FRISCO, Texas, Jan. 25 /PRNewswire-FirstCall/ -- Assured Pharmacy, Inc. (Pink Sheets: APHY), announced today that same store sales increased 12.3% for the fiscal year 2009 compared to 2008. Its four operating pharmacies generated over $15.5 million in revenues compared to revenues of $16.3 million for its six operating pharmacies in 2008.
"We are very pleased with same store sales growth especially in such tough economic times," Assured Pharmacy CEO Robert DelVecchio said. "The performance further validates our belief that we are providing a valuable service to our customers."
The company also announced its immediate plans for financial reporting and disclosure. The company intends to meet the necessary filing requirements to upgrade to the Pink Sheets Limited Information market tier in the next few weeks. In addition, the company is actively working on meeting the additional requirements to upgrade to the Pink Sheets Current Information market tier by March 31, 2010.
About Assured Pharmacy, Inc.
Assured Pharmacy, Inc. is engaged in the business of operating specialty pharmacies that primarily dispense highly regulated pain medication. The Company derives its revenue primarily from the sale of prescription drugs and does not keep in inventory non-prescription drugs or health and beauty related products inventoried at traditional pharmacies. The Company offers physicians the ability to electronically transmit prescriptions to its pharmacies. The majority of the Company's business is derived from repeat business from its customers. "Walk-in" prescriptions from physicians are limited. The Company currently has four operating pharmacies. Three of those pharmacies are wholly owned and the Company has a 94.8% ownership interest in the other pharmacy.
Safe Harbor Statement
This document and other written or oral statements made from time to time may contain forward-looking statement s covered by the Private Securities Litigation Reform Act of 1995. Statements that are not historical in nature and which may be identified by the use of words like "expects," "assumes," "projects," "anticipates," "estimates," "we believe," "target," "could be," and other words of similar meaning, are forward-looking statements. These statements are based on managements' expectations and assumptions and are subject to risks and uncertainties that may cause actual results by the forward-looking statements include: lack of sufficient financing for opening new pharmacies, government regulation and controls, and inability to manage growth. Additional information concerning factors that could cause actual results to differ materially from those projected is contained in the Company's filing with the Securities and Exchange Commission. The Company undertakes no obligation to revise or update forward-looking statements as a result of new information since these statements may no longer be accurate or timely.
SOURCE Assured Pharmacy, Inc.