Chattem Announces Stock Repurchase and Estimated Fiscal 2006 FAS 123R Expense.CHATTANOOGA, Tenn. -- Chattem, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CHTT) - a leading marketer and manufacturer of branded consumer products, announced that the Company has repurchased 275,000 shares of its common stock at an average cost of $36.84 per share, or $10.1 million in the aggregate during fiscal 2006 to date. A total of $19.9 million remains available under the Company's previously announced board authorization. The Company also announced that its adoption of FAS 123R is estimated to result in an expense, after tax, of approximately $2.8 to $3.4 million, or $0.14 - $0.17 per share, in fiscal 2006. This estimate is subject to final review prior to the filing of the Company's Form 10-Q Form 10-Q See 10-Q. for the first quarter of fiscal 2006. The Company expects total revenues for fiscal 2006 to be in the range of $315 - $330 million and earnings per share for fiscal 2006 to be in the range of $2.30 - $2.40, excluding the estimated $0.14 - $0.17 per share impact of adopting FAS 123R. Chattem, Inc. is a leading marketer and manufacturer of a broad portfolio of branded OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). healthcare products, toiletries toi·let·ry n. pl. toi·let·ries An article, such as toothpaste or a hairbrush, used in personal grooming or dressing. toiletries npl → artículos mpl de aseo (= and dietary supplements. The Company's products target niche market A niche market also known as a target market is a focused, targetable portion (subset) of a market sector. By definition, then, a business that focuses on a niche market is addressing a need for a product or service that is not being addressed by mainstream providers. segments and are among the market leaders in their respective categories across food, drug and mass merchandisers. The Company's portfolio of products includes well-recognized brands such as Icy Hot(R), Gold Bond(R), Selsun Blue(R), Garlique(R), Pamprin(R) and BullFrog bullfrog, common name of the largest North American frog, Rana catesbeiana. Native to the E United States, this species has been successfully introduced in the West and in other parts of the world. The body length is 4 to 8 in. (R). Chattem conducts a portion of its global business through subsidiaries in the United Kingdom, Ireland and Canada. For more information, please visit the Company's website: www.chattem.com. Statements in this press release which are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These forward-looking statements involve risks, uncertainties and assumptions that could cause actual outcomes and results to differ materially from those expressed or projected. |
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