- Delivered Revenue of $852,923 an Increase of 14% Year-Over-Year Periods;
- Delivered Fifth Quarter in a Row Operating Income
TAMPA, FL / ACCESSWIRE / April 30, 2018 / Trxade Group, Inc., (OTCQB: TRXD) a web-based market platform with 8,900 registered independent pharmacy customers that enables its customers to quickly source and purchase pharmaceuticals, accessories and services from a wide range of manufacturers and drug distributors today announced quarterly results ended March 31, 2018.
2018 First Quarter Results Summary:
- Revenues from continuing operations of $852,923, compared to $745,943, a 14% increase over the previous same quarter in 2017
- Net Income was $82,269 compared to $79,726 in first quarter of 2017.
Suren Ajjarapu, Chairman and CEO, Trxade Group said, "Our year has started well. Trxade is focused on the disciplined delivery of our plans. First quarter earnings and cash flow were as expected. We have shown continued operational momentum - it was another strong quarter for the platform and the first of our three major projects has begun, with another project set to begin. We expect these to drive a material improvement in operating cash flow from the second half."
- Trxade continues to expand the reach of its trading platform through organic expansion, with 200 new independent pharmacies registered in first quarter 2018.
About Trxade Group, Inc.
Headquartered in Tampa, Florida, Trxade Group, Inc. (TRXD) is a web-based market platform that enables trade among healthcare buyers and sellers of pharmaceuticals, accessories and services. Founded in 2010, Trxade Group currently operates the trading platform with 8900 registered members. For additional information please visit us at http://www.trxadegroup.com.
Supplemental Financial Data
The Attached Selected Supplemental Financial Data tables disclose amounts reflected in our historical financial results and include the results of operations for a comparable period. Trxade utilizes certain financial measures that are not calculated in accordance with accepted accounting principles (GAAP) to access its financial performance such as working capital. This presentation should be viewed as a supplement to and not a substitute for the results of operations presented on a GAAP basis. Shareholders are encouraged to review the company's filings with the Securities and Exchange Commission.
The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. Except as may be required by applicable law, we assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The company undertakes no duty to update forward-looking statements.
Investor Relations Contact:
Trxade Group, Inc.
Selected Consolidated Financial Data
For the Three Months Ended
March 31, 2018 and 2017
General and Administrative Expense
Options and Warrants Expense
Total Operating Expense
Net Income per Common Share - Basic:
Net Income per Common Share - Diluted:
Weighted Average Common Shares Outstanding Basic
Weighted Average Common Shares Outstanding Diluted
Balance Sheet Data:
March 31, 2018
March 31, 2017
SOURCE: Trxade Group, Inc.