Chattem Q1 2007
This article was originally published in The Rose Sheet
Executive Summary
Twenty-percent revenue growth for the first quarter of fiscal year 2007, to $100.8 million, was driven by sales of the five products - including anti-cavity mouthwash brand ACT - acquired from Johnson & Johnson in January for $410 million (1"The Rose Sheet" Jan. 8, 2007, In Brief). "We did not have time to do anything dramatically new, but since we bought very solid brands, they performed very solidly," CEO Zan Guerry remarked during March 22 earnings call. Results do not reflect the full impact of advertising Chattem launched in February, he added. Firm's Gold Bond and Icy Hot franchises also contributed to the quarter's success, their sales growing 27% and 23%, respectively, Chattem reports. Like last quarter, increases were offset by a reduction in sales of Icy Hot Pro-Therapy from launch levels in the first quarter of FY 2006 (2"The Rose Sheet" Feb. 19, 2007, p. 11)...
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