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Celestial Seasonings

This article was originally published in The Tan Sheet

Executive Summary

Net sales fell 5.3% to $35.7 mil. for the three months ended Dec. 31, due primarily to a 63.3% decline in dietary supplement sales from the year-ago period, the company reports in an SEC 10-Q filing. Supplement sales for the FY 2000 first quarter totaled $1.7 mil. In the previous quarter, the Boulder, Colo.-based specialty tea manufacturer ceased production of its 30-count supplement line and offered a return program to customers. Gross profit margin as a percent of net sales increased from 62.8% to 64.6% due to "a better tea product mix, improved efficiencies in manufacturing and lower sales of dietary supplements that generate lower gross margins"
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