SALT LAKE CITY, Jan 11, 2005 (BUSINESS WIRE) -- Weider Nutrition International, Inc. (WNI) today announced results for the fiscal 2005 second quarter and six-months ended November 30, 2004.
Weider Nutrition's net sales were $67.0 million for the second quarter, compared to $60.8 million for the same period in fiscal 2004. For its fiscal 2005 second quarter, Weider Nutrition reported net income of $3.5 million, or $0.13 per share, compared to $2.7 million, or $0.10 per share, for the same period a year ago.
Weider Nutrition's net sales were $136.7 million for the six-months ended November 30, 2004, compared to $124.4 million for the same period in fiscal 2004. For the first six months of fiscal 2005, Weider Nutrition reported net income of $7.2 million, or $0.27 per share, compared to $4.9 million, or $0.18 per share, for the same period a year ago.
Bruce Wood, president and chief executive officer, stated, "The increase in second quarter net sales was driven primarily by continued strong performance of our flagship Move Free(R) brand. During the second quarter, we also initiated the launch of our new Lubriflex3(TM) premium joint care entry and continued our efforts to support our Multipower and Multaben brands."
Wood continued, "The company recorded solid improvement in net income, with contributions from all three business units. Although our year-to-date profit trend is strong, we anticipate escalating raw material costs, significant marketing support of the Lubriflex3 launch, and continuing difficult economic conditions in Germany, may negatively impact operating margins in the second half of the fiscal year.
"Nevertheless, we plan to continue to invest in branded growth initiatives and explore branded acquisition opportunities that complement our existing portfolio. We remain optimistic about the potential for long-term growth within our industry."
Conference Call Information
Weider Nutrition International will hold a conference call today, January 11, 2005 at 11 a.m. ET. The U.S. domestic access number is (800) 299-0148. International participants should dial (617) 801-9711. Please call in approximately ten minutes in advance. The conference call will be broadcast live over the Internet at www.weider.com. If you do not have Internet access, a replay of the call will be available by dialing 1-888-286-8010 and entering access code 27846149. The telephone replay will be available through January 13, 2005 and the webcast through January 31, 2005.
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 reach a definitive agreement regarding the potential sale of the Weider branded business, the inability to successfully implement marketing and spending programs behind our Move Free brand and other branded new products, the inability to successfully launch and gain distribution for our Schiff Lubriflex3 product and Schiff Move Free product enhancements, raw material pricing and availability and the inability to pass on raw material price increases to customers, 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 relaunch brands in our Haleko Unit, dependence on individual customers, the impact of competitive products and pricing (including private label), market and industry conditions (including pricing, demand for products and level of trade inventories), the success of product development, the inability to obtain customer acceptance of new product introductions, 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).