Navigation Links
HealthWarehouse.com Reports 278% Year-Over-Year Prescription Growth
Date:4/18/2011

CINCINNATI, April 18, 2011 /PRNewswire/ -- HealthWarehouse.com, Inc. (OTC: HEWA) a leading VIPPS accredited retail mail-order pharmacy, today announced its financial results for the year ended December 31, 2010.

For the year ended December 31, 2010, the Company's net sales increased $1,908,223 to $5,691,765, up 50% compared to the same period in 2009. This was driven by growth in the Company's prescription business.  Prescriptions filled increased from 17,855 to 67,577, up 278% year-over-year.  Gross margins increased from 30.4% to 39.4% year-over-year due to prescription orders becoming a larger part of the product mix.

Selling, general and administrative expenses increased by $1,656,702 for the year ended December 31, 2010 compared to the same period in 2009.  Net loss for the year ended December 31, 2010 increased to $3,691,674, as compared with a net loss of $2,439,502 for the same period in 2009. The increase in SG&A expenses and net loss was due primarily to the expansion of personnel to handle growth in prescription sales as well as non-cash and one time charges.

"We are pleased by the progress we made with our financial and business fundamentals," said Lalit Dhadphale, President and CEO of HealthWarehouse.com. "The Company continues to drive its growth initiatives forward, which include expanding our sales channels, pursuing strategic acquisitions and providing award-winning customer service. As we continue to execute, the Company anticipates further quarter-over-quarter revenue growth in fiscal Q1."

Company Business Highlights:

  • The Company became the 19th pharmacy in the United States to be VIPPS accredited.
  • HealthWarehouse.com acquired 7 new state licenses to sell prescription drugs becoming licensed in all 50 states and the District of Columbia.
  • In April 2011, Consumer Reports found HealthWarehouse.com to have among the lowest total prices for four brand-name drugs: Lipitor, Nexium, Plavix, and Singulair.
  • The Company was awarded the 2010 Bizrate Circle of Excellence Award for outstanding customer service and satisfaction for the 2nd year in a row.
  • On February 15, 2011, the Company acquired the online assets of Hocks Pharmacy, an online reseller of over-the-counter medications, diabetic supplies, and medical equipment.
  • The Company announced partnerships with Columbia Medical Associates Health Care Access Now, Huntington Insurance and PrimaryCareOne.

Forward-Looking Statements

This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Actual results may differ significantly from management's expectations. These forward-looking statements involve risks and uncertainties that include, among others, risks related to competition, management of growth, new products, services and technologies, potential fluctuations in operating results, international expansion, outcomes of legal proceedings and claims, fulfillment center optimization, seasonality, commercial agreements, acquisitions and strategic transactions, foreign exchange rates, system interruption, inventory, government regulation and taxation, payments and fraud. More information about factors that potentially could affect HealthWarehouse.com's financial results is included in HealthWarehouse.com's filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and subsequent filings.

About HealthWarehouse.com, Inc.

HealthWarehouse.com, Inc. (OTC: HEWA) is a trusted VIPPS accredited retail mail-order pharmacy based in Cincinnati, Ohio. HealthWarehouse.com offers 300 prescription drugs for $3.50 with 100% FREE shipping and is a 2009 & 2010 winner of the BizRate Circle of Excellence Award for outstanding customer satisfaction and service. With a mission to provide affordable healthcare to every American by eliminating inefficiencies in the drug distribution chain, HealthWarehouse.com has become one of the fastest growing online pharmacies in the United States.

HealthWarehouse.com is licensed in 50 states and only sells drugs which are FDA-approved and legal for sale in the United States.  Visit HealthWarehouse.com online at http://www.HealthWarehouse.com.


'/>"/>
SOURCE HealthWarehouse.com, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Consumer Reports Finds HealthWarehouse.com Has Lowest Total Price for Lipitor, Nexium, Plavix, and Singulair
2. HealthWarehouse.com Launches Application of Google Commerce Search for Prescription Medications
3. HealthWarehouse.com to Present at Upcoming Conference
4. HealthWarehouse.com Acquires Online Division of Hocks Pharmacy
5. HealthWarehouse.com and Huntington Insurance Partner to Help Self-Insured Employers in the Midwest Save on Prescription Medications
6. HealthWarehouse.com Places $3.3 Million in Preferred Stock and $1 Million in Convertible Debt
7. HealthWarehouse.com Partners with Columbia Medical Associates to Bring Affordable Healthcare to Washington State
8. HealthWarehouse.com Reports 106% Revenue Growth in the Second Quarter 2010 Compared to 2009
9. HealthWarehouse.com Now Offers Over 1,000 Medications Under $25 Bringing Increased Affordability to Consumers
10. HealthWarehouse.com Receives VIPPS Accreditation From The National Association of Boards of Pharmacy
11. HealthWarehouse.com and PrimaryCareOne Form Partnership to Provide Low Cost Prescription Medications to Patients
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/11/2016)... , Feb. 11, 2016  Proliant Biologicals is ... Bovine Serum Albumin (BSA) manufacturing facility.  The facility is ... Zealand , in Feilding. Boone ... done to functionally duplicate the systems in the U.S. ... vendors used for U.S. installations.  --> ...
(Date:2/11/2016)... MEMPHIS, Tenn. , Feb. 11, 2016 ... a promising new treatment method at West Cancer ... low intensity electric fields to inhibit cancer cell replication ... therapy in more than a decade to show a ... adult Glioblastoma Multiforme (GBM) patients. Currently, West Cancer Center ...
(Date:2/11/2016)... 11, 2016 PLAD, Inc. (OTC Pink: PLAD) is ... sales exceeding company targets, are adding key personnel to ... from the United States Patent and Trademark Office for ... Executive Officer of PLAD, Inc.  In January, PLAD established ... with two new customers, Cumberland Goodwill EMS ...
Breaking Medicine Technology:
(Date:2/11/2016)... ... February 11, 2016 , ... Atlantic Information Services, ... Benefit Model: A Case Study for Plans and Purchasers.” Executives from Intel Corp. ... with Intel on value-based health benefits program Connected Care, will discuss the challenges ...
(Date:2/11/2016)... ... February 11, 2016 , ... "What holds you back from ... poses a question as a challenge for his readers to examine the full ... Being" (published by Partridge Singapore), Clarke explores the subject with more depth, revealing ...
(Date:2/11/2016)... ... February 11, 2016 , ... Greenfield ... charity program created to assist the people of their local community. The agency ... organizations and community leaders. Their hope is to bring awareness to important local ...
(Date:2/11/2016)... FRANCISCO (PRWEB) , ... February 11, 2016 , ... ... Houston-based multi-specialty practice Village Family Practice , will be presenting at the ... 2016, in Las Vegas, Nev. , During his session, “ Coding for ...
(Date:2/11/2016)... , ... February 11, 2016 , ... The annual list ... on evaluation of DataPoint’s team dedication and commitment to the SharePoint ecosystem. ... the annual list. The panel’s goal is to recognize and promote technology entrepreneurship. ...
Breaking Medicine News(10 mins):