Senetek
This article was originally published in The Rose Sheet
Executive Summary
Skin care product sales, royalties from licensees drove up revenue 213% to $2.4 mil. in second quarter, firm announces. Napa, Calif. company manufactures Kinetin anti-aging ingredient used by Revlon and The Body Shop. Firm moves into the black with net income of $88,000 in the quarter, up from net losses of $1.8 mil. the prior year period and $593,000 in first quarter 2001. Operating expenses were reduced by 21% to $1.4 mil., Senetek says. Revlon launched Almay Kinetin Skincare line globally in June and The Body Shop introduced Advanced Skin Re-Leaf with Kinetin in April (1"The Rose Sheet" March 19, p. 7 and 2Feb. 19, p. 6)
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