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In Brief: NutraMax

This article was originally published in The Tan Sheet

Executive Summary

NutraMax: Sales increased 56.4% to $34.5 mil. for the fiscal first quarter ended Jan. 3, boosted by the recently acquired first aid line, which contributed nearly 25% of total sales for the three months. Sales for cough/cold products rose 27% during the quarter and accounted for 33% of net sales. Net income for the quarter fell 47.4% to $810,000, as the company continues to feel the effects of start-up problems associated with its new production capacity. Commenting on results, the Gloucester, Mass.-based company said "customer orders remain strong and our single most important challenge remains the reduction of our order backlog." Shipments from the company's new national distribution center began in early January and the facility was expected to be fully functional by the end of January...

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