Founded in 1996, PetMed Express is America's Largest Pet Pharmacy, delivering prescription and non-prescription pet medications and other health products for dogs, cats, and horses 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, 2009. 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.

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: PetMed Express, Inc.

CONTACT:  PetMed Express, Inc.
Investment Relations
Bruce S. Rosenbloom, CFO
(954) 979-5995
Fax: (954) 971-0544

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GMX Resources Inc. (GMXR) announced that it has launched a public offering of 5.75 million shares of the Company's common stock as well as a concurrent public offering of $70 million in aggregate principal amount of the Company's convertible senior notes due 2015.

Shares of GMX are down over eleven and one half percent so far today.

PetMed Express (PETS) announced its financial results for the quarter ended September 30, 2009. While earnings were inline with estimates, sales fell below analysts' expectations by over three and a half million dollars, sending shares lower today.

Currently, PetMed is trading down by twelve percent.

The preceeding is a transcript of the MarketNewsVideo.com video published at: http://www.marketnewsvideo.com/?id=200910BigLosers101909&mv=1.

http://www.marketnewsvideo.com/

Menderes Akdag, CEO and President, commented: "We are pleased to report a 17% increase to our income from operations for the quarter ended September 30, 2009. We acquired approximately 233,000 new customers in the September quarter. Our costs to acquire a new customer decreased by 8% to $33 for the quarter ended September 30, 2009, compared to $36 for the same period in the prior year. We are pleased to report that our operating expenses as a percent of sales improved by 200 basis points in the September quarter, compared to the same quarter in the prior year. We are also pleased to report that our cash flows from operations increased to $26.1 million for the six months ended September 30, 2009 from $18.7 million for the same period the prior year. Our continuing focus will be on capturing additional market share, increasing reorders with personalized communication and health education content, and improving our customer service levels in fiscal 2010."

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 (210) 234-0009. 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, 2009 until November 2, 2009 at 11:59 P.M. To access the replay, call (800) 695-3640 (toll free) or (402) 220-0318, 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, cats, and horses 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, 2009. 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.

                 PETMED EXPRESS, INC. AND SUBSIDIARIES
                CONDENSED CONSOLIDATED BALANCE SHEETS

                                          September 30,     March 31,
                                              2009            2009
                                          -------------  -------------
                                           (UNAUDITED)

                   ASSETS
                   ------
 Current assets:
  Cash and cash equivalents               $ 56,188,238   $ 30,126,041
  Accounts receivable, less allowance for
   doubtful  accounts of $55,864 and
   $58,525, respectively                     2,746,789      2,881,085
  Inventories - finished goods              15,945,945     26,778,096
  Prepaid expenses and other current
   assets                                      958,455        753,602
  Deferred tax assets                          963,913        724,561
  Prepaid income taxes                       1,889,423        361,743
                                          -------------  -------------
         Total current assets               78,692,763     61,625,128

  Long term investments                     12,312,500     14,430,250
  Property and equipment, net                4,752,041      5,057,561
  Intangible assets                            850,000        850,000
                                          -------------  -------------

 Total assets                             $ 96,607,304   $ 81,962,939
                                          =============  =============

    LIABILITIES AND SHAREHOLDERS' EQUITY
    ------------------------------------

 Current liabilities:
  Accounts payable                        $  5,422,317   $  4,817,097
  Accrued expenses and other current
   liabilities                               2,306,258      2,177,838
                                          -------------  -------------
         Total current liabilities           7,728,575      6,994,935

  Deferred tax liabilities                     445,756             --
                                          -------------  -------------

 Total liabilities                           8,174,331      6,994,935
                                          -------------  -------------

 Commitments and contingencies

 Shareholders' equity:
  Preferred stock, $.001 par value,
   5,000,000 shares authorized; 2,500
   convertible shares issued and
   outstanding with a liquidation
   preference of $4 per share                    8,898          8,898
  Common stock, $.001 par value,
   40,000,000 shares authorized;
   22,835,370 and 22,686,836 shares issued
   and outstanding, respectively                22,835         22,687
  Additional paid-in capital                 1,375,877             --
  Retained earnings                         87,212,863     75,156,169
  Accumulated other comprehensive loss        (187,500)      (219,750)
                                          -------------  -------------

         Total shareholders' equity         88,432,973     74,968,004
                                          -------------  -------------

 Total liabilities and shareholders'
  equity                                  $ 96,607,304   $ 81,962,939
                                          =============  =============


                 PETMED EXPRESS, INC. AND SUBSIDIARIES
              CONDENSED CONSOLIDATED STATEMENTS OF INCOME
                              (UNAUDITED)

                       Three Months Ended         Six Months Ended
                          September 30,             September 30,
                        2009        2008         2009         2008
                   ------------ ------------ ------------ ------------

