In its second-largest acquisition, Amazon buys the company for $970 million.
Second-quarter net sales at Drugstore.com increased 38% over second quarter of 2000, to $34 million; gross profit increased to 16.3% of sales.
Second-quarter net sales at Bellevue, WA-based Drugstore.com Inc. increased 38% over second quarter of 2000, to $34 million, the company reported today. Gross profit increased to 16.3% of sales, or $5.5 million. Average order size hit $62, nearly 1.5 times that of Q2 2000. Pro forma net loss for the quarter, excluding amortization of intangible assets, stock-based compensation and cumulative effect adjustment, decreased to $16.8 million, a year-over-year loss reduction of $25.5 million and a sequential loss reduction of $5 million, the company said. In addition, the company added 170,000 customers, bringing its customer base to over 2 million, and orders from repeat customers grew to 69% of the total orders in the quarter.
Net loss on a GAAP basis decreased year-over-year to $32.1 million in Q2, from a loss of $54.7 million in Q2 2000.