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Go2Pharmacy Plans to Get Aggressive as Sales Increase, NetLoss Narrows
July 29, 2002
1 Min Read
Go2Pharmacy Plans to Get Aggressive as Sales Increase, NetLoss Narrows
LARGO, Fla.--Go2Pharmacy Inc. (NASDAQ:GORX) had revenues andearnings that vastly improved in its fiscal year (FY01), ended March 31 andreported May 13.
Revenues were up 62.1 percent to $9.0 million from $5.5 million logged inFY00. Gross margin dropped to 22.0 percent of sales from 33.5 percent, asoperating expenses grew to $3.2 million from $2.6 million. Net loss improved to$1.3 million, or $.19 per share lost, compared to FY01's loss of $24.4 million,or $4.49 per share lost.
"This quarter's revenues exceeded the company's revenues for the priortwo quarters combined," stated Carol Dore-Falcone, vice president and chieffinancial officer. "I believe we have now turned the corner and willcontinue to aggressively pursue additional profitable businessopportunities."
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