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drugstore.com inc. Reports Profitable Fourth Quarter of 2008 and Free Cash Flow of $5.4 Million on Record OTC Sales
Date:2/4/2009

BELLEVUE, Wash., Feb. 4 /PRNewswire-FirstCall/ -- drugstore.com, inc. (Nasdaq: DSCM), a leading online provider of health, beauty, vision, and pharmacy products, today announced its financial results for the fourth quarter and fiscal year ended December 28, 2008. The company reported quarterly net sales of $93.9 million and net income of $289,000. The company achieved fourth quarter gross margins of 28.5% and the highest adjusted EBITDA in the history of the company of $5.2 million, up 243% over the fourth quarter of 2007. Adjusted EBITDA is a non-GAAP financial measure defined as earnings before interest, taxes, depreciation, and amortization of intangible assets and non-cash marketing expense, adjusted to exclude the impact of stock-based compensation expense. Free cash flow, a non-GAAP financial measure, is defined as net cash provided by operating activities plus proceeds from the sale of discontinued operations, less purchases of fixed assets, including capitalized internally developed software and website development costs.

(Logo: http://www.newscom.com/cgi-bin/prnh/20070813/AQM043LOGO)

For the year, the company reported net sales of $366.6 million, a net loss of $8.3 million or $0.09 per share, and adjusted EBITDA of $13.9 million, more than double the adjusted EBITDA reported in fiscal year 2007. Additionally, the company reported operating cash flow of $9.9 million for 2008 compared to $7.8 million for 2007.

"I am pleased to report record quarterly OTC revenues, net income, free cash flow and adjusted EBITDA, as we delivered a profitable fourth quarter and achieved positive free cash flow for the year for the first time in Company history," said Dawn Lepore, chief executive officer and chairman of the board of drugstore.com, inc. "Importantly, while holiday sales were clearly impacted by the economy, we saw strong sales of our everyday OTC basics, reinforcing our belief that a large portion of our products are not considered discretionary by our customers. Overall, we continued to drive solid OTC and vision growth of 6.0% and 14.5%, respectively, significantly ahead of eCommerce trends. During the course of 2008, we strengthened our operational efficiencies, increased margins, and more than doubled our full year adjusted EBITDA over last year. These improvements allowed us to be more promotional in the fourth quarter, while maintaining a strong operating model."

"Looking ahead, our fourth quarter results give us confidence that we can and will continue to grow our OTC and vision revenues amidst a more challenging economic environment. January started off strong, with continued demand for everyday OTC basics, increased FSA sales, and customers' capitalizing on our loyalty program -- drugstore.com dollars(TM). Importantly, we also have a number of key initiatives -- such as ramping our strategic partnerships with Medco and Rite Aid, adding new prestige beauty brands, and expanding international sales -- that leverage our existing infrastructure and which should help fuel growth in 2009," concluded Ms. Lepore.

Net income for the fourth quarter of 2008 was $289,000, or $0.00 per share, compared to a net loss of $2.3 million, or $0.02 per share, for the fourth quarter of 2007. The fourth quarter 2008 income includes $1.8 million in non-cash stock-based compensation expense, compared to $1.7 million for the fourth quarter 2007. Net loss for the fiscal year of 2008 was $8.3 million or $0.09 per share, compared to a net loss of $11.5 million, or $0.12 per share, for the fiscal year of 2007. The 2008 fiscal year losses include $3.4 million in non-cash marketing expense (including $1.1 million accelerated in connection with our restructured Rite Aid agreement), $3.2 million related to consulting services, and $7.6 million in non-cash stock-based compensation expense, compared to $2.3 million in non-cash marketing expense, $1.1 million related to consulting services, and $8.8 million in non-cash stock-based compensation expense for the fiscal year of 2007.

Outlook for First Quarter 2009

For the first quarter of 2009, the company is targeting net sales in the range of $93.0 million to $97.0 million, net income in the range of $0.0 to a net loss of $2.0 million, and adjusted EBITDA in the range of $3.0 million to $5.0 million.

