Chattem forecast
This article was originally published in The Rose Sheet
Executive Summary
Firm raises its FY 2007 earnings-per-share guidance to $2.94 to $3.19; the adjustment anticipates sales growth from the five brands acquired from Johnson & Johnson in January. "We're still launching these new products, and small moves in sales can result in big moves in profitability," President and COO Robert Bosworth said at the SunTrust Robinson Humphrey Institutional Conference April 10. Advertising for the new brands, which began in February, is showing "strong responses," the exec said. Shipping and distribution of the brands were assimilated into the firm in April. For the remainder of FY 2007 and into FY 2008, new products and packaging will be introduced, and the manufacturing of lotions, creams and ointments will be brought in-house, Bosworth said...