December 5, 2005
Weider Renamed Schiff, Gets 1Q Boost From Joint Care Products
SALT LAKE CITY
WeiderNutrition International Inc. (NYSE:WNI) has officially changed its name toSchiff Nutrition International Inc. (www.schiffnutrition.com), the moniker under which it had beenoperating since it sold its Weider and Haleko brand businesses earlier thisyear. The streamlining of its business to focus on its Schiff brand appears tohave paid off, as the companys first quarter revenues have grown almost 10percent, reaching $48.0 million for the period. Management credited the boost toa 16.9-percent growth in branded sales, primarily in its joint care products. Despite the top line growth, gross margins slimmed in thequarter, as raw material costs continued to rise. However, earnings got a boostfrom a favorable tax rate and some unusual income, reaching $4.9 million or$0.18 per share, compared to $3.7 million of $0.14 per share earned a year ago.
We are encouraged by the solid sales results in thequarter, and by the positive results contained in the abstract of the NationalInstitutes of Health Glucosamine/Chondroitin Arthritis Intervention Trial [NIHGAIT] joint care study regarding glucosamine and chondroitin, said BruceWood, president and chief executive officer (CEO).
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