drugstore.com inc. Achieves GAAP Profitability in the Fourth Quart...(e range of$2.9 million to $2.4 million a...),Health

Date:2/6/2008

e range of $2.9 million to $2.4 million, and adjusted EBITDA in the range of $1.9 million to $2.4 million. First quarter adjusted EBITDA guidance includes a $1.3 million investment in consulting services associated with profitability initiatives, which will result in improved margins throughout the remainder of 2008.

Financial and Operational Highlights for the Fourth Quarter of 2007

(All comparisons are made to the fourth quarter of 2006)

Key Financial Highlights:

-- Gross margins for the quarter increased 300 basis points to a record

high of 24.6%. For the year, gross margins improved 170 basis points

to 23.3%.

-- Total contribution margin dollars increased by over 30% for the quarter

and for the year improved by 20%.

-- Total orders grew by 9% to 1.6 million, while contribution margin

dollars per order grew almost 20% to approximately $13. For the year,

total orders increased by 10%, while contribution margin dollars per

order grew to approximately $12.

-- Cash, cash equivalents and marketable securities were $36.2 million at

year end.

Net Sales Summary:

-- Core OTC [1] revenues grew by approximately 18% to $65.4 million in the

quarter and increased by 19% to $232.4 million for the year.OTC net

sales grew by over 17% to $65.9 million. For the year, OTC net sales

grew by over 18% to $234.3 million.

-- Vision net sales grew approximately 6% to $12.7 million and for the

year increased over 10% to $54.9 million.

-- Local pick-up pharmacy net sales were up approximately 4% to

$26.9 million and for the year increased by approximately 6% to

$106.4 million.

-- Mail-order pharmacy net sales were down to $12.7 million. For the

year, mail order pharmacy net sales decreased 26% while contribution

margins dollars increased 10%.

-- Average net sales per
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SOURCE drugstore.com, inc. Copyright©2008 PR Newswire. All rights reserved

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