Schiff branded sales grow behind Mega-D3 launch
This article was originally published in The Tan Sheet
Executive Summary
The Schiff Mega-D3 supplement, combining vitamin D3 and resveratrol, rolls out to retail as the Salt Lake City firm reports continued strong sales of branded products, particularly its MegaRed Krill Oil. However, softness in the joint care category hit Schiff Nutrition International's Move Free supplements and its private label business continued to struggle during the firm's fiscal 2011 first quarter, Schiff reported Sept. 14. Though net sales rose 5.9 percent to $51.4 million during the June-August period, net income dipped 16 percent to $3.7 million. Schiff CEO Bruce Wood said higher consumer advertising spending caused selling and marketing expenses to jump 40 percent to $9.3 million. The firm also announced a 70 cents-per-share special cash dividend to be paid Oct. 26 to shareholders as of Sept. 23