Nutraceutical cost-cutting helps bottom line
This article was originally published in The Tan Sheet
Despite a 2.7 percent dip in quarterly revenues, to $39.4 million from $40.5 million, Nutraceutical International Corp. reports net income rose slightly to $3 million versus $2.9 million in the year-ago period. The Park City, Utah, company said third-quarter diluted earnings per share were 27 cents, compared to 26 cents in the fiscal 2008 third quarter. "Selling, general and administrative expense reduction offset our lower gross margins," attributable to higher raw material and manufacturing costs, Chairman and CEO Bill Gay said July 30
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