GUMM - Eliminate the Common Cold Message Board

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Biotech / Medical : GUMM - Eliminate the Common Cold

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To: Mad2 who wrote (5136)	10/14/2004 10:03:40 AM
From: Frank_Ching	of 5582

Form 8-K for QUIGLEY CORP 13-Oct-2004 Material Impairment ITEM 2.06 MATERIAL IMPAIRMENTS. On September 13, 2004, The Quigley Corporation (the "Company") notified its customers of its decision to discontinue the Cold-EEZE(R) Cold Remedy Nasal Spray product within our line of cold remedy products. The decision was made because the product has not developed into a viable entry in the nasal spray cold remedy category. Since its launch approximately one year ago, the product has not met either the Company's sales expectations or its return on investment projections. Based on the Company's preliminary estimates, the discontinuation of the nasal spray product will result in an approximately $422,000 write-off of inventory and an approximately $974,000 charge to net sales resulting from anticipated customer returns of the product. As a result of all charges, the Company's results for the third quarter will be adversely impacted by approximately $1,361,000. At this time, the Company does not anticipate any additional future charges. Add QGLY to Portfolio Set Alert Email to a Friend Get SEC Filings for Another Symbol: Symbol Lookup Quotes & Info for QGLY - All Recent SEC Filings

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