Financial and Operational Highlights for the Fourth Quarter of 2008

(All comparisons are made to the fourth quarter of 2007 and reflect the reporting of the local pick-up business as discontinued operations)

    Key Financial Highlights:

    -- Cash, cash equivalents, and marketable securities were $38.2 million at
       year end, as the Company generated $5.4 million in free cash flow and
       $3.6 million from operations during the quarter.
    -- Gross margins increased 50 basis points to 28.5%.
    -- Total contribution margin dollars increased by over 11% to $19.5
       million.
    -- Total orders grew by 6% to approximately 1.4 million, while
       contribution margin dollars per order grew by 7% to approximately $14.


    Net Sales Summary:

    -- Core OTC [1] revenues grew by 6% to $69.4 million for the quarter. OTC
       net sales grew by 6% to $69.8 million for the quarter, and 11% to
       $260.8 million for the year, including Beauty.com growth of 9% for the
       quarter and 28% for the year.
    -- Vision net sales grew approximately 14.5% to $14.6 million for the
       quarter, and 12% to $61.4 for the year.
    -- Mail-order pharmacy net sales decreased 25% to $9.6 million for the
       quarter and 11.5% to $44.4 million for the year, while contribution
       margins dollars increased approximately 8% for the quarter and 12% for
       the year.
    -- Average net sales per order were $67.  Average net sales per order were
       $58 for OTC, grew approximately 11% to $112 for vision, and decreased
       to $156 for mail-order pharmacy.
    -- Net sales from repeat customers [2] represented 76% of net sales.


    Key Customer Milestones:

    -- We served approximately 406,000 new customers during the quarter, up 8%
       over the same period in the prior year.
    -- We have now served over 9.8 million customers since inception.
    -- The number of active customers [3] was 2.6 million, up 9% year over
       year.

Conference Call

Investors, analysts, and other interested parties are invited to join the drugstore.com, inc. quarterly conference call on February 4, 2009 at 5:00 p.m. ET (2:00 p.m. PT). To participate, callers should dial 800-257-1927 (international callers should dial 303-262-2193) five minutes beforehand. Investors may also listen to the conference call live at http://investor.drugstore.com/, by clicking on the "audio" hyperlink. A replay of the call will be available through Friday, February 6, 2009 by dialing 800-405-2236 (enter pass code 11125654#) or internationally at 303- 590-3000 (enter pass code 11125654#) beginning two hours after completion of the call.

Non-GAAP Measures

To supplement the consolidated financial statements presented in accordance with GAAP, drugstore.com, inc. uses the non-GAAP measure of adjusted EBITDA, defined as earnings before interest, taxes, depreciation, and amortization of intangible assets and non-cash marketing expenses, adjusted to exclude the impact of stock-based compensation expense. This non-GAAP measure is provided to enhance the user's overall understanding of the company's current financial performance. Management believes that adjusted EBITDA, as defined, provides useful information to the company and to investors by excluding certain items that may not be indicative of the company's core operating results. In addition, because drugstore.com, inc. has historically provided adjusted EBITDA measures to investors, management believes that including adjusted EBITDA measures provides consistency in the company's financial reporting. However, adjusted EBITDA should not be considered in isolation, or as a substitute for, or as superior to, net income/loss, cash flows, or other consolidated income/loss or cash flow data prepared in accordance with GAAP, or as a measure of the company's profitability or liquidity. Although adjusted EBITDA is frequently used as a measure of operating performance, it is not necessarily comparable to other similarly titled captions of other companies due to differences in methods of calculation. Net income/loss is the closest financial measure prepared by the company in accordance with GAAP in terms of comparability to adjusted EBITDA. A reconciliation of adjusted EBITDA to net income/loss is included with the financial statements attached to this release.

