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Weider

This article was originally published in The Tan Sheet

Executive Summary

Schiff Move Free joint care sales of $31.7 mil. contribute to overall 1.3% sales increase to $91.2 mil. in fiscal first quarter (ended Aug. 31) despite "continued softening in industry and category trends," President & CEO Bruce Wood tells analysts Oct. 16. U.S. sales rose 2.2% to $65 mil.; consolidated net income rose 9% to $2 mil., although the increase reflects a one-time $3.5 mil. gain from a litigation settlement and $600,000 restructuring charge. New products and line extensions under Move Free, Weider, American Bodybuilding and Tiger's Milk brands achieved almost $6 mil. in sales. Weider plans to slow new product releases in FY 2001 and concentrate on top brands. Firm predicts continued flat revenues for the balance of the year and expects profitability from operating income
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