GUMM - Eliminate the Common Cold Message Board

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Biotech / Medical : GUMM - Eliminate the Common Cold

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To: Street Walker who started this subject	7/1/2004 5:21:15 PM
From: Frank_Ching	of 5582

UPDATE - Matrixx Initiatives warns of wider loss Thursday July 1, 4:56 pm ET (Adds details on estimates) CHICAGO, July 1 (Reuters) - Matrixx Initiatives Inc. (NasdaqNM:MTXX - News), which makes over-the-counter drugs, warned on Thursday it expects to post a second-quarter loss, blaming an early end to the cold season. The company said it expects to post a second-quarter loss between 8 cents and 12 cents per share, compared with a loss of 6 cents per share a year earlier. Wall Street analysts polled by Reuters Estimates saw the company reporting a loss of 11 cents per share in the second quarter. The Phoenix-based company said net sales in the second quarter would be flat, or up to 10 percent greater than the second quarter in 2003. A "sudden and dramatic end" to the 2004 cold season experienced in the first quarter led to a 33 percent drop in the incidence of colds from the prior first quarter, the company said. The company also said legal expenses from product liability lawsuits will hurt the results it reports. Matrixx affirmed its estimate for full year 2004 of a 30 percent jump in net sales from 2003, and an equal or better improvement for net income.

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