Trimmed Business Impacts Schiff Nutrition 2Q As Expected

Trimmed Business Impacts Schiff Nutrition 2Q As Expected

SALT LAKE CITY—Schiff Nutrition International (NYSE:WNI) reported revenues and earnings decreases for its second quarter (2Q), noting the declines were largely expected due to the discontinuance of certain private label business. Revenues for the quarter fell 20 percent to $35.5 million, while net income slid to $1.5 million from $3.5 million earned in 2Q last year.

“Second quarter sales declined as expected, primarily due to the discontinuance of certain private label business,” said Bruce Wood, president and chief executive officer (CEO). “Our branded sales also declined slightly in the quarter, but they are up approximately 8 percent for the first six months.” He further stated management is encouraged by the current overall strong performance in its branded sales at the retail level, as measured by Information Resources, Inc. and customer point of sale data.

“We expect to build our branded sales with the fiscal third quarter introduction of new Move Free® Advanced Formula,” he continued. “Based on clinical research, we believe Move Free Advanced is superior to typical glucosamine chondroitin combination products, which have already been proven effective in promoting joint health.” He said Schiff (www.schiffnutrition.com) will be providing substantial marketing support for this proprietary new product, beginning in its fiscal third quarter.

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