The Company is hosting an investor conference call on
Thursday, November 10th, 2011, at 10:00AM (EST) which can be accessed at
1-877-240-9772 or on-line at www.pethealthinc.com.
For those unable to participate, a replay of the call will be available shortly
after the call concludes on the Company's website at www.pethealthinc.com.
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CONSOLIDATED FINANCIAL
HIGHLIGHTS: For three months
ended
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('000) Sep 30, 2011 Sep 30, 2010 Change %
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Insurance Commissions and
Fees $ 5,466
$ 5,784 (5)%
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Microchip Technology and Non-
insurance
Revenue 2,852 2,397 19%
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Total Revenue 8,318 8,181 2%
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Cost of Goods Sold 1,461 1,337 9%
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Selling and marketing 2,724 3,020 (10)%
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Administrative and general 3,252 3,279 (1)%
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Other income - - -
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Other expenses 106 (16) 763%
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Total Expenses 7,543 7,620 (1)%
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Results from operating
activities 775 561 38%
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Finance revenue 15 14 7%
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Finance costs (5) (37) 86%
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Profit before income tax 785 538 46%
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Income tax
expense 21 128 (84)%
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Net Income 764 410 86%
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EPS - Basic (1) 0.02 0.01 100%
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EPS - Diluted (1) 0.02 0.01 100%
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EBITDA (2) 1,239 984 26%
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Adjusted EBITDA (3) 1,269 929 37%
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Gross Premiums Earned by
Carriers 14,289 15,367 (7)%
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(1) Basic and diluted earnings per share are adjusted to
reflect the
dividend
payments made during the first quarter of 2011 and 2010. For
the quarter
ended September 30, 2011 the Company had weighted average
basic common
shares of 32,513,568 (2010 - 32,505,235) and fully diluted
common shares
of 37,515,527 (2010 - 37,484,539).
(2) The Company believes the presentation of EBITDA is a
useful means of
providing investors
with additional information in reviewing and
analyzing the
Company's operating results. EBITDA is considered to be a
non-IFRS
earnings measure and does not have any standardized meaning
prescribed by
IFRS. It is, therefore, unlikely to be comparable to
similar
measures presented by other issuers. EBITDA is net income
adjusted for
interest, taxes and amortization.
(3) The Company believes the presentation of Adjusted
EBITDA is a useful
means of
providing investors with additional information in reviewing
and analyzing
the Company's operating results. Adjusted EBITDA is
considered to
be a non-IFRS earnings measure and does not have any
standardized
meaning prescribed by IFRS. It is, therefore, unlikely to
be comparable
to similar measures presented by other issuers. Adjusted
EBITDA is
EBITDA adjusted for stock option and equity-based compensation
expense and
non-cash translation gains and losses associated with the
Company's U.S.
denominated debt.
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CONSOLIDATEDFINANCIAL
HIGHLIGHTS: For nine months
ended
----------------------------------------------------------------------------
('000) Sep 30, 2011 Sep 30, 2010 Change %
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Insurance Commissions and
Fees $ 16,399
$ 17,798 (8)%
----------------------------------------------------------------------------
Microchip Technology and Non-
insurance
Revenue 8,047 6,593 22%
----------------------------------------------------------------------------
Total Revenue 24,446 24,391 0.2%
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Cost of Goods Sold 4,088 3,481 17%
----------------------------------------------------------------------------
Selling and marketing 7,928 9,680 (18)%
----------------------------------------------------------------------------
Administrative and general 10,077 9,710 4%
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Other income - - -
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Other expenses 147 36 308%
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Total Expenses 22,240 22,907 (3)%
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Results from operating
activities 2,206 1,484 49%
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Finance revenue 55 41 34%
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Finance costs
(25) (134) 81%
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Profit before income tax 2,236 1,391 61%
----------------------------------------------------------------------------
Income tax
expense 315 (284) 211%
----------------------------------------------------------------------------
Net Income 1,921 1,675 15%
----------------------------------------------------------------------------
----------------------------------------------------------------------------
EPS - Basic (1)
0.04 0.03 33%
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EPS - Diluted (1) 0.04 0.03 33%
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EBITDA (2) 3,600 2,747 31%
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Adjusted EBITDA (3) 3,647 2,735 33%
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