DEP CORP. FISCAL 1993 SALES RISE BY 2% TO $ 123.7 MIL.
This article was originally published in The Tan Sheet
Executive Summary
DEP CORP. FISCAL 1993 SALES RISE BY 2% TO $ 123.7 MIL., the Rancho Dominguez, Calif. company reported. Despite the sales gain, however, net income for the twelve months ended July 31 fell to $ 1.2 mil. from $ 6 mil. in the previous year. Dep attributed the drop to "higher advertising and promotional expenses." Fiscal 1993 sales of Dep's branded consumer products advanced 4% year-to-year, bolstered by "new product introductions in the oral care category," Dep said. The company launched Topol Plus whitening toothpaste in June and Crystal Fresh Lavoris mouthwash in the second quarter of 1993. Fourth quarter sales increased 6.5% to $ 35.6 mil., "the highest of any quarter in the company's history," according to Dep. However, net income for the three-month period decreased 72.9% to $ 448,000, from $ 1.7 mil. in the same period in 1992, a decline which the company said was due to increased promotional spending. Bausch & Lomb recorded $ 498.8 mil. in third quarter sales, which represents an 8.1% increase over third quarter 1992 sales, the Rochester, N.Y.-based firm announced. Net earnings for the three-month period ended Sept. 25 totaled $ 55.8 mil., up 11.6% year-to-year. In the company's healthcare segment, sales grew 20% to $ 325.2 mil. for the three-month period, Bausch & Lomb reported. Growth was driven by an 8% increase in contact lens care products and a more than 30% increase in oral care product revenues, according to the firm. Bausch & Lomb said that sales of the Interplak line of plaque removal devices and incremental sales of Clear Choice mouthwash led growth in the company's oral care sector. Chart omitted.