30, 2014, a decrease of 1.4%.  The Company’s online sales for the quarter ended September 30, 2015 were approximately 81% of all sales, compared to 80% for the same quarter the prior year.  

Menderes Akdag, CEO and President, commented: “Despite sales being down slightly we were able to increase both gross profit margins and average order size during the quarter.  For the quarter ended September 30, 2015 our gross profit increased 128 basis points, which can be attributed to a shift in sales to higher margin items.  Our average order size increased to $80 for the quarter ended September 30, 2015, compared to $75 for the same quarter in the prior year.  Excluding the one-time charge in the quarter ended September 30, 2014, for the quarter ended September 30, 2015 our operating expenses decreased by about 79 basis points, which can be attributed to a reduction in advertising spending.  For the remainder of Fiscal 2016 we are focusing on improving our marketing efforts to increase sales and profitability.”

The Board of Directors declared a quarterly dividend of $0.18 per share on the Company’s common stock.  The dividend will be payable on November 13, 2015, to shareholders of record at the close of business on November 2, 2015.  The Company intends to continue to pay regular quarterly dividends; however the declaration and payment of future dividends is discretionary and will be subject to a determination by the Board of Directors each quarter following its review of the Company’s financial performance.

This morning at 8:30 A.M. Eastern Time, Mr. Akdag will host a conference call to review the quarter’s financial results.  To access the call, which is open to the public, please dial (888) 455-1758 (toll free) or (203) 827-7025.  Callers will be required to supply PETMEDS as the passcode.  For those unable to participate in the live event, the call will be available for replay from 10:00 A.M. on October 19, 2015 until November 3, 2015 at 11:59 P.M.  To access the replay, call (800) 688-2794 (toll free) or (203) 369-3685 and enter passcode 5500.

Founded in 1996, PetMed Express is America’s Largest Pet Pharmacy, delivering prescription and non-prescription pet medications and other health products for dogs and cats 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.

This press release may contain “forward-looking” 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’s ability to meet the objectives included in its business plan.  Important factors that could cause results to differ materially from those indicated by such “forward-looking” statements are set forth in Management’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, 2015.  The Company’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.

For investment relations contact PetMed Express, Inc., Bruce S. Rosenbloom, CFO, 954-979-5995.

###

Exhibit 99.1 Page 1 of 4

September 30,

March 31,

2015

2015

(Unaudited)

ASSETS

Current assets:

Cash and cash equivalents

$

42,180

$

35,613

Short term investments - available for sale

15,604

15,591

Accounts receivable, less allowance for doubtful accounts of $12 and $8, respectively

1,624

1,931

Inventories - finished goods

24,404

25,068

Prepaid expenses and other current assets

1,466

1,380

Deferred tax assets

761

817

Prepaid income taxes

60

-

Total current assets

86,099

80,400

Noncurrent assets:

Property and equipment, net

1,367

1,569

Intangible assets

860

860

Deferred tax assets

74

23

Total assets

$

88,400

$

82,852

LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities:

Accounts payable

$

7,277

$

5,153

Accrued expenses and other current liabilities

1,879

2,214

Income taxes payable

-

50

Total liabilities

9,156

7,417

Commitments and contingencies

Shareholders' equity:

Preferred stock, $.001 par value, 5,000 shares authorized; 3 convertible shares issued and outstanding with a liquidation preference of $4 per share

9

9

Common stock, $.001 par value, 40,000 shares authorized; 20,331 and 20,262 shares issued and outstanding, respectively

20

20

Additional paid-in capital

3,987

3,117

Retained earnings

75,301

72,343

Accumulated other comprehensive loss

(73

)

(54

)

Total shareholders' equity

79,244

75,435

Total liabilities and shareholders’ equity

$

88,400

$

82,852

Three Months Ended

Six Months Ended

September 30,

September 30,

2015

2014

2015

2014

Sales

$

56,725

$

57,576

$

128,359

$

130,117

Cost of sales

37,812

39,117

86,480

87,886

Gross profit

18,913

18,459

41,879

42,231

Operating expenses:

General and administrative

5,388

5,381

11,187

11,256

Advertising

6,249

6,915

14,134

16,811

Discontinued project costs

-

1,714

-

1,714

Depreciation

186

159

377

322

Total operating expenses

11,823

14,169

25,698

30,103

Income from operations

7,090

4,290

16,181

12,128

Other income:

Interest income, net

55

44

105

88

Other, net

(4

)

(2

)

(8

)

7

Total other income

51

42

97

95

Income before provision for income taxes

7,141

4,332

16,278

12,223

Provision for income taxes

2,639

1,600

6,019

4,518

Net income

$

4,502

$

2,732

$

10,259

$

7,705

Net change in unrealized gain (loss) on short term investments

16

(1

)

(19

)

7

Comprehensive income

$

4,518

$

2,731

$

10,240

$

7,712

Net income per common share:

Basic

$

0.22

$

0.14

$

0.51

$

0.39

Diluted

$

0.22

$

0.14

$

0.51

$

0.38

Weighted average number of common shares outstanding:

Basic

20,126

20,016

20,100

19,988

Diluted

20,246

20,146

20,222

20,119

Cash dividends declared per common share

$

0.18

$

0.17

$

0.36

$

0.34

Six Months Ended

September 30,

2015

2014

Cash flows from operating activities:

Net income

$

10,259

$

7,705

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation

377

322

Share based compensation

777

753

Discontinued project costs

-

1,714

Deferred income taxes

4

237

Bad debt expense

227

40

(Increase) decrease in operating assets and increase (decrease) in liabilities:

Accounts receivable

81

(235

)

Inventories - finished goods

664

15,192

Prepaid income taxes

(60

)

(1,816

)

Prepaid expenses and other current assets

(86

)

119

Accounts payable

2,125

(521

)

Income taxes payable

(50

)

-

Accrued expenses and other current liabilities

(277

)

80

Net cash provided by operating activities

14,041

23,590

Cash flows from investing activities:

Net change in investments

(33

)

(37

)

Purchases of property and equipment

(175

)

(372

)

Net cash used in investing activities

(208

)

(409

)

Cash flows from financing activities:

Dividends paid

(7,358

)

(6,946

)

Tax adjustment related to restricted stock

92

39

Net cash used in financing activities

(7,266

)

(6,907

)

Net increase in cash and cash equivalents

6,567

16,274

Cash and cash equivalents, at beginning of period

35,613

18,305

Cash and cash equivalents, at end of period

$

42,180

$

34,579

Supplemental disclosure of cash flow information:

Cash paid for income taxes

$

6,033

$

6,058

Dividends payable in accrued expenses

$

154

$

191