In Brief: MEM Company
This article was originally published in The Rose Sheet
Executive Summary
MEM Company: Third quarter sales fell 19.8% to $13.4 mil., the company reported Nov. 14. MEM recorded a $184,000 net loss during the period, compared to earnings of $554,000 during the third quarter of 1995. For the nine months, sales slipped 18.4% to $22.6 mil. The company reported an earnings loss of $4.6 mil., compared to a loss of $2.6 mil. the prior year. The quarter marks MEM's final reporting period of operating results; Renaissance Cosmetics is in the process of acquiring the fragrance company...