Chattem
This article was originally published in The Rose Sheet
Executive Summary
Sales rose 56% to $146.2 mil. in the fiscal first half (ended May 31). For the three months, sales increased 43% to $83.4 mil., attributed in part to the Ban antiperspirant and deodorant brand. Gold Bond also had a "strong performance" during the period, driven by the "continuing strength" of its medicated lotion. Net income in the half was up 136% to $10.5 mil., prior to an extraordinary loss and product divestiture. Through three months, net income rose 87% to $6.9 mil. Chattem recorded a loss of $1.9 mil. on the early extinguishment of debt