RONKONKOMA, N.Y., April 24 /PRNewswire-FirstCall/ -- NBTY, Inc. (NYSE: NTY) (http://www.NBTY.com), a leading global manufacturer and marketer of nutritional supplements, today announced results for the fiscal second quarter and first six months ended March 31, 2008.
For the fiscal second quarter ended March 31, 2008, net sales were $533 million compared to $508 million for the fiscal second quarter ended March 31, 2007, an increase of $24 million or 5%.
Net income for the fiscal second quarter ended March 31, 2008 was $44 million, or $0.67 per diluted share, compared to $57 million, or $0.83 per diluted share, for the fiscal second quarter ended March 31, 2007. The decrease in net income reflects the decrease in overall gross profit from 53% to 51% and higher advertising and selling, general and administrative costs incurred in the fiscal second quarter.
Adjusted EBITDA for the fiscal second quarter ended March 31, 2008 was $84 million compared to $100 million for the prior like quarter. At March 31, 2008, NBTY had total assets of $1.5 billion and working capital of $494 million. The Company is committed to using its cash and leverage to increase shareholder value through investments in infrastructure, opportunistic acquisitions and stock repurchases. During the quarter, $8 million in short term municipal auction rate securities were reclassified into Other Assets to reflect the lack of liquidity.
Net sales for the six months ended March 31, 2008 increased 3% to $1.043 billion.
Net income for the six months ended March 31, 2008 was $90 million, or $1.34 per diluted share, compared to $108 million, or $1.56 per diluted share, for the six months ended March 31, 2007. The decrease in net income reflects higher advertising and SG&A costs.
Adjusted EBITDA for the six months ended March 31, 2008 was $171
million compared to $196 million for the six months ended March 31, 2007.
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