The Company is hosting an investor conference call onThursday, November 10th, 2011, at 10:00AM (EST) which can be accessed at1-877-240-9772 or on-line at www.pethealthinc.com.For those unable to participate, a replay of the call will be available shortlyafter the call concludes on the Company's website at www.pethealthinc.com.
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CONSOLIDATED FINANCIAL
HIGHLIGHTS: For three monthsended
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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-
insuranceRevenue 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 taxexpense 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 toreflect the
dividendpayments made during the first quarter of 2011 and 2010. For
the quarterended September 30, 2011 the Company had weighted average
basic commonshares of 32,513,568 (2010 - 32,505,235) and fully diluted
common sharesof 37,515,527 (2010 - 37,484,539).
(2) The Company believes the presentation of EBITDA is auseful means of
providing investorswith additional information in reviewing and
analyzing theCompany's operating results. EBITDA is considered to be a
non-IFRSearnings measure and does not have any standardized meaning
prescribed byIFRS. It is, therefore, unlikely to be comparable to
similarmeasures presented by other issuers. EBITDA is net income
adjusted forinterest, taxes and amortization.
(3) The Company believes the presentation of AdjustedEBITDA is a useful
means ofproviding investors with additional information in reviewing
and analyzingthe Company's operating results. Adjusted EBITDA is
considered tobe a non-IFRS earnings measure and does not have any
standardizedmeaning prescribed by IFRS. It is, therefore, unlikely to
be comparableto similar measures presented by other issuers. Adjusted
EBITDA isEBITDA adjusted for stock option and equity-based compensation
expense andnon-cash translation gains and losses associated with the
Company's U.S.denominated debt.
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CONSOLIDATEDFINANCIAL
HIGHLIGHTS: For nine monthsended
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('000) Sep 30, 2011 Sep 30, 2010 Change %
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Insurance Commissions and
Fees $ 16,399 $ 17,798 (8)%
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Microchip Technology and Non-
insuranceRevenue 8,047 6,593 22%
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Total Revenue 24,446 24,391 0.2%
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Cost of Goods Sold 4,088 3,481 17%
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Selling and marketing 7,928 9,680 (18)%
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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)%
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Results from operating
activities 2,206 1,484 49%
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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%
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Income taxexpense 315 (284) 211%
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Net Income 1,921 1,675 15%
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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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