Drugstore.com expects Q4 revenues to rise 28%
Drugstore.com, a pureplay online pharmacy, issued preliminary financial results today noting an expected 28% year-over-year increase in revenue, to $70 million from $54.7 million, for the quarter ended Dec. 28.
Drugstore added that it expects to end its 2003 fiscal year with more than $40 million in cash and cash equivalents, and that it expects to report Q4 profitability on an EBITDA basis. EBITDA is a non-GAAP financial measure defined as earnings before interest, taxes, depreciation and amortization of intangible assets, non-cash marketing expense and stock-related compensation.
President and CEO Kal Raman attributed the positive financial position to drugstore’s emphasis on convenience, selection, value and the trust it has established with its customers. "We are now well-positioned to capitalize on the incredible growth opportunities in the $273 billion health, beauty, wellness and pharmacy market," he said.
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