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OurPet’s Company, a company that began its roots in 1995 with the manufacture of the Big Dog Feeder raised feeding system, recently reported their fourth quarter net revenue. The net revenue was nearly $5.2 million with a net loss of nearly $153,000 for the three months ending December 31, 2011.
In terms of comparison, the company showed a 10.4 percent net revenue increase versus their fourth quarter period one year ago. At that time, the net revenue was nearly $4.7 million compared to the $5.2 million of its recent quarter. It is believed the 2011 fourth quarter net revenue increase was due, in part, to increased sales of storage and feeding products as well as the company’s Cosmic Catnip products.
Operations loss total nearly $182,000 for quarter four of 2011 versus approximately $455,000 for the same period of 201. It is believed the majority of year-over-year decrease was due to the $241,000 one time gain of the Cosmic Pet asset purchase in addition to quarter four 2011 inventory write down of $138,00, a $53,000 charge due to book to physical inventory differences and another nearly $200,000 increase in selling, administrative, and general expenses recorded in quarter four.
Dr. Steven Tsengas, Chairman and CEO, shared, “While we are disappointed with the net quarterly loss of $152,656, we are pleased that we achieved record net revenues in a very challenging economic environment… Although we do not see a robust retail environment in the short run, we are confident in our ability to exceed industry trends through product innovation, aggressive marketing and steadily improving operational capabilities. We continue investing for the future, including the recent addition of Mr. John Silvestri as President and COO, who brings over 30 years of pet and consumer product executive and marketing experience to OurPet’s.”
Several brands are touted in the OurPet’s Company portfolio, including Flappy dog toys, Durapet Premium Stainless Steel Pet Bowls, Pet Zone, ecoPure Naturals, Cosmic Catnip, SmartScoop, and Play-N-Squeak cat toys. OurPet’s is a publicly traded company.
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