Trxade Group (OTCQB: TRXD), an integrated pharmaceutical services company, today announced the company’s financial results for its second quarter, ended June 30, 2019, as well as provided a business update and positive outlook for the rest of 2019. Among the highlights, Trxade reported generating record revenues of $1,916,414 for second quarter 2019 compared to $837,688 for the same quarter last year. In addition, gross profit for the company increased to $1,163,276 from $837,688 and operating income increased to $132,705 from $31,446 in the quarter ending June 30, 2019 and 2018, respectively. The company attributes the increase in revenue primarily to the acquisition of its wholly owned subsidiary Community Specialty Pharmacy, LLC. “During the second quarter 2019, we made excellent progress executing against our key strategic priorities in our Delivmeds.com program, our B2C commercial efforts and our proprietary B2B trading platform www.trxade.com, which enables independent pharmacies to purchase drugs at an average discount of between 15%-20%, enabling us to experience top and bottom line growth,” Trxade Chairman and CEO Suren Ajjarapu said in the news release.
To view the full press release, visit http://nnw.fm/4Vk5S
About Trxade Group, Inc.
Headquartered in Tampa, Florida, Trxade Group, Inc. (OTCQB: TRXD) is an integrated pharmaceutical logistical services company that combines a web-based purchasing platform for transactions between independent pharmacists and drug manufacturers, E-Hub with a mail order pharmacy, warehouse and drug delivery services for consumers nationwide The company has over 10,500 registered independent pharmacies on the web-based market platform that enables the pharmacies to quickly, cost effectively source and purchase pharmaceuticals, accessories and services from a wide range of manufacturers and drug distributors. For more information, visit the company’s website at www.TrxadeGroup.com.
NOTE TO INVESTORS: The latest news and updates relating to TRXD are available in the company’s newsroom at http://nnw.fm/TRXD
About NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
To receive instant SMS alerts, text STOCKS to 77948
For more information please visit https://www.NetworkNewsWire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
[email protected]