Apr 7, 2009
Chattem Q1 misses Street; narrows FY09 earnings view
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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