Lee Pharmaceuticals Announces First Quarter Results
LOS ANGELES, Feb. 11 /PRNewswire/ -- Lee Pharmaceuticals
(OTC Bulletin Board: LPHM) reported results for the first quarter ended
December 31, 1999. The Company reported a net profit of $18,000 for the three
months ended December 31, 1999. The net profit of $18,000 is compared to the
net loss of $515,000 for the three months ended December 31, 1998. The net
loss of $515,000 includes an extraordinary loss of $374,000.
Lee Pharmaceuticals reported a 19% increase in the first quarter gross
revenues, from $2,133,000 in the quarter ended December 31, 1998, to
$2,537,000 in the quarter ended December 31, 1999. The increase in gross
revenues was due to the added volume generated from the Lee(R) Lip-Ex(TM) lip
balm line plus the recently acquired brands such as: Take-Off(R), Lady
Esther(R), and seven items purchased from Numark Laboratories, Inc. The
increase in gross revenues was partially offset by the reduced sales of the
nail category products, certain over-the-counter items and depilatories. |
