Chattem has reported an increase in total revenue by 4.4% to $121.8 million for the second quarter of fiscal 2009, as compared to $116.7 million in the prior year quarter.
The company reported an increase in net income by 17% to $24.2 million in the second quarter of fiscal 2009, as compared to a net income of $20.7 million in the corresponding quarter a year ago.
Zan Guerry, Chairman and CEO of Chattem, said: The strength of our business behind Gold Bond, ACT, Icy Hot, Cortizone-10 and Selsun Blue and the early success of the 2009 new product launches for these brands has continued to produce strong earnings and operating results. This earnings and cash flow growth has allowed us to manage our capital structure by reducing debt and repurchasing approximately 491,000 shares of our common stock in the first six months of fiscal 2009.
“The Company’s domestic business, representing 95% of our total revenues, achieved growth of 4.1% and 6.8% over the year ago six and three month periods, respectively, when excluding the discontinued Icy Hot Heat Therapy product from the first quarter of fiscal 2008, he added.