Reuters
Apr 7, 2009
Chattem Q1 misses Street; narrows FY09 earnings view
Reuters
Apr 7, 2009
April 7 (Reuters) - Consumer-goods maker Chattem Inc (CHTT.O) reported quarterly results below market estimates, hurt by a 45 percent drop in international revenue, and lowered the upper end of its earnings outlook for the current financial year.
![]() Chattem cosmetics and toiletries |
For the first quarter ended Feb. 28, the company's net income was $19.6 million, or 99 cents a share, compared with 14.9 million, or 75 cents a share, a year ago.
According to Reuters Estimates, the company earned $1.02 a share, excluding loss on early extinguishment of debt, missing analysts' average estimate of $1.13 a share.
Chattem, which makes and sells over-the-counter drugs, toiletries, cosmetics and dietary supplements, expects to earn $4.80 to $4.90 a share, excluding items, in fiscal 2009.
Shares of the company, whose brands include skin care powder Gold Bond and pain relief product Icy Hot rose, fell 9 percent to $47.98 before the bell. They closed at $52.80 Monday on Nasdaq. (Reporting by Poojya Trivedi in Bangalore; Editing by Himani Sarkar)
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