Schiff Nutrition posts higher 3Q revenue, earnings
Utah's Schiff Nutrition International said its sales for the third quarter of its 2012 fiscal year grew 25 percent, the result of a strong marketing campaign and the introduction of a number of new products.
The Salt Lake City-based company, whose third quarter ended Feb. 29, said revenue for the period reached $72.2 million, up from $57.7 million in the same quarter a year ago.
Those revenues helped Schiff post net income of $4.6 million for the quarter, or 16 cents per share, compared with the net income of $4 million, or 14 cents per share, for the same period in fiscal 2011.
"We are positioning Schiff for long-term growth," Tarang Amin, president and CEO, said in a statement announcing the company's latest financial results.
"Our sales and gross margins continue to benefit from our investments in brand building."
Schiff markets nutritional supplements under a variety of brands.
For the first nine months of fiscal 2012, sales reached $191.5 million compared with $161.8 million for the same period in the previous fiscal year, Amin said.