In addition, the company uses the non-GAAP measure of free cash flow, defined as net cash provided by (used in) operating activities plus proceeds from the sale of discontinued operations less purchases of fixed assets as disclosed on our consolidated statements of cash flows. Management believes that free cash flow is an important liquidity metric because it measures, during a given period, the amount of cash generated that is available to service debt obligations, make investments, fund acquisitions and for certain other activities. Free cash flow is not a measure determined in accordance with GAAP and may not be defined or calculated by other companies in the same manner. Additionally, this financial measure is subject to variability quarter over quarter as a result of the timing of payments related to accounts payable, including inventory purchases, and accounts receivable. Since free cash flow includes investments in operating assets, management believes this non-GAAP liquidity metric is useful in addition to the most directly comparable GAAP measure of net cash provided by (used in) operating activities, and should not be used as a substitute for it or any other measure determined in accordance with GAAP. A reconciliation of free cash flow to net cash provided by operating activities is included with the supplemental financial schedules attached to this release.

drugstore.com, inc. also uses non-GAAP measures in which CNS sales are excluded from OTC segment sales data. This non-GAAP measure is provided to enhance the user's overall understanding of the company's financial performance in the OTC segment. Management believes that these reporting metrics provide useful information to the company and to investors by excluding certain items that may not be indicative of the company's core operating results in the OTC segment. By excluding CNS sales from OTC sales data, the company can more effectively assess the buying behavior of, and the company's financial performance with respect to, its own core OTC customers (those customers making nonprescription purchases through Web sites owned by drugstore.com, inc. and its subsidiaries). However, these non-GAAP measures should not be considered in isolation, or as a substitute for, or as superior to, OTC segment sales data prepared in accordance with GAAP, or as a measure of the company's overall performance in the OTC segment. OTC segment sales measures are the closest financial measures prepared by the company in accordance with GAAP in terms of comparability to OTC segment sales measures that exclude CNS sales.

About drugstore.com, inc.

drugstore.com, inc. (NASDAQ: DSCM) is a leading online provider of health, beauty, vision, and pharmacy products. Our portfolio of brands includes: drugstore.com(TM), Beauty.com(TM), and VisionDirect.com(TM). All are accessible from http://www.drugstore.com and provide a convenient, private, and informative shopping experience while offering a wide assortment of more than 40,000 products at competitive prices.

The drugstore.com pharmacy is certified by the National Association of Boards of Pharmacy (NABP) as a Verified Internet Pharmacy Practice Site (VIPPS) and operates in compliance with federal and state laws and regulations in the United States.

The financial results contained in this press release are preliminary and unaudited. In addition, this press release contains forward-looking statements regarding future events or the future financial and operational performance of drugstore.com, inc. Words such as "target," "believe," "may," "will," "continue," "should," and similar expressions, are intended to identify forward-looking statements. Forward-looking statements are based on current expectations, are not guarantees of future performance and involve assumptions, risks, and uncertainties. Actual performance may differ materially from those contained or implied in such forward-looking statements. Risks and uncertainties that could lead to such differences could include, among other things: effects of changes in the economy, changes in consumer spending, fluctuations in the stock market, changes affecting the Internet, online retailing and advertising, difficulties establishing our brand, and building a critical mass of customers, the unpredictability of future revenues and expenses and potential fluctuations in revenues and operating results, risks related to business combinations and strategic alliances, possible tax liabilities relating to the collection of sales tax, consumer trends, the level of competition, seasonality, the timing and success of expansion efforts, changes in senior management, risks related to systems interruptions, possible governmental regulation, and the ability to manage a growing business. Additional information regarding factors that potentially could affect the business, financial condition, and operating results of drugstore.com, inc. is included in the company's periodic filings with the SEC on Forms 10-K, 10-Q, and 8-K. drugstore.com, inc. expressly disclaims any intent or obligation to update any forward-looking statement, except as otherwise specifically stated by it.

