Second Quarter Sales Fall at Prestige Brands

2009-11-05 | 03:33

Household product maker reports 2% decline to $84.2 million.

Prestige Brands Holdings, Inc., Irvington, NY, reported second quarter revenue from continuing operations fell 2% to $84.2 million. The results reflect the recent divestitures of Denorex, Prell and Zincon shampoo brands from the company’s personal care segment, which the company announced on October 28, 2009. The revenues and results from these three brands are classified as discontinued operations. The results of the second quarter reflect revenue increases for the over-the-counter healthcare segment and the personal care segment, offset by revenue declines in the household cleaning products segment.

Net income for the second quarter, including that related to the discontinued operations, rose 16% to $9.9 million.

“Overall we are pleased with the results of the second quarter and remain cautiously optimistic for the balance of the year," said Matthew Mannelly, president and CEO. "Based on our brands` strength in the categories in which we compete, combined with the passion and experience of our team, we believe we are well-positioned for future growth as the economy strengthens."

Net revenues from continuing operations for the first six months of fiscal 2010 declined 0.9% to $155.2 million. Total net income rose 12% to $18.2 million.