Fiscal 2009 operating margin increased from 16% to 20% in fiscal 2009
SCOTTSDALE, Ariz., May 11 /PRNewswire-FirstCall/ -- Matrixx Initiatives, Inc. (Nasdaq: MTXX), an over-the-counter healthcare company that develops and markets Zicam(R) products that provide consumers with "better ways to get better(R)," today announced financial results for its fourth quarter and fiscal year ended March 31, 2009.
For the fiscal year ended March 31, 2009, net sales increased approximately 11%, to $111.6 million, compared to net sales of $101.0 million for the twelve months ended March 31, 2008. Additionally, net income increased approximately 33%, to $13.9 million, or $1.46 per diluted share, compared to net income of approximately $10.4 million, or $1.04 per diluted share, for the twelve months ended March 31, 2008.
For the fourth quarter ended March 31, 2009, the Company reported net sales of $30.8 million, versus net sales of $33.0 million in the quarter ended March 31, 2008. Net income decreased to approximately $3.1 million, or $0.33 per diluted share, compared to net income of approximately $5.7 million, or $0.59 per diluted share, in the prior year's fourth quarter. The decrease in net sales of $2.2 million was partially offset by the increase in gross margin from 67% in the quarter ended March 31, 2008, to 74% in the quarter ended March 31, 2009. Net income in the fourth quarter of fiscal 2009 was impacted by $4 million of higher marketing expense compared to the prior year; $3 million of the increase was a planned shift in spending from our fiscal third to fourth quarter.
Bill Hemelt, Acting President and Chief Operating Officer, said, "In fiscal 2009, Matrixx produced strong results despite an unusually weak cold season and declining economic environment. The 11% increase in fiscal
|SOURCE Matrixx Initiatives, Inc.|
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