ScripsAmerica Announces $8.7 Million in First Quar
Post# of 7769
Posted On: 04/06/2015 8:56:23 AM
ScripsAmerica Announces $8.7 Million in First Quarter 2015 Approved Orders at its Specialty Pharmacy
ScripsAmerica Announces $8.7 Million in First Quarter 2015 Approved Orders at its Specialty Pharmacy
Growth at Main Avenue Pharmacy, PIMD International, and in the Diabetic Supply Program All Contribute to a Profitable First Quarter of 2015
TYSONS CORNER, Va., April 6, 2015 (GLOBE NEWSWIRE) -- ScripsAmerica, Inc. (OTCBB:SCRC), a leading provider of a range of specialty prescription and over the counter pharmaceuticals and medical supplies, today announced Approved Orders and Preliminary Revenues and Net Income for the first quarter of fiscal 2015. For the first quarter of fiscal 2015, based on strong growth at Main Avenue Pharmacy and PIMD International as well as in the Company's Diabetic Supply Program, ScripsAmerica is expected to generate net income of $400,000 on nearly $10 million of revenue, significant increases from revenue of $617,000 and a loss of $1.2 million for the same period in 2014. Growth at Main Avenue Pharmacy was driven by over $8.7 million of first quarter Approved Orders.
Bob Schneiderman, Chief Executive Officer and Founding Partner of ScripsAmerica, said, "Fiscal 2015 is off to a great start with outstanding growth in all of our businesses leading to over $400,000 of first quarter net income. The addition of the pharmacies currently under Letter of Intent should help accelerate growth in our specialty pharmacy business. Our Diabetic Supply Program is rapidly approaching 1,000 enrollees, a point where we believe it will start to make a meaningful contribution to our overall operations. And, as the business grows, our scale is beginning to benefit our cost of operations, which are decreasing as a proportion of total revenues. With a number of additional, exciting developments in progress, such as rolling out new products in our specialty pharmacy business and the introduction of a Physician Dispensing Program, we believe 2015 will be a tranformational year in which we build tremendous value for shareholders in ScripsAmerica."
About ScripsAmerica, Inc.
ScripsAmerica, Inc. is a supplier of prescription, OTC and nutraceutical drugs, delivering pharmaceutical products to a wide range of end users across the health care industry. End users include retail pharmacies, hospitals, long-term care facilities and government and home care agencies. For more information, visit www.ScripsAmerica.com.
CONTACT: Joe Hassett
Gregory FCA
610-228-2110
joeh@gregoryfca.com
(MORE TO FOLLOW) Dow Jones Newswires
April 06, 2015 08:30 ET (12:30 GMT)
ScripsAmerica Announces $8.7 Million in First Quarter 2015 Approved Orders at its Specialty Pharmacy
Growth at Main Avenue Pharmacy, PIMD International, and in the Diabetic Supply Program All Contribute to a Profitable First Quarter of 2015
TYSONS CORNER, Va., April 6, 2015 (GLOBE NEWSWIRE) -- ScripsAmerica, Inc. (OTCBB:SCRC), a leading provider of a range of specialty prescription and over the counter pharmaceuticals and medical supplies, today announced Approved Orders and Preliminary Revenues and Net Income for the first quarter of fiscal 2015. For the first quarter of fiscal 2015, based on strong growth at Main Avenue Pharmacy and PIMD International as well as in the Company's Diabetic Supply Program, ScripsAmerica is expected to generate net income of $400,000 on nearly $10 million of revenue, significant increases from revenue of $617,000 and a loss of $1.2 million for the same period in 2014. Growth at Main Avenue Pharmacy was driven by over $8.7 million of first quarter Approved Orders.
Bob Schneiderman, Chief Executive Officer and Founding Partner of ScripsAmerica, said, "Fiscal 2015 is off to a great start with outstanding growth in all of our businesses leading to over $400,000 of first quarter net income. The addition of the pharmacies currently under Letter of Intent should help accelerate growth in our specialty pharmacy business. Our Diabetic Supply Program is rapidly approaching 1,000 enrollees, a point where we believe it will start to make a meaningful contribution to our overall operations. And, as the business grows, our scale is beginning to benefit our cost of operations, which are decreasing as a proportion of total revenues. With a number of additional, exciting developments in progress, such as rolling out new products in our specialty pharmacy business and the introduction of a Physician Dispensing Program, we believe 2015 will be a tranformational year in which we build tremendous value for shareholders in ScripsAmerica."
About ScripsAmerica, Inc.
ScripsAmerica, Inc. is a supplier of prescription, OTC and nutraceutical drugs, delivering pharmaceutical products to a wide range of end users across the health care industry. End users include retail pharmacies, hospitals, long-term care facilities and government and home care agencies. For more information, visit www.ScripsAmerica.com.
CONTACT: Joe Hassett
Gregory FCA
610-228-2110
joeh@gregoryfca.com
(MORE TO FOLLOW) Dow Jones Newswires
April 06, 2015 08:30 ET (12:30 GMT)
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