    1.  Core OTC net sales is a non-GAAP financial measure that excludes from
        OTC net sales the company's Custom Nutrition Services ("CNS") net
        sales. CNS sales are generated by sales of customized vitamins through
        the company's CNS subsidiary. A reconciliation of OTC net sales to
        core OTC net sales is included in the financial data accompanying this
        press release.
    2.  Net sales from repeat customers exclude Weil-related CNS net sales and
        reflect only the activity of customers making purchases through the
        Web sites of drugstore.com, inc. and its subsidiaries.
    3.  Active customer base reflects those customers who have purchased at
        least once within the last 12 months. Both the active customer base (a
        trailing 12-month number) and average annual spend per active customer
        exclude net sales and orders generated by the company's CNS
        fulfillment relationship with Weil, and reflect only the activity of
        customers making purchases through the Web sites of drugstore.com,
        inc. and its subsidiaries.

     Contact:
     Investor Relations:
     Brinlea Johnson
     212-551-1453
     brinlea@blueshirtgroup.com



                             drugstore.com, inc.
                    Consolidated Statements of Operations
               (in thousands, except share and per share data)
                                 (unaudited)

                           Three Months Ended        Twelve Months Ended
                        December 28,  December 30, December 28, December 30,
                            2008         2007         2008         2007

    Net sales              $93,940      $91,307     $366,579     $339,331

    Costs and expenses:
     (1) (2)
      Cost of sales         67,127       65,764      263,697      248,308
      Fulfillment and
       order processing     10,463       10,889       43,377       39,817
      Marketing and sales    9,100        8,369       33,591       30,080
      Technology and
       content               6,063        4,388       23,011       18,258
      General and
       administrative        3,878        6,295       19,034       20,928
      Amortization of
       intangible assets       206          244          867        1,234
        Total costs and
         expenses           96,837       95,949      383,577      358,625

    Operating loss          (2,897)      (4,642)     (16,998)     (19,294)

    Interest income, net       115          410          631        1,675

    Loss from continuing
     operations             (2,782)      (4,232)     (16,367)     (17,619)
    Income from discontinued
     operations              3,071        1,888        8,080        6,108

    Net income (loss)         $289      $(2,344)     $(8,287)    $(11,511)

    Basic and diluted
     net income (loss)
     per share               $0.00       $(0.02)      $(0.09)      $(0.12)

    Weighted average shares
     used in computation of:
      Basic net income
       (loss) per
       share            96,540,101   96,229,531   96,481,787   95,350,046
      Diluted net income
       (loss) per
        share           96,643,524   96,229,531   96,481,787   95,350,046

    (1)  Set forth below are the amounts of stock-based compensation by
         operating function recorded in the Statements of Operations:

         Fulfillment and
          order processing    $136         $138          $576        $784
         Marketing and sales   471          303         1,619       1,381
         Technology and
          content              335          289         1,265       1,224
         General and
          administrative       844          957         4,104       5,412
                            $1,786       $1,687        $7,564      $8,801

    (2)  Set forth below are the amounts of depreciation by operating function
         recorded in the Statements of Operations:

         Fulfillment and
          order processing    $740         $466        $2,653      $1,826
         Marketing and sales     1            -             4           3
         Technology and
          content            2,162        1,185         7,780       5,252
         General and
          administrative       114          110           475         423
                            $3,017       $1,761       $10,912      $7,504



    SUPPLEMENTAL INFORMATION: Gross Profit and Gross Margin Information:

                               Three Months Ended      Twelve Months Ended
    (In thousands, unless  December 28, December 30, December 28, December 30,
     otherwise indicated)    2008          2007         2008         2007

    Net sales               $93,940      $91,307     $366,579     $339,331
    Cost of sales            67,127       65,764      263,697      248,308
    Gross profit            $26,813      $25,543     $102,882      $91,023

    Gross margin               28.5%        28.0%        28.1%        26.8%



    SUPPLEMENTAL INFORMATION: Reconciliation of OTC net sales, cost of sales,
     gross profit, gross margin, variable order costs, and contribution margin
     to Core OTC net sales, cost of sales, gross profit, gross margin,
     variable order costs and contribution margin (See Note 3 below):

