OurPet’s Company, a proprietary pet supply company out of Fairport Harbor, Ohio, has reported record financial results for its fourth quarter and year ended Dec. 31, 2009. Net revenues increased 18 percent for the 2009 fourth quarter to a record $3,741,050 from $3,161,243 for the same period a year ago, the company said.

Gross profit increased 32 percent to $1,120,524 for the 2009 fourth quarter from $848,687 the year before. Gross profit margin increased 3.1 percentage points to 30.0 percent for the 2009 fourth quarter from 26.9 percent for the 2008 fourth quarter because of higher revenues, steady improvement and favorable product mix, according to the company.

Income from operations increased to $225,730 for the 2009 fourth quarter from $96,645 last year. Net income for the 2009 fourth quarter increased to $319,136, or $0.02 per diluted share, from $50,698, or $0.00 per share, for the same period in 2008.

Net revenues increased 15 percent to a record $14,251,786 for the year ended Dec. 31, 2009, from $12,410,135 the prior year. Gross profit increased 22 percent for 2009 versus the year before and gross profit margin increased to 30.0 percent for 2009 from 28.2 percent for 2008.

Dr. Steven Tsengas, president and CEO, said the company achieved double-digit growth in net revenues.

“This performance benefited from tight cost controls as reflected in gross profit margin and inventory management,” he said.

The company plans to carry the success of 2009 into 2010, Tsengas said.

“We stayed the course of our long-range business plan and successfully executed our strategy in a volatile business and economic environment," he continued. “These accomplishments included further progress regarding implementation of our consumer brand strategy as we moved closer to a total consumer brand portfolio.

"This improved brand equity is expected to provide additional benefits as we continue to increase our market penetration, especially with Play N Squeak, and launch more than 100 new products (SKUs) at the International Global Pet Exposition next month,” he added. <HOME>