Matrixx Initiatives, Inc. Announces Fiscal 2008 Revenue of $101 Million and Net Income Growth of 59% to $10.4 Million, or $1.04 Earnings Per Share Versus $0.66 in the ...( Zicam(R) retail consumer sales incre...),Health

Zicam(R) retail consumer sales increased 25% for the 12 weeks ended March

23, 2008

SCOTTSDALE, Ariz., May 12 /PRNewswire-FirstCall/ -- Matrixx Initiatives, Inc. (Nasdaq: MTXX), an over-the-counter healthcare company that develops and markets products that provide consumers with "better ways to get better(R)," today announced its financial results for the fourth quarter and fiscal year ended March 31, 2008.

For the fourth quarter ended March 31, 2008, the Company reported net sales of $33.0 million, a 73% increase above net sales of $19.0 million in the quarter ended March 31, 2007. Net income increased to approximately $5.7 million, or $0.59 per diluted share, compared to net income of approximately $1.7 million, or $0.17 per diluted share, in the prior year's quarter.

For the fiscal year ended March 31, 2008, net sales increased approximately 3%, to $101.0 million, compared to net sales of $97.6 million for the twelve months ended March 31, 2007. Additionally, net income increased approximately 59%, to $10.4 million, or $1.04 per diluted share, compared to net income of approximately $6.5 million, or $0.66 per diluted share, in the twelve months ended March 31, 2007.

Carl Johnson, President and Chief Executive Officer, said, "We are pleased to announce fiscal 2008 net sales exceeded $100 million and our Zicam(R) brand's growth continued to outpace the cough and cold category as a whole. Fiscal 2008 was challenging due to an unusually slow start to the cold and flu season and tightening inventory management practices by certain of our large customers. The cold and flu season did eventually arrive and we realized strong brand momentum during the second half of the cold season. Zi
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