Go2Pharmacy Reports Profitable QuarterGo2Pharmacy Reports Profitable Quarter
August 26, 2002
Go2Pharmacy Reports Profitable Quarter
KEY LARGO, Fla.--Go2Pharmacy Inc. (NASDAQ:GORX) posted recordrevenues for its first quarter (1Q02), ended June 30 and reported July 24. Forthe company's 1Q02, sales rose to $4.4 million from $1.8 million posted in 1Q01.Gross margin grew to 28.6 percent of sales from 20.1 percent, although operatingexpenses also increased slightly to $839,000. Net profit posted at $376,000, or$.05 per share earned, a noticeable improvement over 1Q01's net loss of$403,000, or $.06 per share lost.
"We are very optimistic about our continued improvements in ourcompany's financial performance," said Carol Dore-Falcone, vice presidentand chief financial officer. "Our focus continues to be on increasing salesrevenues, reducing costs and enhancing our market share through the launching ofnew products for ourselves and our customers."
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