MENLEY-JAMES FIRST QUARTER SALES GROW 10.9%
This article was originally published in The Tan Sheet
MENLEY-JAMES FIRST QUARTER SALES GROW 10.9% to over $ 6.2 mil., the company announced May 5. Menley-James reported net income of $ 1.9 mil. for the quarter based on deferred tax assets arising from a change in accounting for income taxes. Without the one-time extraordinary item the company would have shown a $ 37,000 net loss for the quarter. "Results for the first quarter were consistent with our expectations and reflect both increased investment in marketing support and encouraging trends in three key brands: Garfield's Children's Multivitamins, Serutan natural fiber bulk laxative, and Hold cough suppressant lozenges," President and CEO Larry White commented. "We continue to gain market share for Garfield and have now obtained distribution for the product through all of our major accounts, including all leading mass merchandisers," White noted. Menley-James introduced the children's multivitamin line in 1992 and by last fall had achieved a 6% share of the children's vitamin market prior to entering mass merchandisers. Menley-James also reported that Hold showed "strong double digit consumer sales gains versus a year ago," and said it expects "this positive trend will translate into better factory sales going forward." The company launched a nationwide on-shelf promotion for Hold cough drops in February ("The Tan Sheet" March 1, In Brief). "Factory sales of Serutan expanded significantly in those lead markets where our new physician detailing program with Kabi Pharmacia has been in place for several months," White said. He added that Menley-James is in the process of introducing this program nationwide. Chart omitted.
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