COLD-EEZE Marketing Efforts Prove ProfitableCOLD-EEZE Marketing Efforts Prove Profitable
May 23, 2005
COLD-EEZE Marketing Efforts Prove Profitable
The QuigleyCorp. (NASDAQ:QGLY) reported improved 2004 results, crediting a fourth quarterboost in sales from its cold remedy segment. Sales for the fiscal year 2004climbed almost 6 percent to $44 million, benefiting from a fourth quarter salesincrease of 8 percent, compared to a year ago. Fourth quarter cold remedycategory sales grew 10 percent, while health and wellness category sales dropped9 percent.
According to the company report, cold remedy sales grew despite a less activecold season because of successful targeted advertising, marketing initiativesand new product extensions for COLD-EEZE, which have generated increasedconsumer awareness.
Despite the top line gains, earnings for the quarter slipped 20 percent to $2million or $0.13 per share, while net income for the year fell 33 percent to$0.45 million or $0.03 per share. The company increased its 2004 advertisingspending by $1 million and wrote-off $1.3 million in discontinued COLD-EEZEnasal spray inventory and revenues. Quigley also continues to spend more than $3million per year on research and development.
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