OKLAHOMA CITY, Dec. 4 PD-Rx Pharmaceuticals, Inc. (Pink Sheets: PDRX) today announced revenue of $5,012,334 for the first quarter ended September 30, 2009, a 24% decrease over the same period last year. Operating income and net income for the quarter were $133,681 and $80,402, respectively, each a 70% decrease over the same period last year.
Results were impacted by a decrease in pharmacy sector sales. This trend is expected to continue throughout the rest of the fiscal year. In this economic environment, the company is focused on three main actions; working with customers to provide high value products at the lowest cost, increasing focus on expense management and targeting investment into the highest priority strategic opportunities.
ABOUT THE COMPANY:
PD-Rx offers pharmaceutical and management strategies to the healthcare industry. Our management strategies focus on new products, solid business partners, and the specialized segment of the pharmaceutical industry. As a licensed FDA manufacturer and packager, PD-Rx offers a full spectrum of medications and specialized services. Our goal is to develop a matrix of cost containment tools and products that we can merge into any healthcare network to enhance patient care and improve managed care organizations bottom line. We provide proprietary products and prepackaged medications that are viewed by patient, insurance payers and healthcare providers as a progressive and responsive practice.
This press release contains "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks and uncertainties or other factors, which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to vary from those forecast or implied in this release. Factors that might cause such a difference include, without limitation, decline in demand for the company's products or services, and the effect of general economic conditions and factors affecting the industry.
Jack L. McCall, EVP & COOPh. 405-942-3040 / [email protected]
SOURCE PD-Rx Pharmaceuticals, Inc.