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IVC

This article was originally published in The Tan Sheet

Executive Summary

FY 2000 net income of $5.1 mil., attributable to a $16.3 mil. recovery in vitamin price-fixing litigation, compares favorably to $7 mil. net loss in prior year, supplement maker says in Oct. 27 announcement of results for fourth quarter and year ended July 31. Quarterly and annual sales fell approximately 20% to $17.6 mil. and $85.9 mil., respectively. Freehold, N.J.-based firm attributes declines to cancellation of certain sales contracts due to inadequate margins, discontinued items at a major account, divestiture of the Vitamin Specialties retail unit and industry-wide softness in some segments. Separately, IVC reached a $30.5 mil. credit facility with First Union National Bank subsidiary Congress Financial
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