SALT LAKE CITY, Mar 25, 2004 (BUSINESS WIRE) -- Weider Nutrition International, Inc. (NYSE:WNI) today announced results for the fiscal 2004 third quarter and nine-months ended February 29, 2004.
Weider Nutrition's net sales were $67.5 million for the fiscal 2004 third quarter, compared to $57.7 million for the same period in fiscal 2003. For its fiscal 2004 third quarter, Weider Nutrition reported net income of $2.6 million, or $0.10 per share (diluted), compared to $808,000, or $0.03 per share (diluted), for the same period a year ago.
Weider Nutrition's net sales were $191.9 million for the nine-months ending February 29, 2004, compared to $185.1 million for the same period in fiscal 2003. For the first nine months of fiscal 2004, Weider reported net income of $7.4 million, or $0.28 per share (diluted), compared to a net loss of $7.8 million, or ($0.30) per share for the same period a year ago.
Bruce Wood, president and chief executive officer, stated, "In the third quarter, we experienced solid revenue growth, primarily attributable to strong results in our flagship Move Free(R) brand. We are encouraged the marketing investment behind Move Free is enabling the brand to gain traction in the marketplace. We remain committed to our strategic focus on growing our brands in the dietary supplements category, which is exhibiting increased vitality."
About Weider Nutrition
Weider Nutrition International, Inc. develops, manufactures, markets and sells branded and private label vitamins, nutritional supplements and sports nutrition products in the United States and throughout the world. To learn more about Weider, please visit the Web site www.weider.com.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities Exchange Act of 1934, as amended, that are based on management's beliefs and assumptions, current expectations, estimates, and projections. These statements are subject to risks and uncertainties, certain of which are beyond the company's ability to control or predict, and, therefore, actual results may differ materially. Weider Nutrition disclaims any obligation to update any forward-looking statements whether as a result of new information, future events or otherwise.
Important factors that may cause these forward looking statements to be false include, but are not limited to: the inability to successfully implement marketing and spending programs behind our Move Free brand and other branded new products, the inability to achieve cost savings and operational efficiencies, the inability to increase operating margins and increase revenues, dependence on individual products, the inability to successfully restructure the Haleko business unit and make it profitable, dependence on individual customers, the impact of competitive products and pricing (including private label), market and industry conditions (including pricing, demand for products, level of trade inventories and raw materials availability and pricing), the success of product development and new product introductions into the marketplace, changes in laws and regulations, litigation and government regulatory action, lack of available product liability insurance for products containing ephedra, uncertainty of market acceptance of new products, adverse publicity regarding the consumption of nutritional supplements, changes in accounting standards, and other factors indicated from time to time in the company's SEC reports, copies of which are available upon request from the company's investor relations department or may be obtained at the SEC's website (www.sec.gov).