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Wednesday, October 21, 2009 |
Drugstore.com reports higher Q3 revenue
Drugstore.com posted higher revenue in the third quarter and narrowed its net loss from the prior year.
For the quarter ended Sept. 27, Drugstore.com, No. 48 in the Internet Retailer Top 500 Guide, reported:
- A gain in net sales of 10.3% to $96.8 million from $87.8 million in the prior year.
- Net loss was $1.6 million compared to a net loss of $3.6 million for the third quarter of 2008.
- Adjusted EBITDA was $3.0 million versus $3.6 million in the year-ago quarter. Adjusted EBITDA is earnings before interest, taxes, depreciation and amortization and excludes stock-based compensation.
“Our growth was a result of continued strong sales of replenishment and beauty items to our loyal customer base and impressive new customer growth,” says Drugstore.com CEO Dawn Lepore. “This new customer growth was achieved while reducing our marketing cost per new customer to its lowest level since 2007.”
For the first three quarters of 2009, Drugstore.com reported:
- A gain in net sales of 8.4% to $295.5 million from $272.6 million in the prior year.
- Net income was $246,000 compared to a net loss of $8.6 million for the first three quarters of 2008.
- Adjusted EBITDA was $13.6 million versus $8.7 million in the previous year.
“Throughout 2009, we have been executing on plan in our core business and continuing to roll out new growth initiatives and partnerships that we believe can add incremental revenue growth, especially in 2010,” says Lepore. “We expect to add five to eight microsites by the end of 2010.”
For the fourth quarter, Drugstore.com is targeting net sales in the range of $107 million to $110 million, a net loss in the range of $1.8 million to $2.8 million, and adjusted EBITDA in the range of $2.5 million to $3.5 million, the company says.
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