                             Three Months Ended       Twelve Months Ended
                         December 28, December 30, December 28, December 30,
                            2008          2007        2008         2007
                                           (In thousands)
    Over-the-Counter (OTC):
    Net sales              $69,809      $65,870     $260,794     $234,282
    CNS                        409          450        1,774        1,881
        Core OTC net
         sales             $69,400      $65,420     $259,020     $232,401

    Cost of sales          $48,282      $45,378     $180,252     $164,469
    CNS                         20           36          132          234
        Core OTC cost
         of sales          $48,262      $45,342     $180,120     $164,235

    Gross profit            21,527       20,492       80,542       69,813
    CNS                        389          414        1,642        1,647
        Core OTC gross
         profit            $21,138      $20,078      $78,900      $68,166

    Gross margin              30.8%        31.1%        30.9%        29.8%
    CNS                       95.1%        92.0%        92.6%        87.6%
        Core OTC gross
         margin               30.5%        30.7%        30.5%        29.3%

    Variable order costs    $5,988       $6,479      $23,499      $22,259
    CNS                        149          144          573          607
        Core OTC variable
         order costs        $5,839       $6,335      $22,926      $21,652

    Contribution margin     15,539       14,013       57,043       47,554
    CNS                        240          270        1,069        1,040
        Core OTC
         contribution
         margin            $15,299      $13,743      $55,974      $46,514

    NOTE 3:  Supplemental information related to the company's Core OTC net
             sales, cost of sales, gross profit, gross margin, variable order
             costs and contribution margin for the three and twelve months
             ended December 28, 2008 and December 30, 2007 is presented for
             informational purposes only and is not prepared in accordance
             with generally accepted accounting principles



    SUPPLEMENTAL INFORMATION: Segment Information:

      (In thousands,
       unless               Three Months Ended        Twelve Months Ended
       otherwise         December 28, December 30, December 28, December 30,
       indicated)            2008         2007         2008         2007

    Net sales:
    OTC                    $69,809      $65,870     $260,794     $234,282
    Vision                  14,555       12,708       61,420       54,906
    Mail-order pharmacy      9,576       12,729       44,365       50,143
                           $93,940      $91,307     $366,579     $339,331

    Cost of sales:
    OTC                    $48,282      $45,378     $180,252     $164,469
    Vision                  11,125        9,649       47,279       41,904
    Mail-order pharmacy      7,720       10,737       36,166       41,935
                           $67,127      $65,764     $263,697     $248,308

    Gross profit:
    OTC                     21,527       20,492       80,542       69,813
    Vision                   3,430        3,059       14,141       13,002
    Mail-order pharmacy      1,856        1,992        8,199        8,208
                           $26,813      $25,543     $102,882      $91,023

    Gross margin:
    OTC                       30.8%        31.1%        30.9%        29.8%
    Vision                    23.6%        24.1%        23.0%        23.7%
    Mail-order pharmacy       19.4%        15.6%        18.5%        16.4%
                              28.5%        28.0%        28.1%        26.8%

    Variable order costs:
    OTC                     $5,988       $6,479      $23,499      $22,259
    Vision                     664          672        2,899        2,708
    Mail-order pharmacy        710          932        3,447        3,967
                             7,362        8,083       29,845       28,934

    Contribution margin:
    OTC                    $15,539      $14,013      $57,043      $47,554
    Vision                   2,766        2,387       11,242       10,294
    Mail-order pharmacy      1,146        1,060        4,752        4,241
                           $19,451      $17,460      $73,037      $62,089



    SUPPLEMENTAL INFORMATION: Reconciliation of Net Income (Loss) to Adjusted
    EBITDA (See Note 4 below):

    (In thousands,           Three Months Ended        Twelve Months Ended
     unless otherwise     December 28, December 30, December 28, December 30,
     indicated)               2008       2007         2008         2007

