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Assured Pharmacy Reports Results for the Fiscal Year 2011
Date:4/4/2012

FRISCO, Texas, April 4, 2012 /PRNewswire/ -- Assured Pharmacy (APHY: pinksheets), a leading specialty pharmacy group providing prescription medications to sufferers of chronic pain, announced net sales of $16,444,573 for the year ended December 31, 2011, an increase of $167,821 or 1.0%, from $16,276,752 for the year ended December 31, 2010.  Basic and diluted net loss per share was $1.14 for the year 2011, a 54.0% improvement compared to $2.48 net loss per share in the same period in 2010.

The increase in sales for the year 2011 compared to the year 2010 was primarily due to an increase in the number of patients serviced as a result of our continued direct sales efforts and to a much lesser extent the opening of our 5th pharmacy in the Kansas City metropolitan area in November 2011.  The increase in revenue from increased patients was partially offset by a decrease in revenue per prescription due to increased generic utilization by our patients and to a lesser extent a decrease in management service fee revenue of $160,005.  As a result of the increase in generic utilization, our gross profit margins on pharmacy revenue increased to 19.1% for the year 2011 up from 17.6% for the year 2010. The number of prescriptions filled by our pharmacies increased by 6,300 prescriptions or 5.7%, with 117,410 prescriptions filled in the year ended December 31, 2011, as compared to 111,110 prescriptions filled in the year 2010.We are pleased with the year over year performance improvement in our operations for the year 2011 and the opening our new pharmacy in Kansas.  The opening of our new pharmacy and improved operating results reflect continued progress in the implementation of our strategies and provide further validation of our business model as we move forward with the expansion of our business," said Robert DelVecchio, Chief Executive Officer of Assured Pharmacy. 

The audited financial statements for the years ended December 31, 201
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SOURCE Assured Pharmacy, Inc.
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