Prestige earnings drop on declining sales
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- August
- 7
Prestige Brands Holdings Inc., the Irvington company that markets Comet cleanser, Compound W wart remover and Prell shampoo, said this morning earnings in the first quarter of its fiscal 2008 dropped 6.5 percent to $7.8 million, or 16 cents a share.
Revenues in the quarter that ended in June dropped to $72.92 million from the $78.04 million reported for the first quarter of fiscal 2007.
The company said the decline was largely due to slumping sales of its wart treatment products. Earnings were also affected by the loss of the Little Remedies infant cough and cold medicines, which were withdrawn from the market last fall because of the medical community’s concerns about their safety.
Last year’s earnings were $8.3 million, or 17 cents a share.
This entry was posted
on Thursday, August 7th, 2008 at 8:19 am by Allan Drury.
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