    Net income (loss)         $289     $(2,344)     $(8,287)    $(11,511)
    Amortization of
     intangible assets         206         244          867        1,234
    Amortization of
     non-cash marketing          -         573        3,435        2,290
    Stock-based compensation 1,786       1,687        7,564        8,801
    Depreciation             3,017       1,761       10,912        7,504
    Interest income, net      (115)       (410)        (631)      (1,675)
        Adjusted EBITDA     $5,183      $1,511      $13,860      $ 6,643

    NOTE 4:  Supplemental information related to the company's adjusted EBITDA
             for the three and twelve months ended December 28, 2008 and
             December 30, 2007 is presented for informational purposes only
             and is not prepared in accordance with generally accepted
             accounting principles. Adjusted EBITDA is defined as earnings
             before taxes, depreciation, and amortization of intangible assets
             and non-cash marketing expense, adjusted to exclude the impact of
             stock-based compensation expense.



    SUPPLEMENTAL INFORMATION: Reconciliation of Forecasted Q1 2009 Net Income
    (Loss) Range to Forecasted
    Q1 2009 Adjusted EBITDA Range

    Range Calculated As:                               Three Months Ended
                                                         March 29, 2009
    (In thousands, unless otherwise indicated)       Range High   Range Low

    Net income (loss)                                     $-       $(2,000)
    Amortization of intangible assets                    200           200
    Stock-based compensation                           1,650         1,650
    Depreciation                                       3,275         3,275
    Interest income, net                                (125)         (125)
    Adjusted EBITDA                                   $5,000        $3,000



    SUPPLEMENTAL INFORMATION: Reconciliation of Net Cash Provided by Operating
    Activities to Free Cash Flow:


    (In thousands,            Three Months Ended        Twelve Months Ended
    unless                 December 28, December 30, December 28, December 30,
    otherwise indicated)       2008        2007         2008         2007

    Net cash provided by
     operating activities    $3,606        $746        $9,913        $7,778
    Add: Proceeds from sale
     of discontinued
     operations               3,964           -         3,964             -
    Less: Purchases of
     fixed assets            (2,134)     (3,466)      (13,197)      (14,249)
    Free Cash Flow           $5,436     $(2,720)         $680       $(6,471)



                             drugstore.com, inc.
                         Consolidated Balance Sheets
                      (in thousands, except share data)

                                                  December 28,    December 30,
                                                      2008           2007
                                                   (unaudited)     (audited)
    ASSETS
    Current assets:
      Cash and cash equivalents                      $25,197        $18,572
      Marketable securities                           12,997         17,677
      Accounts receivable, net of allowances           9,108         10,999
      Inventories                                     32,704         31,237
      Other current assets                             2,128          3,642
      Assets of discontinued operations                5,954         30,763
        Total current assets                          88,088        112,890

    Fixed assets, net                                 28,306         25,501
    Other intangible assets, net                       3,731          4,598
    Goodwill                                          32,202         32,202
    Prepaid marketing expenses and other                 222            217
        Total assets                                $152,549       $175,408

    LIABILITIES AND STOCKHOLDERS' EQUITY
    Current liabilities:
      Accounts payable                              $ 31,208        $36,446
      Accrued compensation                             4,416          4,657
      Accrued marketing expenses                       4,630          3,988
      Other current liabilities                        4,560          4,312
      Current portion of long-term debt                2,998          3,179
      Liabilities of discontinued operations           5,946         24,968
        Total current liabilities                     53,758         77,550

    Long-term debt, less current portion               2,567          1,221
    Deferred income taxes                                953            947
    Other long-term liabilities                        1,071          1,322

    Stockholders' equity:
      Common stock, $.0001 par value,
       stated at amounts paid in:
        Authorized shares - 250,000,000
        Issued and outstanding shares -
         99,474,079 and 96,296,687
         as of December 28, 2008 and
         December 30, 2007, respectively             864,282        856,193
      Accumulated other comprehensive income              57             27
      Accumulated deficit                           (770,139)      (761,852)
        Total stockholders' equity                    94,200         94,368
        Total liabilities and stockholders' equity  $152,549       $175,408



