CHATTEM, Inc. Reports 2003 Third Quarter Earnings Per Share Increase Gives Initial Guidance for 2004
Total revenue for the quarter to $ 59.2 million, operating income was $ 15.9 million and earnings before accounting change was $ 6.8 million. Earnings per share for the third quarter of fiscal 2003 were $ .34, $ .02, or 6.25% over the third quarter of fiscal 2002, earnings per share.For the first nine months of fiscal 2003 total revenues were $ 181.2 million, operating income was $ 45.4 million and earnings before accounting change was $ 18.9 million. Earnings per share before accounting change for the first nine months of fiscal 2003, compared to $ .95 $ .75 for the same period of fiscal 2002, representing an increase of 27%.
Third quarter results were obtained in relation to annual turnover growth of Gold Bond (R), Selsun Blue (R), Garlique (R) and NewPhase (R), by declines in the current analgesic portfolio, Dexatrim (R), pHisoderm (R) and Pamprin (R). The net turnover of Gold Bond franchise by 18% led by the three new elements delivered during the second quarter and the continuing strength of the Pédicurie part of the transaction. Bond or lotion also experienced in the annual report of strong growth in turnover. Selsun Domestic net turnover of 14% blue increases, the continuing excellence of this brand acquired in March 2002. Garlique’s net turnover increased by 17% per annum in the comparable quarter of extending their leadership in the health of garlic extract cholesterol category. NewPhase, additional menopause, a sharp increase in turnover of 142% in response to a media campaign effective.
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