Sales & Earnings In Brief
This article was originally published in The Tan Sheet
Executive Summary
Bayer: Kmart bankruptcy, coupled with slow cough/cold season, 70% consumer sales dive in Argentina contribute to 9% drop in consumer care revenue to $449 mil. (€1 = $.8979) in the first quarter. Overall, Bayer health care sales dipped 5.5% to $2.16 bil., largely due to withdrawal of cholesterol-lowering drug Baycol last August (1"The Tan Sheet" Aug. 13, 2001, In Brief). Net income rose 18.3% to $469.6 mil. for the quarter, firm says...
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Bayer: Kmart bankruptcy, coupled with slow cough/cold season, 70% consumer sales dive in Argentina contribute to 9% drop in consumer care revenue to $449 mil. (€1 = $.8979) in the first quarter. Overall, Bayer health care sales dipped 5.5% to $2.16 bil., largely due to withdrawal of cholesterol-lowering drug Baycol last August (1 (Also see "Statin adverse event?" - Pink Sheet, 13 Aug, 2001.), In Brief). Net income rose 18.3% to $469.6 mil. for the quarter, firm says.... Inverness: Q1 revenue jump of 223.7% to $38.2 mil. due primarily to additional sales contributed by recently acquired Unipath women's health business, IVC nutrition business, Inverness says April 30. Chairman & CEO Ron Zwanziger notes integration of Unipath, which was acquired from Unilver in December, has resulted in 16% reduction of FTEs. Firm reports 86% of total revenue in Q1 was related to consumer products, 14% from clinical diagnostics. Inverness recorded net loss of $761,000 for the quarter, compared with last year's gain of $710,000. Firm also highlights "recently enhanced" ClearBlue pregnancy test, "which now delivers home-test results four days before an expected period".... Twinlab: Company takes $1 mil. charge in Q1 related to disposal of Health Factors International operation to be completed in Q2, which will eliminate 7% of current workforce, Twinlab tells analysts May 1. Cost reduction efforts expected to generate annualized savings of more than $4 mil. beginning in Q3. To restore topline growth, firm continues to pursue distribution to new gyms, notes addition of "major retail chain," resumed focus on health and natural food channel. Twinlab also is planning marketing push behind Energy Fuel drink, ads for revamped Diet Fuel line. First quarter sales decreased 8.5% to $48.2 mil. and net income totaled $3.7 mil., compared to a $15.9 mil. loss last year; income includes $6.9 mil. income tax benefit.... Herbalife: Buyout by equity groups Whitney & Co., Golden Gate Capital is "well underway" and should be completed "somewhere between June 15 and July 15," Herbalife President & CEO Frank Tirelli tells analysts May 2. Plans to take company private were announced in April (2 (Also see "Herbalife Buyout By Equity Groups Achieves Long-Sought Private Ownership" - Pink Sheet, 15 Apr, 2002.), p. 5). Herbalife reported "strong" first quarter results, with total retail sales up 8.3% to $432.7 mil., spurred by a 17.1% sales increase in the Americas and a 9% gain in Europe. Q1 retail sales in Asia dipped 2%, primarily attributable to year-over-year declines in Japan. Net revenue for the quarter rose 8.2% to $265.8 mil., while net income more than doubled to $19.9 mil.... |