Published on September 17, 2009 at 7:37 AM
Schiff Nutrition International, Inc., (NYSE:WNI), today announced results for the fiscal 2010 first quarter.
Schiff Nutrition’s net sales were $48.6 million for the three months ended August 31, 2009, compared to $47.8 million for the same period in fiscal 2009. For the fiscal 2010 first quarter, Schiff Nutrition reported net income of $4.4 million, or $0.15 per diluted share. This compares to fiscal 2009 first quarter net income of $3.2 million, or $0.11 per diluted share.
Bruce Wood, President and Chief Executive Officer, stated, “We were encouraged with our first quarter results. We experienced overall net sales growth of just under 2% in the first quarter versus the year ago period, as strong performance on our branded business more than offset a decline in private label sales volume. We also registered significant improvement in operating income, primarily due to an increase in gross profit from a more favorable quarter over quarter product sales mix.”
Wood added, “We were solidly profitable even as the competitive environment and economic conditions remained very challenging. Our increasingly strong balance sheet enabled us to return to our shareholders the $0.50 per share special dividend on August 28, 2009. We believe we are well positioned to support our brands and compete aggressively over the long term.”
http://www.schiffnutrition.com