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Schiff Nutrition posts higher 3Q revenue, earnings

Published March 22, 2012 9:53 am

This is an archived article that was published on sltrib.com in 2012, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.

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.