Net sales for the quarter increased 2.5% from $39.9 million to $40.9 million, while profits declined from $2.6 million in 2007, to $1.5 million in 2008.
Fiscal year incomes were down nearly 10% to $11.8 million, or $1.07 per share, compared to $13 million, or $1.15 per share for fiscal 2007. Sales were up 6.4% to $167 million in 2008, compared to $157 in 2007. The full-year results included a goodwill impairment charge of $1.8 million or $0.16 per share.
CEO Bill Gay commented on the company’s performance, “Fiscal 2008 revenues were the highest in company history and reflect the positive contributions of our fiscal 2007 and 2008 acquisitions. Fiscal 2008 gross profit margins were strong and improved slightly to 54.4% as a result of our focus on raw material sourcing and controlling manufacturing costs.”
Nutraceutical International’s stock price closed at $6.90 per share on Monday. Prices have ranged from a 52-week high of $14.00 to a 52-week low of $6.32
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