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Rexall Sundown

This article was originally published in The Tan Sheet

Executive Summary

Second quarter net sales up 78% to $115.5 mil. for the period ended Feb. 28; pro forma net income increased 67% to $14.7 mil. Pro forma income reflects a tax provision for the recently acquired Richardson Labs prior to its purchase in January. Income results also reflect approximately $2.5 mil. in expenses related to the acquisition. Sales to retailers rose 95% during the quarter and the Rexall Showcase International direct sales division posted a 61% gain. The company said its Osteo Bi-Flex product "remains the third best selling nutritional supplement in the country" and its Sundown herbals line is the number one selling herbals line in U.S. food, drug and mass market outlets. The company also announced retirement of Dean DeSantis as chief operating officer to pursue other interests. A successor has not yet been named...
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