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Matrixx Initiatives, Inc. Updates 2007/2008 Cold Season Trends and Fiscal 2008 Sales and Earnings Outlook
Date:1/16/2008

PHOENIX, Jan. 16 /PRNewswire-FirstCall/ -- Matrixx Initiatives, Inc. (Nasdaq: MTXX), an over-the-counter healthcare company, announced today that the season-to-date incidence of illness for the 2007/2008 cold season (which generally runs October through March) has been the lowest since Zicam was introduced in 1999 according to the industry standard tracking service (SDI FAN). The lower level incidence of colds in the general population has affected the amount of reorders the Company received in the quarter ended December 31, 2007. The Company anticipates reporting sales for the quarter ended December 31, 2007 below the comparative quarter in the prior year, and net loss and loss per share will be on par with the prior year's quarter.

Although the most recent tracking data is showing an uptick in the incidence of illness, the Company is updating its previously issued guidance for fiscal 2008 (ending March 31, 2008). If the cold season continues in accordance with the current trend, the Company anticipates fiscal 2008 net sales will be equal to or up to 5% above the $97.6 million recorded in the twelve months ended March 31, 2007. Based on the updated level of sales, the Company expects to report net income between $9.0 million and $10.0 million, or $0.90 to $1.00 per share. The Company's previously issued fiscal 2008 guidance anticipated net sales would increase 5-15% over the $97.6 million recorded for the trailing twelve months ended March 31, 2007 and net income would be in the range of $9.3 million to $10.8 million

Carl Johnson, President and Chief Executive Officer, said, "Although the slow start to the cold season requires us to reduce our annual guidance, Zicam grew to be the 5th largest cough and cold brand at retail
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SOURCE Matrixx Initiatives, Inc.
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