Pets are part of the family these days. We register them in
the American Kennel Club or the American Kennel Association; buy them insurance
and health plans; make monthly appointments at the groomer and veterinarian;
and are projected to spend $61 billion in 2015 on our pets in the U.S. alone,
according to the American Pet Products Association. OurPet’s Company (OTC:
OPCO) is capitalizing on this already prodigious and constantly growing market
with its innovative, high quality product line designed to improve the health,
comfort, safety, and enjoyment of pets.
The company markets its products through two brands: the
OurPets brand caters to pet specialty customers and consumers and the Pet Zone
brand focuses on the needs of the food/drug/mass-market channel and shoppers.
In the third quarter, OurPet’s reported record revenue of $6
million, which was a 7 percent increase from the comparable 2014-quarter. The
company also reported a massive 428 percent increase in net income to $410,450,
or $0.02 diluted earnings per share, compared to $77,751, or $0.00, for the
third quarter of 2014.
Growth is key to determining whether a small company is on
the right track. In the third quarter press release, Dr. Steven Tsengas,
president and CEO, commented, “We have expanded and strengthened our
relationship with several domestic and international independent sales
representative organizations, and have added another experienced salesperson to
our staff.”
Nearly 100 million households own either a dog or cat,
according to the American Pet Products Association, and with the health
conscience consumer segment experiencing rapid growth, it is logical to predict
that this type of shopper will want to buy the same type of safe, healthy and
innovative products for their pets. OurPet’s is poised for a breakout year in
2016 after expanding its product line, distribution cycle and adding more
talent to its sales team.
For more information, visit the company’s website at
www.ourpets.com
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