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Friday, July 31, 2009 |
drugstore.com tops $100 million in quarterly sales for the first time
Online retailer drugstore.com Inc. generated record revenue and net income in the second quarter ended June 28.
- Sales increased 8.8% to $100.3 million from $92.2 million in the second quarter of last year.
- Net income was $1.0 million versus a loss of $2.3 million a year ago, marking drugstore.com’s third consecutive profitable quarter.
- Adjusted EBITDA was $5.5 million versus $3.0 million in the year-ago quarter. Adjusted EBITDA is earnings before interest, taxes, depreciation and amortization and excludes stock-based compensation.
“I am very pleased to report another strong quarter for drugstore.com,” says chairman and CEO Dawn Lepore. “Revenues, net income and adjusted EBITDA were all the highest in company history and we posted our third consecutive quarter of GAAP profitability and delivered $3.7 million in free cash flow. In a challenging consumer environment, we continue to outpace the industry, with OTC [over-the-counter] sales growth of 10% year over year, total beauty sales growth of 13% and vision growth of 11%.”
For the first six months of the year, drugstore.com reports:
- Revenue was up 7.5% to $198.7 million from $184.8 million in the first half of 2008.
- Net income was $1.9 million versus a loss of $5.0 million.
Drugstore.com, No. 48 in the Internet Retailer Top 500 Guide, is projecting for the third quarter net sales in the range of $94.0 to $96.0 million, a net loss in the range of $2.8 to $3.8 million and adjusted EBITDA in the range of $1.0 to $2.0 million.
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