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Kinetin sales

This article was originally published in The Rose Sheet

Executive Summary

Senetek proprietary skin care line, Kinetin Plus, will lessen dependence on licensees and capitalize on intellectual property, CEO Frank Massino says. Product line will include eight SKUs to be test marketed in spas and salons and online, exec adds during firm's May 15 first quarter sales and earnings announcement. Senetek is developing science-based educational infomercial for testing in August. Senetek sales declined 17% in Q1 to $2.1 mil., due to a reduction in product sales and royalties, company says. Royalty declines stemmed from 33% reduction in royalties from Revlon, which experienced lower than anticipated unit sales of its Almay Kinetin brand. Senetek recorded net loss of $69,000 for the three months, compared to income of $504,000 a year ago...

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