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Taro earnings

This article was originally published in The Tan Sheet

Executive Summary

Hawthorne, N.Y.-based firm cites advertising expenses in support of ElixSure cough/cold and Kerasal moisturizer lines as a reason for an approximate 55% reduction in first-quarter net earnings to $5 mil. Overall sales declined approximately 7% to $84.1 mil., Taro reported April 26. The costs were incurred prior to the product lines' March divestment, the company maintains. Taro turned over North American marketing and distribution rights for the lines to Alterna in March (1"The Tan Sheet" March 7, 2005, p. 11)...
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