Schiff Nutrition International’s third-quarter sales grew 7.9%, the company announced on March 17. Growth was driven by substantial expansion of Schiff’s private-label business and increased distribution of its branded products, the company said. Schiff’s net sales for the quarter (ended February 28, 2009) totaled $49.9 million, compared to $46.2 million from the same period in 2008.
Bruce Wood, president and CEO of Schiff, cited specialty and private-label supplements as bright spots in a dim economy. “We continue to be encouraged with the performance of our Schiff MegaRed Omega-3 Krill Oil product,” Wood said in a prepared statement. “Despite the extreme economic conditions generally, and the intense competitive climate in the supplements category, we have remained profitable and financially strong. We believe we have the resources to capitalize on MegaRed and other new growth opportunities and are well positioned to compete aggressively over the long term."
Schiff’s nine month sales of $145 million were up nearly 15% from the same period in 2008. Schiff’s share price was listed at $4.32 on March 17, up nearly 11% from its previous close. The company generated $177 million in revenues for the 2008 fiscal year ended May 31, 2008.
Related NBJ links:
Schiff Nutrition Announces 2nd Quarter Sales Growth
Schiff Nutrition Reports Strong Year-End Financials