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Schiff Q2 results

This article was originally published in The Tan Sheet

Executive Summary

Sales for Schiff Nutrition decreased to $35.5 mil. for the second quarter of 2006 (ending Nov. 30, 2005) from $44.3 mil. for the prior-year period due to the "discontinuance of certain private label business," President and CEO Bruce Wood reports Jan. 12. "Our branded sales also declined slightly in the quarter, but they are up approximately 8% for the first six months," he states. Branded product sales are expected to increase in the third quarter with the launch of Move Free Advanced Formula joint product, according to the Salt Lake City, Utah-based firm. "We will be providing substantial marketing support for this proprietary new product beginning in our fiscal third quarter," Wood continued. The company's second quarter net income of $1.5 mil fell approximately $2 mil. from the year-ago period...

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