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Net Sales Up 24% for the Quarter for Physicians Formula
Posted: May 7, 2012
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Ingrid Jackel, Physicians Formula chairwoman and CEO, stated, "We are pleased with our first quarter results, which exceeded both our top and bottom line expectations. Net sales growth was driven by better than expected demand of our color cosmetics products, as well as the planned distribution expansion of our skin care platform. Through the successful execution of our product and brand investment strategies, we have expanded our market share of the masstige category and maintained our retail sales momentum. We have returned our company to profitability by generating strong product performance while improving our financial discipline. During the quarter, our retail partners made the decision to shift certain marketing programs to later in the year. Overall, we expect our total marketing and brand investments to remain at originally planned levels for 2012."
Regarding the fiscal outlook for the company, Jackel commented, "Due to our strong first quarter performance and the strength of our 2012 new color cosmetics product launch, we are increasing our expectations for net sales to grow between 8% and 11% for the full year 2012 from the 7% to 10% range we previously projected. Additionally, we expect earnings per diluted common share to be between $0.10 and $0.18 for the full year 2012 versus the $0.07 to $0.15 in our earlier projections."