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Matrixx update

This article was originally published in The Tan Sheet

Executive Summary

Firm reports expected EPS loss in $0.08 to $0.12 range for second quarter (ended June 30), with net sales flat or up 10% compared to the year-ago period. Second quarter sales account for 10% of its "extremely seasonal" business and was impacted by an abrupt end to the cold season and resultant low levels of reorders, CEO Carl Johnson says July 1. The exec said sales of the firm's Zicam cold remedy "continue to grow at retail despite the reduction in cold-related consumer demand." Matrixx affirmed its full-year guidance of 30% increases in sales and earnings over 2003 net sales and earnings of $43.5 mil. and $3.3 mil., respectively...
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