Quigley
This article was originally published in The Tan Sheet
Executive Summary
Sales for Cold-Eeze zinc lozenge marketer down 48% to $36.4 mil. in 1998 from $70.2 mil. in 1997. Net income for the year dropped 67.5% to $6.8 mil. The Doylestown, Penn.-based company says 1998 sales were down due to "mild weather conditions," new herbal cold treatments and increased advertising expenditures to "compensate for the loss of free coverage by the national news media." Previous year sales were high due to a "$12 mil. sales backlog from December 1996 and an estimate in excess of $20 mil. for the initial national pipeline fill for Cold-Eeze." For the fourth quarter, sales were down 41.7% to $17 mil., while earnings decreased 72% to $2.5 mil
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