Physicians Formula posts double-digit Q1 sales gains

AZUSA, Calif. Physicians Formula posted double-digit sales gains for the first quarter, reflecting solid sales of its new Mineral Wear and Organic wear lines.

Sales for the quarter ended March 31 totaled $42.7 million, up 19.6 percent from $35.7 million in the year-ago period. Net income totaled $5 million, or 34 cents per share, compared with $4.3 million, or 30 cents per share, in the year-ago period.

“We are very pleased with our strong first quarter net sales, which reflect the demand by our retail partners for existing products as well as the new products that form the foundation of the company’s 2008 strategic initiatives. These include our new Organic wear line,” stated Ingrid Jackel, chairwoman and chief executive officer of Physicians Formula. “Late in the quarter, we began our advertising, promotion and public relations activities to support our new products initiatives and we remain optimistic about their consumer appeal.”

The company reiterated its full-year 2008 outlook and continues to expect net sales of between $123 million and $125 million, representing and increase of between 10 percent and 12 percent over 2007. Net income per diluted common share is expected to be between 65 cents and 69 cents, representing an increase between 8 percent and 15 percent over 2007.

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