CINCINNATI, Aug. 25 /PRNewswire-FirstCall/ -- HealthWarehouse.com, Inc. (OTC Bulletin Board: HEWA) a leading online U.S. mail-order pharmacy, today announced its financial results for the second quarter ended June 30, 2009. The company reported quarterly net sales of $858,443, driven by heavy growth in prescription sales and pharmacy transfers. Gross margins increased 7.8% year-over-year to 28.3% and net loss for the quarter was $396,271.
"Consumers are increasingly switching to our service because of the lack of affordability at brick-and-mortar pharmacies," said Lalit Dhadphale, President and CEO of HealthWarehouse.com. "Our competition incurs costs for expensive real estate and personnel, leading to significant overhead. With our centralized operations in Cincinnati, Ohio, we can reach 80% of the U.S. population in 2-3 days without the overhead of traditional pharmacies. As a result, we can offer lower prices and unmatched convenience to the consumer."
"In completing our initial quarter as a public company, we are pleased with our results," said Pat Delaney, Chief Financial Officer of HealthWarehouse.com. "Our improved conversion rate helped drive new customer growth and increased revenue. In this difficult economic environment, we continue to see consumers using HealthWarehouse.com to save on prescription medications and over-the-counter products. Our results show that we are succeeding in providing significant value to the consumer, in terms of both cost and convenience."
Key Highlights For The Second Quarter 2009 Compared To Second Quarter 2008:
HealthWarehouse.com, based in Cincinnati, Ohio, is a leading online pharmacy offering a prescription drug program for a 30-day supply of over 300 popular generic prescription drugs for $3.50. With outstanding service and competitive pricing, HealthWarehouse.com is poised to set the standard for delivering significant value to consumers on prescription medications. The program is available to customers in 37 states and the District of Columbia and will be expanded to all 50 states and U.S. Territories in the coming months.
Key components of HealthWarehouse.com's Prescription Drug Program:
About HealthWarehouse.com, Inc.
HealthWarehouse.com, Inc. (TICKER: HEWA) is a leading online mail-order pharmacy headquartered in Cincinnati, Ohio. HealthWarehouse.com's mission is to provide affordable healthcare to every American. With a 99% positive customer rating, HealthWarehouse.com has become one of the fastest growing online pharmacies in the United States. HealthWarehouse.com only sells drugs which are FDA-approved and legal for sale in the United States. Visit us online at http://www.HealthWarehouse.com.
The information contained in this press release contains "forward-looking statements," within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. A forward-looking statement is one which is based on current expectations of future events or conditions and does not relate to historical or current facts. These statements include various estimates, forecasts, projections of HealthWarehouse.com's future performance, statements of HealthWarehouse.com's plans and objectives, and other similar statements. Forward-looking statements include phrases such as "expects," "anticipates," "intends," "plans," "believes," "predicts," "estimates," "assumes," "projects," "may," "will," "will be," "should," or similar expressions. Although HealthWarehouse.com believes that its current expectations are based on reasonable assumptions, it cannot assure you that the expectations contained in such forward-looking statements will be achieved. Forward-looking statements involve risks, uncertainties and assumptions which could cause actual results to differ materially from those contained in such statements. Investors should not place undue reliance on the forward-looking statements contained in this press release, as they speak only as of the date of this press release, and HealthWarehouse.com expressly disclaims any obligation or undertaking to publicly release any updates or revisions to any forward-looking statements contained herein.
This release is provided for informational purposes only and should not be construed as a solicitation to invest.
|SOURCE HealthWarehouse.com, Inc.|
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