SALT LAKE CITY—Schiff Nutrition International Inc. (NYSE:WNI) posted slight increases in revenues and earnings for its third quarter (3Q08) ended Feb. 29. Net sales stepped up to $46.2 million from $45.0 million sold in the same period last year, and net income rose to $4.0 million, or $0.14 per diluted share, from $3.2 million, or $0.12 per diluted share, earned a year ago.
Management credited the top and bottom growth to solid branded growth, partially offset by a temporary decline in its private label business. "With respect to profitability, we were encouraged with the significant quarter-over-quarter improvement in our gross and operating margins," said Bruce Wood, president and CEO, Schiff. "In the fourth quarter, we expect to continue our aggressive marketing campaign in support of our Move Free® brand, including the recent introduction of the smaller Move Free tablet and a new Move Free line extension. While the overall supplements category remains highly competitive, we are confident in our long-term ability to profitably grow our Schiff branded business."
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