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 ...(y affected by our full utilizationof pri...),Health

Date:5/12/2008

y affected by our full utilization of prior year's tax carryforwards for charitable donations, tax loss carryforwards, and other tax credits, resulting in a lower effective tax rate of approximately 37%, versus our statutory rate of approximately 39%. Our balance sheet improved during the quarter and year ended March 31, 2008. We experienced strong cash generation during the quarter and ended the year with $27.9 million in cash, compared to $16.9 million at March 31, 2007. In addition, we repurchased approximately 494,000 shares of the Company's stock during fiscal 2008. We improved our production schedules during this cold season and ended the year with $11.5 million in inventory, compared to $15.5 million at March 31, 2007."

There will be a teleconference Tuesday, May 13, 2008 at 11:00 a.m. EDT to discuss fourth quarter and fiscal 2008 financial results. To access the teleconference, please call (877) 863-5191 (domestic) or (706) 643-6826 (international), access number 46849571. To listen to the teleconference via the Internet, go to http://www.matrixxinc.com and click on the transition quarter financial results teleconference icon. A replay of the call will be available at (800) 642-1687 (domestic) or (706) 645-9291 (international), access number 46849571 for 3 days following the call, and the web cast will be archived on the company's website, http://www.matrixxinc.com, for 30 days.

Matrixx Initiatives, Inc.

(Unaudited)

Three Months Ended Twelve Months Ended

March 31, March 31,

($000s) 2008 2007 2008 2007

Net Sales $33,022 $19,046 $100,972 $97,601

Cost
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SOURCE Matrixx Initiatives, Inc. Copyright©2008 PR Newswire. All rights reserved

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