IRVINE, Calif., Aug. 13 Assured Pharmacy(OTC Bulletin Board: APHY) today announced financial results for the Company'ssecond quarter ended June 30, 2007. Revenues for the second quarter of 2007increased 21% to $3.3 million, as compared with $2.7 million for the firstquarter 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 monthsended June 30, 2006. Assured Pharmacy provides customized services forpatients with, and physicians treating, chronic pain, including specializedexpertise in dispensing pain medication, including Class II substances,streamlined prescription processes, digital prescribing technologies, andspecialty drug compounding services.
"Our quarterly revenue growth has once again exceeded 20%. With theenormous size and growth forecasted for the pain medication market, we believewe should continue to generate significant growth in our revenues, in linewith 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 ourrevenues, we are narrowing our losses, and expect to be profitable by the endof 2007. Achieving profitability, while growing our business so rapidly, is atestament to the strength of our business model and the dedication of ouremployees," Mr. DelVecchio concluded.
For additional information regarding the second quarter results, theCompany's quarterly report is available on the SEC's website athttp://www.sec.gov.
About Assured Pharmacy
Assured Pharmacy provides customized services for patients with andphysicians treating chronic pain, including specialized expertise indispensing pain medication, including Class II substances, streamlinedprescription processes, digital prescribing technologies, and specialty drugcompounding services. APHY also offers a complete line of durable medicalequipment through its DME division. APHY currently operates retail sites inPortland, Oregon (three), Santa Ana and Riverside, California, and Kirkland,Washington. More information about APHY is available athttp://www.assuredpharmacy.com.
Certain statements in this news release may constitute "forward-looking"statements within the meaning of section 21E of the Securities and ExchangeAct of 1934. The Company believes that its expectations, as expressed inthese statements are based on reasonable assumptions regarding the risks anduncertainties inherent in achieving those expectations. These statements arenot, however, guarantees of future performance and actual results may differmaterially. Some of the factors that may affect the forward lookingstatements in this news release are the availability of licensed personnel tooperate pharmacies, the availability of suitable pharmacy locations, and theacceptance of new technologies by the medical profession. Other risk factorsare listed in the most recent Annual Report on Form 10-KSB, Quarterly Reporton Form 10-QSB, and most recent Registration Statement on Form SB-2 filed withthe Securities and Exchange Commission. Such forward-looking statementsinvolve risks, uncertainties, which may cause the actual results, performance,or achievement expressed or implied to differ.Contact: Andrew Brown ROI Group LLC 212-495-0202 [email protected]
SOURCE Assured Pharmacy