Revenue dips, income rises at Prestige

Prestige Brands Inc., the Irvington marketer of over-the-counter health care, household and personal care brands, reported net revenues from continuing operations of $75.4 million for its third fiscal quarter that ended Dec. 31, 2009, down 3 percent from the previous year.

The company divested its Denorex, Prell and Zincon shampoo brands in October.

Third-quarter net income was $10.3 million, a 34 percent increase from net income of $7.7 million in the third quarter of 2008. Earnings per share from continuing operations were 21 cents in the recent third quarter compared to 15 cents the previous year.

Operating income for the third fiscal quarter was $23.7 million, a 22 percent year-over-year increase. The company said the increase was due in part to decreased advertising and promotional spending after the 2008 marketing campaign for its new Allergen Block products.

Matthew Mannelly, Prestige Brands president and CEO said, “We are pleased with our improved profitability and continue to work to drive revenue in this challenging economy. We are increasing our focus on supporting our core brands.”

The company”™s key brands include Chloraseptic sore throat treatment, Compound W wart remover, New-Skin liquid bandage, Clear Eyes and Murine eye and ear care products, Little Remedies pediatric over-the-counter products, Cutex nail polish remover and Comet and Spic and Span household cleaners.