HealthWarehouse.com Reports 38% Year-Over-Year Revenue Growth in the First Quarter 2012
Gross Margins Reach Almost 46%
CINCINNATI, Sept. 5, 2012 /PRNewswire/ -- HealthWarehouse.com, Inc. (OTC: HEWA) a leading VIPPS accredited retail mail-order pharmacy, today announced its financial results for the first quarter ended March 31, 2012.
In the first quarter of 2012, the Company's quarterly net sales increased to $3,153,607 from $2,284,552, up 38% compared to the same period in 2011.
Selling, general and administrative expenses (SG&A) increased by $730,780 in the first quarter of 2012 compared to the same period in 2011. Net loss in the first quarter of 2012 increased to $1,550,312, as compared with a net loss of $1,071,279 for the same period in 2011. The increase in SG&A expenses and net loss was due primarily to the expansion of resources to handle growth of the Company's prescription sales.
"We are pleased with the growth we continue to see with our business," said Lalit Dhadphale , President and CEO of HealthWarehouse.com. "We remain focused on execution and are excited by the solid sales we've witnessed from the recent generic launches of Plavix® and Lipitor®. We expect this momentum to continue with the recent releases of generic Actos® and Singulair®. Additionally, we intend to take increasing market share over the next few quarters by expanding our sales channels and exceeding customer expectations."
About HealthWarehouse.com, Inc.
HealthWarehouse.com, Inc. (OTC: HEWA) is a trusted VIPPS-accredited retail mail-order pharmacy based in the Cincinnati area. HealthWarehouse.com offers more than 300 prescription drugs for $3.50 with 100% FREE shipping and is a three-time consecutive winner of the BizRate Circle of Excellence Award for outstanding customer satisfaction and service. With a mission to provide affordable healthcare to every American by eliminating inefficiencies in the drug distribution chain, HealthWarehouse.com has become the leading online pharmacy in the United States. HealthWarehouse.com is licensed in all 50 states and DC, and only sells drugs which are FDA-approved and legal for sale in the United States. Visit HealthWarehouse.com online at http://www.HealthWarehouse.com.
Actos® is a registered trademark of Takeda Pharmaceutical Company Limited.
Lipitor® is a registered trademark of Pfizer Corporation.
Plavix® is a registered trademark of Sanofi-Aventis.
Singulair® is a registered trademark of Merck & Co., Inc.
SOURCE HealthWarehouse.com, Inc.
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