TRxADE HEALTH Rallies As Revenue Grows 20%, Loss Narrows

(RTTNews) - Shares of health services IT company TRxADE HEALTH, Inc. (MEDS) are rising more than 20% Tuesday morning after reporting about 20% growth in revenue in the fourth quarter.

Revenues for the quarter increased 19.7% year-on-year to $2.4 million.

Net loss in the fourth quarter narrowed to $0.8 million or $0.10 per share from $2.3 million or $0.29 per share loss in the same quarter a year ago, as a result of a $726,000 loss on impairment of goodwill and a one-time $1,081,000 inventory write down, compared to the same quarter last year.

MEDS, currently at $2.74, has been trading in the range of $1.64-$10.82 in the past 52 weeks.