drugstore.com Expects 2013 Revenue of Over $750 Million

drugstore.com, inc. DSCM is announcing three-year and full year 2011 guidance at a Company held Analyst Day in New York, N.Y. The Company projected 2013 annual revenue of over $750 million and adjusted EBITDA margins of 5.5% or better. Adjusted EBITDA is a non-GAAP financial measure defined as earnings before interest, taxes, depreciation, and amortization of intangible assets, adjusted to exclude the impact of stock-based compensation expense. The Company reaffirmed their first quarter 2011 guidance of net sales in the range of $123.0 million to $126.0 million, net loss in the range of $700,000 to $2.5 million, adjusted EBITDA in the range of $2.7 million to $4.3 million, and ongoing adjusted EBITDA in the range of $2.0 million to $3.5 million. The Company issued fiscal 2011 guidance of net sales in the range of $515.0 million to $530.0 million, net income in the range of $200,000 to $2.5 million, adjusted EBITDA in the range of $18.3 million to $22.7 million and ongoing adjusted EBITDA in the range of $16.0 million to $20.0 million. The Company also projected total gross margins for 2011 of 28.2-28.7%, reflecting gross margins in OTC of 29-29.5% and Vision of 24-24.5%.