                             drugstore.com, inc.
                    Consolidated Statements of Cash Flows
                                (in thousands)

                              Three Months Ended      Twelve Months Ended
                           December 28, December 30, December 28, December 30,
                                2008       2007         2008         2007
                                              (unaudited)
    Operating activities:
      Net income (loss)         $289     $(2,344)     $(8,287)    $(11,511)
      Adjustments to
       reconcile net income
       (loss) to net cash
       provided by
       operating activities:
        Depreciation           3,017       1,761       10,912        7,504
        Amortization of
         intangible assets       206         244          867        1,234
        Stock-based
         compensation          1,786       1,687        7,564        8,801
        Other, net               (16)          2          (59)          14
        Changes in:
          Accounts receivable  1,902      (2,092)       1,891         (337)
          Inventories         (1,965)     (9,150)      (1,467)      (5,155)
          Prepaid marketing
           expenses and other  1,055          62        1,514         (929)
          Accounts payable,
           accrued expenses
           and other
           liabilities        (1,931)     10,297       (4,845)       6,359
          Net cash provided
           by (used in)
           activities of
           discontinued
           operations           (737)        279        1,823        1,798
        Net cash provided by
         operating activities  3,606         746        9,913        7,778

     Investing activities:
       Purchases of marketable
        securities            (3,810)    (11,004)     (46,926)     (27,544)
       Sales and maturities
        of marketable
        securities             2,001      21,316       51,705       37,141
       Proceeds from sale
        of discontinued
        operations             3,964           -        3,964            -
       Purchases of fixed
        assets                (2,134)     (3,466)     (13,197)     (14,249)
       Purchases of
        intangible assets          -           -            -         (456)
        Net cash provided by
         (used in) investing
         activities               21       6,846       (4,454)      (5,108)

     Financing activities:
       Proceeds from exercise
        of stock options
        and employee
        stock purchase plan        -         985          525        4,366
       Proceeds from line
        of credit                  -       3,700        5,000        4,000
       Principal payments on
        line of credit, capital
        lease and term loan
        obligations             (802)     (3,667)      (4,359)      (5,857)
        Net cash (used in)
         provided by financing
         activities             (802)      1,018        1,166        2,509

          Net increase in cash
           and cash
           equivalents         2,825       8,610        6,625        5,179
          Cash and cash
           equivalents,
           beginning of
           period             22,372       9,962       18,572       13,393
          Cash and cash
           equivalents, end of
           period            $25,197     $18,572      $25,197      $18,572

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SOURCE drugstore.com, inc.
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1. drugstore.com and Revolution Health Group Announce Breakthrough Deal
2. drugstore.com, inc. to Announce Third Quarter 2007 Results During Conference Call on Monday, October 22, 2007 at 5:00 p.m. ET
3. drugstore.com inc. Reports Record Gross Margins and Bottom Line Results for the Third Quarter of 2007
4. drugstore.com inc. Achieves GAAP Profitability in the Fourth Quarter of 2007
5. drugstore.com, inc. to Present at the Upcoming Jefferies 4th Annual Internet Conference and the Morgan Stanley Technology Conference
6. drugstore.com, inc. to Announce First Quarter 2008 Results During Conference Call on Monday, May 5, 2008 at 5:00 p.m. ET
7. drugstore.com inc. Reports Results for the First Quarter of 2008
8. drugstore.com, inc. to Present at Upcoming Investor Conferences
9. drugstore.com inc. Reports Solid Revenue Growth and Record Gross Margins in the Third Quarter of 2008
10. drugstore.com Offers Free Shipping to U.S. Troops Serving Overseas and in the United States
11. drugstore.com Announces Strategic Alliance With Medco Health Solutions
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