Chattem Inc. reported its adjusted net income for the first quarter of fiscal 2008 year was $20 million, and earnings per share were $1.01 surpassing forecasts of 95 cents per share.
The company based in Chattanooga, Tennessee said total revenues for the first quarter were $120.8 million representing an increase of 19.8 percent from the previous year. The report surpassed analysts forecasts surveyed by Reuters that expected the company will earn $116.6 million.
Chattem's net profit was of $14.9 million or 75 cents a share compared with $13.7 million or 71 cents in the same period in 2007.
This momentum was fueled by our Big 6 brands, Gold Bond, Icy Hot, ACT, Cortizone-10, Selsun and Unisom, and an additional month of revenue from the brands acquired on January 2, 2007 from Johnson & Johnson said Zan Guerry, Chattem's Chairman and Chief Executive Officer.
Chattem is a leading company that produces and sells branded consumer products. For fiscal 2008 it expects earnings ranging up from $4 to $4.2 a share.
Shares of Chattem closed Monday at $67.75 in Nasdaq.