Matrixx Rejected On ProPhase Labs Bid, Picks Up Option On Shares
This article was originally published in The Tan Sheet
Executive Summary
In a bid to dominate the market for zinc cold remedies, Matrixx Initiatives attempts to acquire ProPhase Labs, but is turned away by CEO Ted Karkus who asserts ProPhase’s growth prospects outweigh the benefits of a sale.
You may also be interested in...
Sales & Earnings In Brief
Cold-EEZE marketing boosts retail reorders; Prestige Brands growth refutes Genomma bid; Mannatech incentivizes new recruits; advertising adds to ChromaDex’s net loss; more Sales and Earnings In Brief.
CEO Karkus Talks Cold-EEZE Turnaround At “Lean, Mean” ProPhase Labs
In an interview, ProPhase Labs CEO Ted Karkus talks about the ongoing turnaround of Cold-EEZE zinc lozenges, ProPhase’s flagship brand, as well as efforts to launch new products and restore relationships with retailers.
Sales & Earnings In Brief
Prestige's OTC brands grow: Prestige Brands Holdings reports flat quarterly net sales - $73.2 million compared to $73.5 million in the year-ago period - during its Aug. 5 fiscal 2010 first-quarter earnings call. While the Irvington, N.Y.-based firm's household product revenues declined by 5 percent, its over-the-counter revenues were at $40.3 million, a 3 percent increase from the previous Q1. Increases in Chloraseptic, Clear Eyes, Little Remedies, The Doctor's and Allergen Block brands drove sales. The Little Remedies pediatrics line was up 40 percent and The Doctor's dental devices rose 47 percent, CEO Mark Pettie said during the call. The firm reported increased sales of Cutex nail polish remover, which were "partially offset by a decline on Denorex shampoo." Net income for the quarter was $8.3 million, a 6.4 percent boost from the previous year's $7.8 million, which the firm attributed mainly to a lower interest expense of $5.7 million for the quarter, $3 million lower than first quarter 2008