IRVINE, Calif., Aug. 13 /-/ -- Assured Pharmacy (OTC Bulletin Board: APHY) today announced financial results for the Company's second quarter ended June 30, 2007. Revenues for the second quarter of 2007 increased 21% to $3.3 million, as compared with $2.7 million for the first quarter of 2007. Net loss for the three months ended June 30, 2007 was $733,426, a 45% decrease from the net loss of $1,338,007 for the three months ended June 30, 2006. Assured Pharmacy provides customized services for patients with, and physicians treating, chronic pain, including specialized expertise in dispensing pain medication, including Class II substances, streamlined prescription processes, digital prescribing technologies, and specialty drug compounding services.
"Our quarterly revenue growth has once again exceeded 20%. With the enormous size and growth forecasted for the pain medication market, we believe we should continue to generate significant growth in our revenues, in line with the 100% per year growth rate we've achieved each of the past two years, well into the future. We've recently signed leases in California and Nevada, and we have our sights set on a number of other future locations," stated Mr. Robert DelVecchio, CEO of Assured Pharmacy. "While we continue to grow our revenues, we are narrowing our losses, and expect to be profitable by the end of 2007. Achieving profitability, while growing our business so rapidly, is a testament to the strength of our business model and the dedication of our employees," Mr. DelVecchio concluded.
For additional information regarding the second quarter results, the Company's quarterly report is available on the SEC's website at http://www.sec.gov.
About Assured Pharmacy
Assured Pharmacy provides customized services for patients with and physicians treating chronic pain, including specialized expertise in dispensing pain medication, including Class II substances, streamlined prescription processes, digital prescribing technologies, and specialty drug compounding services. APHY also offers a complete line of durable medical equipment through its DME division. APHY currently operates retail sites in Portland, Oregon (three), Santa Ana and Riverside, California, and Kirkland, Washington. More information about APHY is available at http://www.assuredpharmacy.com.
Contact:
Andrew Brown
ROI Group LLC
212-495-0202
abrown@roiny.com
Certain statements in this news release may constitute "forward-looking" statements within the meaning of section 21E of the Securities and Exchange Act of 1934. The Company believes that its expectations, as expressed in these statements are based on reasonable assumptions regarding the risks and uncertainties inherent in achieving those expectations. These statements are not, however, guarantees of future performance and actual results may differ materially. Some of the factors that may affect the forward looking statements in this news release are the availability of licensed personnel to operate pharmacies, the availability of suitable pharmacy locations, and the acceptance of new technologies by the medical profession. Other risk factors are listed in the most recent Annual Report on Form 10-KSB, Quarterly Report on Form 10-QSB, and most recent Registration Statement on Form SB-2 filed with the Securities and Exchange Commission. Such forward-looking statements involve risks, uncertainties, which may cause the actual results, performance, or achievement expressed or implied to differ.
