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NutraMax sales up 17.2% to $94.3 mil. in FY 1997, net income down 60%.

This article was originally published in The Tan Sheet

Executive Summary

NUTRAMAX ANNUAL SALES UP 17.2% TO $94.3 MIL, NET INCOME FALLS 60% to $2.3 mil. in the fiscal year ended Sept. 27, compared to earnings of $5.7 mil. in the previous fiscal year (ended Sept. 30, 1996), the private label H&BA company reported Nov. 19. NutraMax had expected the net income decline; the firm announced Oct. 14 that production and distribution problems in its largest segment -- cough/cold products -- would result in a fourth quarter net loss and lower year-end results ("The Tan Sheet" Oct. 20, p. 16). In the fourth quarter, NutraMax recorded a $1 mil. net loss on sales of $24.1 mil., which were up 7.5%.
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