Chattem Inc.'s (CHTT) fiscal fourth-quarter net income tripled to $14.8 million, or 76 cents a share, from $4.91 million, or 26 cents a share, the previous year, due in part to strong performance from its Gold Bond and Icy Hot brands.
Excluding an employee stock option expense, earnings were 81 cents a share, up from 32 cents a share the prior year. On average, analysts polled by Thomson Financial expected earnings of 65 cents a share. Analysts estimates usually exclude items.
The Chattanooga, Tenn., maker of over-the-counter healthcare products, toiletries and dietary supplements said revenue increased 55% to $100.6 million from $65.1 million a year ago. Chattem said it now sees fiscal 2008 earnings of $4 to $4.20 a share, excluding items. Previously, the company projected earnings of $3.90 to $4.10 a share.
The stock is up over 7 dollars to $75 on the news.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment