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The Quigley Corporation Reports Second Quarter 2008 Results: Continues Investment in Pharmaceutical R&D Future
Date:7/31/2008

DOYLESTOWN, Pa., July 31 /PRNewswire-FirstCall/ -- The Quigley Corporation (Nasdaq: QGLY) today reported net sales from continuing operations of $2.1 million, for the second quarter ended June 30, 2008, compared to $2.2 million reported for the second quarter ended June 30, 2007. For the six months ended June 30, 2008, net sales were $7.4 million compared to $8.4 million reported for the six months ended June 30, 2007.

2008 net sales were influenced by distribution changes and the unusually slow start to the 2007/2008 cold season and fewer incidences of colds by consumers during much of the period. The second quarter and first six months of 2008 reflect these facts in that customer inventories remained higher than they desired, and although the cold season started to improve later in the season, it was too late to positively influence the first six months of 2008. Additionally, there was a favorable offset by a combined price increase and new products not present in the 2007 comparable periods amounting to approximately $300,000 and $1.0 million, respectively.

Loss from continuing operations for the second quarter and six months ended June 30, 2008 was $2.9 million, or ($0.22) per share, and $5.3 million, or ($0.42) per share, respectively as compared to $3.4 million, or ($0.27) per share, and $5.1 million, or ($0.40) per share, respectively for the same period in 2007.

Net loss for the second quarter and six months ended June 30, 2008 was $2.9 million, or ($0.22) per share, and $4.4 million or ($0.35) per share, respectively, compared to a net loss for the second quarter and six months ended June 30, 2007 of $3.5 million, or ($0.28) per share, and $5.4 million, or ($0.43) per share, respectively. The improvement in n
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