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HealthWarehouse.com, Inc. Announces Second Quarter Financial Results; Revenues Increase Significantly Over Second Quarter 2008
Date:8/25/2009

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:

  • Gross margins increased from 20.5% to 28.3%
  • Total orders shipped were 20,956; up 575% from 3,645
  • Website attracted over 318,258 visits; up 573% from 55,518 visits
  • Page views increased to 1,162,215; up 593% from 195,949 page views

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SOURCE HealthWarehouse.com, Inc.
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