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Chattem Q4 and FY 2008

This article was originally published in The Rose Sheet

Executive Summary

Product innovation and continued advertising support will keep up the firm's momentum in 2009, according to Chattem's Jan. 29 earnings announcement. Firm booked $105.5 mil. in revenue for its fiscal 2008 fourth quarter, a 4.9% increase from the prior-year period. Strong performances from Gold Bond, Icy Hot, ACT, Aspercreme and Bullfrog were offset by reduced sales of Selsun Blue, Dexatrim and Capzasin and the voluntary recall of Icy Hot Heat Therapy. For the full year, sales totaled $454.9 mil., up 7.4%, and net income was $66.3 mil. Advertising and promotional expenses rose by $5.9 mil. to $118.1 mil. Chattem expects earnings per share in fiscal 2009 to be in the $4.80-$5 range. Firm remains confident that the weak economy and erosion of consumer confidence will not hurt its business (1"The Rose Sheet" Nov. 24, 2008, p. 10)
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