 Sales             $ 62,447,177 $ 59,569,141 $139,615,759 $127,935,824
 Cost of sales       38,764,973   36,710,850   86,647,428   79,287,231
                   ------------ ------------ ------------ ------------

 Gross profit        23,682,204   22,858,291   52,968,331   48,648,593
                   ------------ ------------ ------------ ------------

 Operating
  expenses:
   General and
    administrative    5,776,698    5,617,034   12,270,058   11,429,248
   Advertising        7,751,821    8,659,586   17,623,630   18,719,709
   Depreciation and
    amortization        322,478      162,076      644,813      317,628
                   ------------ ------------ ------------ ------------
 Total operating
  expenses           13,850,997   14,438,696   30,538,501   30,466,585
                   ------------ ------------ ------------ ------------

 Income from
  operations          9,831,207    8,419,595   22,429,830   18,182,008
                   ------------ ------------ ------------ ------------

 Other income:
   Interest income,
    net                  57,167      352,403      118,587      661,718
   Other, net             1,082      169,068        2,667      329,451
                   ------------ ------------ ------------ ------------
 Total other income      58,249      521,471      121,254      991,169
                   ------------ ------------ ------------ ------------

 Income before
  provision for
  income taxes        9,889,456    8,941,066   22,551,084   19,173,177

 Provision for
  income taxes        3,624,451    3,119,969    8,211,303    6,730,871
                   ------------ ------------ ------------ ------------

 Net income        $  6,265,005 $  5,821,097 $ 14,339,781 $ 12,442,306
                   ============ ============ ============ ============

 Net income per
  common share:
   Basic           $       0.28 $       0.25 $       0.64 $       0.53
                   ============ ============ ============ ============
   Diluted         $       0.28 $       0.25 $       0.63 $       0.53
                   ============ ============ ============ ============

 Weighted average
  number of common
  shares
  outstanding:
   Basic             22,614,372   23,485,477   22,569,414   23,504,284
                   ============ ============ ============ ============
   Diluted           22,755,245   23,669,854   22,718,428   23,670,893
                   ============ ============ ============ ============

 Cash dividends
  declared per
  common share     $       0.10 $         -- $       0.10 $         --
                   ============ ============ ============ ============


                 PETMED EXPRESS, INC. AND SUBSIDIARIES
           CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                              (UNAUDITED)

                                                Six Months Ended
                                                  September 30,
                                               2009           2008
                                          -------------  -------------

 Cash flows from operating activities:
  Net income                              $ 14,339,781   $ 12,442,306
  Adjustments to reconcile net income to
   net cash provided by operating
   activities:
    Depreciation and amortization              644,813        317,628
    Share based compensation                   722,353        679,785
    Deferred income taxes                      206,404         42,701
    Bad debt expense                            47,150         39,288
    (Increase) decrease in operating
     assets and increase (decrease) in
     liabilities:
      Accounts receivable                       87,146       (494,096)
      Inventories - finished goods          10,832,151      3,325,654
      Prepaid income taxes                  (1,527,680)      (517,967)
      Prepaid expenses and other current
       assets                                 (204,853)      (723,503)
      Accounts payable                         849,042      3,541,895
      Income taxes payable                          --       (185,243)
      Accrued expenses and other current
       liabilities                             109,032        191,617
                                          -------------  -------------
 Net cash provided by operating activities  26,105,339     18,660,065
                                          -------------  -------------

 Cash flows from investing activities:
  Net change in investments                  2,150,000     (8,755,000)
  Purchases of property and equipment         (583,115)      (354,900)
                                          -------------  -------------
 Net cash provided by (used in) investing
  activities                                 1,566,885     (9,109,900)
                                          -------------  -------------

 Cash flows from financing activities:
  Dividends paid                            (2,263,699)            --
  Purchases of treasury stock                       --     (2,191,976)
  Proceeds from the exercise of stock
   options                                     476,093      1,230,738
  Tax benefit related to stock options
   exercised                                   177,579        110,379
                                          -------------  -------------
 Net cash used in financing activities      (1,610,027)      (850,859)
                                          -------------  -------------

 Net increase in cash and cash equivalents  26,062,197      8,699,306
 Cash and cash equivalents, at beginning
  of period                                 30,126,041     20,267,829
                                          -------------  -------------

 Cash and cash equivalents, at end of
  period                                  $ 56,188,238   $ 28,967,135
                                          =============  =============

 Supplemental disclosure of cash flow
  information:
  Cash paid for income taxes              $  9,355,000   $  7,281,000
                                          =============  =============

  Retirement of treasury stock            $         --   $  2,226,253
                                          =============  =============

  Property and equipment purchases in
   accounts payable                       $    527,937   $         --
                                          =============  =============

  Dividends payable in accrued expenses   $     19,388   $         --
                                          =============  =============

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: PetMed Express, Inc.

CONTACT:  PetMed Express, Inc.
954-979-5995