Schiff Nutrition said sales were $45 million for the third quarter of fiscal 2007, compared to the $49.6 million recorded in the same period in fiscal 2006.
Bruce Wood, president and CEO, said: “We experienced very intense competitive conditions during the third quarter, with incremental promotion spending contributing to the net sales decrease versus the prior year quarter. A decline in branded sales was partially offset by strength in our private label business. While the sales decrease resulted in a reduction in gross margin dollars, we are encouraged by the continued improvement in gross profit percentage.”
Mr Wood added: “We remain confident in the long term prospects for our Schiff branded business, despite the difficult sales comparatives for the third quarter and the ongoing competitive conditions. We expect to continue our investment behind the Schiff business, with emphasis on our Move Free brand. We plan to leverage our strong financial position in this regard, as we look ahead to fiscal 2008.”
Schiff Nutrition International develops, manufactures, markets and distributes branded and private label vitamins, nutritional supplements and nutrition bars in the US and throughout the world.