Assured Pharmacy reports spike in Q1 net sales

FRISCO, Texas — Specialty pharmacy provider Assured Pharmacy said first-quarter net sales jumped to $4.4 million for the period ended March 31, an increase of 22.4% from the year-ago quarter.

The 22.4% increase in sales for the quarter primarily was attributed to an increase in the number of prescriptions dispensed during the period, Assured said.

Meanwhile, basic and diluted net loss per share was 12 cents for first quarter 2011 — thanks to the increased sales and reduced operating expenses, as a result of cost-control initiatives — a 78.9% improvement  compared with a net loss of 57 cents per share in the same period in 2010.

"We are pleased with our strong year-over-year performance for the first quarter. The improved results reflect continued progress in the implementation of our strategies and provide further validation of our business model as we move forward to the expansion phase of our business cycle," said Robert DelVecchio, Assured Pharmacy CEO.