Chattem reports record growth in 2008
US manufacturer Chattem has announced its total revenues for fiscal 2008 reached $454.9m, an increase of 7.4% on the previous year. Total revenues for the fourth quarter were reported at $105.5m, a 4.9% on the same period in 2007. Net income for the fiscal year increased to a record $66.3m.
US manufacturer Chattem has announced its total revenues for fiscal 2008 reached $454.9m, an increase of 7.4% on the previous year. Total revenues for the fourth quarter were reported at $105.5m, a 4.9% on the same period in 2007. Net income for the fiscal year increased to a record $66.3m.
Growth has been attributed to the acquisition of the ACT, Cortizone-10, Unisom, Balmex and Kaopectate brands from Johnson & Johnson at the beginning of 2007, as well as the continued growth of its Gold Bond, Icy Hot, Aspercreme and Bullfrog businesses.
As a result of the growth Chattem has affirmed its fiscal earnings in 2009 with an earnings per share guidance of $4.80 to $5.00 per share.
“We expect fiscal 2009 to be another exciting year behind a strong line-up of new product launches, coupled with advertising support to continue the momentum of business,” said Zan Guerry, chairman and ceo, Chattem.