PetMed Express (NASDAQ:PETS) was a cranky dog on the stock market today, as the company's share price dropped following the release of Q4 fiscal 2019 results.

For the quarter, the animal healthcare company's net sales were $74.3 million, representing a 15% improvement over the same period last year. Net income also rose, increasing almost 6% to just over $7 million ($0.35 per share).

Both results convincingly beat analyst estimates, which on average called for $66.2 million on the top line, and a per-share net income of $0.29.

A dog and a cat resting together.

Image source: Getty Images.

Other metrics headed north for PetMed Express during the quarter. One was average order size, which rose to $90 from the year-ago quarter's $85; another was new customer additions (107,000 this quarter, versus 101,000 in Q4 2018).

The company attributed its gains to an increase in consumer appetite for online shopping in its very specialized niche. "[D]ue to COVID-19, demand has been strong for the eCommerce channel, with consumers shifting their purchases to online, which has positively impacted our sales," PetMed Express wrote in its earnings release. 

The company did not provide any guidance, either for the current quarter or the entirety of its fiscal 2020. It said that it hasn't yet experienced any disruption in its supply chain, but continues to monitor it closely.

PetMed Express also elected to raise its quarterly dividend. The new payout is $0.28 per share, $0.01 higher than the latest disbursement. It will be paid on May 22 to stockholders of record as of May 15; it would yield just under 3% at the most recent closing stock price.

Speaking of which, PetMed Express shares closed 2.8% lower on Monday, in contrast to the gains enjoyed by the broader stock market.