Matrixx net sales down
This article was originally published in The Tan Sheet
Executive Summary
Sales of Zicam cough/cold products increased about 15% in Matrixx Initiatives' second quarter, the firm reports Oct. 24. Marketing spending for the 2007/2008 cold season will increase 15%, the company projects. However, net sales in the July-September period for the Phoenix-based OTC healthcare firm fell 16% to $28.6 mil. and net income declined 10.4% to $6.4 mil. In a same-day earnings call, Matrixx executives said the firm's performance is in line with expectations due to large retail customers' caution in off-season purchases of cough/cold products...