HealthWarehouse.com's Q2 sales, expenses rise
CINCINNATI Retail mail-order pharmacy HealthWarehouse.com reported Wednesday a 106% spike in its second-quarter sales.
Second-quarter net sales increased to $1.77 million, compared with $858,443 in the year-ago period, which HealthWarehouse.com said was driven by prescription and business-to-business customers.
Selling, general and administrative expenses increased by $428,861 for the three months ended June 30, compared with the same period in 2009. Net loss for the three months ended June 30 increased 64% to $649,329, as compared with a net loss of $396,271 for the same period in 2009. The increase in SG&A expenses and net loss primarily was caused by the expansion of resources to handle growth in prescription sales.
"Consumers are becoming increasingly savvy at managing their prescription drug costs as unemployment remains high and insurance benefits erode for those who are employed," said Lalit Dhadphale, president and CEO of HealthWarehouse.com. "We remain committed to providing consumers relief from high prescription drug costs at a time when they need it most."