Schiff Nutrition 1Q Sales Slow Per Expectations

October 23, 2007

1 Min Read
Schiff Nutrition 1Q Sales Slow Per Expectations

SALT LAKE CITYSchiff Nutrition (NYSE:WNI) reported first quarter fiscal 2008 (1Q08) net sales of $40.7 million, down from $45.7 million sold for the same period in fiscal 2007. Earnings for 1Q08 fell to $1.6 million, or $0.06 per diluted share, from $3.3 million, or $0.12 per diluted share, earned a year ago. Bruce Wood, president and CEO, attributed the 1Q sales decline to a shift in the timing of certain customer promotions, although he noted the sales performance approximated Schiffs ( internal expectations. Accordingly, we believe our second and third quarter net sales will be positively impacted, he said. On the profitability front, we recorded a significant increase in our gross profit percentage, versus the year ago period. At the same time, our operating margin, which included the special dividend charge, met our internal expectations for the fiscal 2008 first quarter. We remain confident in our ability to compete in the highly competitive supplements arena and plan to continue to invest in our Schiff® branded business and our flagship Move Free® brand, in particular.

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