Gum Tech
This article was originally published in The Tan Sheet
Executive Summary
Second quarter sales decline 24% to $1.4 mil. due to lower Zicam Allergy Relief revenues resulting from "high level of inventory held by retailers" prior to Q2 and "substantial introductory sales recorded in 2000," company announces Aug. 14. Sales for first six months increased 60% to $7.8 mil. from year-ago period. Phoenix-based firm reports Q2 net loss of $2.3 mil., citing "significant impact" due to settlement, legal costs due to patent infringement lawsuit brought by Quigley (1"The Tan Sheet" June 11, In Brief)
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Second quarter sales decline 24% to $1.4 mil. due to lower Zicam Allergy Relief revenues resulting from "high level of inventory held by retailers" prior to Q2 and "substantial introductory sales recorded in 2000," company announces Aug. 14. Sales for first six months increased 60% to $7.8 mil. from year-ago period. Phoenix-based firm reports Q2 net loss of $2.3 mil., citing "significant impact" due to settlement, legal costs due to patent infringement lawsuit brought by Quigley (1 (Also see "Gel Tech" - Pink Sheet, 11 Jun, 2001.)). |