Drugstore.com Loses $15M for 3QDrugstore.com said yesterday that it lost $15 million during the third quarter, an amount less than half of the company's loss suffered during the same period last year.
The loss of 23 cents per share was better than most Wall Street expectations, as analysts had projected a loss of 27 cents to 30 cents per share, according to reports.
Though the e-tailer continues to improve results, its target date for pro forma profits is three years away.
Shortly after the Sept. 11 terrorist attacks, Drugstore.com reiterated its third-quarter guidance, saying the events would have minimal effect on its earnings.
During the quarter, sales rose 32 percent compared with the year-ago period to $35 million, as the average order size increased to $66.
Drugstore.com added 150,000 new customers during the quarter, bringing the total to 2.1 million. Drugstore.com mailed its first catalogs during the quarter as it implemented a phone order service.
Drugstore.com expects to lose $19 million in the fourth quarter on sales of $40 million to $41 million.