Drugstore.com lowers fiscal 2008 outlook

Online pharmacy Drugstore.com Inc. lowered its fiscal 2008 outlook Monday, citing a challenging economic environment.

For the fiscal year, the company now expects results to range from a loss of $3 million to a profit of $1 million.

In February, Drugstore.com predicted full-year results ranging from a loss of $1 million to a profit of $3 million.

The company also lowered its fiscal 2008 revenue outlook to a range of $490 million to $500 million from a previous forecast of $498 million to $512 million.

Analysts polled by Thomson Financial expect fiscal 2008 net income of $2.7 million on revenue of $501.2 million.

Drugstore.com also gave second-quarter guidance for a loss of $2 million to $3 million on revenue of $118 million to $122 million.

Analysts expect a second-quarter net loss of $2.4 million on revenue of $124 million.

Also Monday, the company said its chief financial officer, There du Pont, will resign to run a private foundation effective May 29. Du Pont will remain a consultant for the company until the end of August.

The company said that it is promoting two senior financial executives to take his place. Rob Potter, who is vice president, chief accountant will serve as vice president, chief accounting officer. Tracy Wright, who is vice president of financial planning and analysis, will work as vice president, chief finance officer.

Shares of Drugstore.com rose 2 cents to close at $2.44.