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NBTY Records Stellar 3Q02NBTY Records Stellar 3Q02

August 26, 2002

1 Min Read
NBTY Records Stellar 3Q02


NBTY Records Stellar 3Q02

BOHEMIA, N.Y.--NBTY Inc. (NASDAQ:NBTY) reported arecord quarter for operations and posted doubled earnings for its third quarter(3Q02), ended June 30 and posted July 22.Sales for 3Q02 rose to $252.0 million from $203.9 million loggedin 3Q01. Gross margin dipped slightly to 55.6 percent of sales, while operatingexpenses improved to $86.7 million, partly due to a $15.0 million settlementlogged in 3Q02 in which the company was a plaintiff in a price-fixing suit. Netincome more than doubled to $29.7 million, or $.45 per share earned, from $13.4million, or $.20 per share earned.The company credits its increased sales to selling more coreproducts and strong sales response to new product introductions and promotions.NBTY also reported that greater consumer awareness and acceptance of naturalalternatives such as flaxseed oil, fish oils and soy-based products contributedto increased revenues. Sales for Puritan's Pride increased 16 percent, VitaminWorld sales grew 13 percent and the Holland & Barrett brand posted a12-percent increase. "We are pleased to report a record quarter foroperations with all divisions generating substantial sales increases," saidScott Rudolph, chairman and chief executive officer. "Our wholesalebusiness again contributed substantially to the overall rise in revenues."
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