Irvington-based Prestige Brands Holdings Inc., which owns many well-known household brands in health care and cleaning products, reported flat earnings for its quarter ended June 30. Profit was steady at $14.7 million, or 29 cents a share.
Revenues, however, rose 54 percent to $147 million from $95 million a year ago. Prestige said the revenue growth was driven by its over-the-counter health care brands as well as the 17 brands it acquired from GlaxoSmithKline several months ago.
Revenues for that segment rose 77 percent from a year ago. Sales were strong for Clear Eyes, PediaCare, Little Remedies and Dramamine. That segment represents 86 percent of the company”™s total revenue. The household cleaning segment makes up the rest; revenues there fell 14 percent.
But while overall revenues rose, so did expenses. Advertising and promotion expenses doubled from a year ago.
Prestige reiterated that it expects to earn $1.22 to $1.32 a share this year.
