Matrixx reports lowest cold season since 1999
This article was originally published in The Tan Sheet
Executive Summary
Phoenix-based Matrixx Initiatives announced Jan. 16 the incidence of illness for the 2007/2008 season, which runs October to March, has hit the lowest level since its Zicam cough/cold brand was introduced in 1999, which affected reorders the firm received in the third quarter ended Dec. 31, 2007 ("The Tan Sheet" Oct. 29, 2007, In Brief). Matrixx anticipates sales for the quarter to fall below $36.2 million and a net loss "on par" with $463,000, as recorded in the quarter ended Dec. 31, 2006. The firm will update the previously issued guidance for fiscal 2008, but says its most recent tracking data shows an increase in illness and if it continues, it anticipates its fiscal 2008 net sales to be at 5 percent or above the $97.6 million recorded at the end of fiscal 2007. The firm expects to report net income between $9 million and $10 million, or $.90 and $1.00 per share...
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