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PlanetRx.com

This article was originally published in The Tan Sheet

Executive Summary

Net revenue rose 56.9% to $8 mil. in fourth quarter and 302.2% to $36.2 mil. for year, PlanetRx.com says Feb. 22 after announcing plans to discontinue OTC health and beauty Feb. 12 (1"The Tan Sheet" Feb. 19, p. 9). Net loss was $176 mil. in quarter, down 70.9%, and $303.6 mil. in 2000, down 209.8%, including non-cash and non-recurring charges. Negative cash flow is expected to continue into 2001 and firm is taking steps to liquidate its distribution center and other assets. A conference call scheduled for Feb. 21 when the firm was expected to announce a new specialty pharmacy business partner was postponed
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