Pet supply company OurPet’s sees record third quarter results
OurPet's Company, a leading proprietary pet supply company, saw sales in its grocery, mass retail and pet specialty channels grow substantially in the third quarter ended Sept. 30, compared to the same period last year.
The company’s sales were also complemented by higher international sales, which were up more than 42% from the same quarter a year ago.
The company’s net revenue increased 34% to $5.7 million, a third quarter record for the company, driven by higher sales to a majority of the company's top customers, especially in the food, drug and mass markets, plus further diversification in the company's sales channels.
"Our record 2013 third quarter results reflect solid progress and position us to achieve additional improvements across our business in the fourth quarter and into next year,” said Dr. Steven Tsengas, chairman and CEO. “Our long-term growth strategy includes double-digit increases in net revenue and net income as we continue to execute our plans in multiple sales channels and with ongoing attention to our operating margins. The net revenue increase for the most recent quarter was specifically due to solid performance in our base business and core product lines."
As the company looks ahead to 2014, it expects to drive performance through growth in its base business and by further expanding core product lines, including the launch of new products.
OurPet's Company designs, produces and markets a broad line of accessory and consumable pet products in the U.S. and overseas.