NBTY Shopping Has A Price As Charges Contribute To Earnings Drop
This article was originally published in The Tan Sheet
NBTY net earnings fell 46% to $15.9 mil. in the fourth quarter, pulled down by a $4 mil. charge relating to the aborted acquisition of Twinlab, the company said Nov. 10
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NBTY is in the process of "dropping more new products into GNC" stores as the firm completes changes to the recently acquired Rexall MET-Rx sports nutrition brand product mix and labeling, Chairman & CEO Scott Rudolph says in Jan. 22 earnings call (1"The Tan Sheet" Nov. 17, 2003, p. 10). CFO Harvey Kamil adds that NBTY plans to double the run rate of its fast-selling low carb offerings - CarbWise and CarbSolutions - over the next 12 months. The vertically integrated supplement manufacturer reports a 60% increase in revenue to $385.1 mil. and a net income rise of 24% to $23.6 mil. in the first quarter ended Dec. 31. US Nutrition wholesale division leads NBTY business units with 142% sales growth to $179.2 mil., in part due to strong sales from Nature's Bounty, Osteo-Bi-Flex and Sundown brands...
IdeaSphere will acquire all assets of dietary supplement manufacturer Twinlab for $65 mil. following the company's filing for Chapter 11 bankruptcy
NBTY plans to double newly acquired Rexall Sundown's earnings before interest, taxes, depreciation and amortization (EBITDA) to $78 mil. in the next nine months