Twinlab Corporation Reports 1999 First Quarter Results.HAUPPAUGE Hauppauge can refer to:
Income not necessarily calculated in accordance with generally accepted accounting principles. For example, a company might report pro forma earnings that exclude depreciation expense and nonrecurring expenses such as restructuring costs. per share of $0.27 for the to suffer from the slowdown For articles with similar titles, see Slow Down (disambiguation). A slowdown is an industrial action in which employees perform their duties but seek to reduce productivity or efficiency in their performance of these duties. in sales of nutritel. Gross profit margin Gross profit margin Gross profit divided by sales, which is equal to each sales dollar left over after paying for the cost of goods sold. gross profit margin A measure calculated by dividing gross profit by net sales. before the effect of the labeling program was approximately the same as during the comparable period last year. However, also as expected, operatass market and health and natural food store channels. In addition, the herbal herbal, early botanical book containing descriptions and illustrations of herbs and plants with their properties, chiefly those qualities that made them useful as medicines or condiments. Most of the herbals were written between c.1470 and c. category cycled against a parsales and marketing activities in the second quary 25, 1999. Twinlab Twinlab Corporation is an American company that manufactures and markets vitamins, minerals, and bodybuilding supplements. It was originally founded by David and Jean Blechman in 1968 and run by them and their sons – Neil, Brian, Ross, Steve and Dean. Corporation, headquaupplements through its TWINLAB Division; a full ales subsidiary, Changes International; a line ough its PR*Nutrition. subsidiary. Twinlab Corpt for historical information contained herein, this release contains, within the meaning of the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions 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, forward- looking statements that are based on management's belisks and uncertainties and therefore actual resuns on future financing, customer demands, as well as other risks and uncertainties that are described from time to time in the Company's filings with the Securities and Exchange Commission, copies of which are available upon request from the Company's investor relations Investor relations The process by which the corporation communicates with its investors. department. (Tables to follow) -0-
TWINLAB CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
FOR THE THREE MONTHS ENDED MARCH 31st, 1999 and 1998
(In thousands except perher (expense) income:
Interest income 1,322) (3,078)
Income before provision for
income taxes 2,792 12,733
Provision for income taxes 1,110 4,472
Net income $1,682 $ 8,261
Basic net income per share $0.05 $ 0.29
Diluted net income per share $0.05(1) $0.29
Weighted average common shares used
in computing basic
income per share 32,697 Diluted net income per share
$ 0.27
(1) 1999 first quarter results include a one-time charge of $1.7
million ($1.0 million after tax, or $0.03 per s$ 12,489 $ 8,045
Accounts receivable, net 4,836 2,976
Total Current Assets 158,836 149,934 100,120
Property, plant and equipment, net 35,793 29,551 14,376
Deferred tax assets 44,071 45,347 47,740
Other assets 66,156 65,186 22,442
Total $304,856 $290,018 $184,678
Liabilities and Shareholders' Equity
Current Liabilities:
Current portion of
long-term debt $ 15,590 $ 80 $ 10,174
Accounts payable 21,679 30,959 20,835
Accrued expenses and other
current liabilities 10,751 10,043 15,024
Total Current Liabilities 48,020 41,082 46,033
Long term debt, less current portion 50,938 43,451 100,259
Total Liabilities 98,958 84,533 146,292
Shareholders' Equity 205,898 205,485 38,386
Total $304,856 $290,018 $184,678
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