Schiff earnings dip
This article was originally published in The Tan Sheet
Executive Summary
Sales for the fiscal first quarter (ended Aug. 31) of 2007 were $45.7 mil., compared to $48 mil. during the prior-year period, Schiff Nutrition announces Oct. 10. The Salt Lake City, Utah-based firm also reported a drop in net income, which totaled $3.3 mil. in comparison to $4.9 mil. during the first fiscal quarter of 2006. Despite the drop, the firm saw a 2.5% increase in joint category net sales, with a "slight increase" in the flagship Move Free brand. "Our overall branded sales results met our internal expectations as did our earnings performance, and we were pleased with the improvement in both our gross profit and operating income margins," President and CEO Bruce Wood said. Schiff "plans to continue" marketing support behind its new Move Free Advanced product in 2007, and is "encouraged" by positive consumer response to the new SKU. Competitive conditions in the joint category are "intensifying considerably," Wood added. Schiff expected the launch of Move Free Advanced to boost branded product sales (1"The Tan Sheet" Jan. 16, 2006, In Brief)...
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Schiff Q2 results
Sales for Schiff Nutrition decreased to $35.5 mil. for the second quarter of 2006 (ending Nov. 30, 2005) from $44.3 mil. for the prior-year period due to the "discontinuance of certain private label business," President and CEO Bruce Wood reports Jan. 12. "Our branded sales also declined slightly in the quarter, but they are up approximately 8% for the first six months," he states. Branded product sales are expected to increase in the third quarter with the launch of Move Free Advanced Formula joint product, according to the Salt Lake City, Utah-based firm. "We will be providing substantial marketing support for this proprietary new product beginning in our fiscal third quarter," Wood continued. The company's second quarter net income of $1.5 mil fell approximately $2 mil. from the year-ago period...
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