I was surprised to see no posts this weekend, after ENML's news at Friday's close. Any thoughts?
* ENAMELON INC expects 2Q results to surpass sales targets and
meet Wall Street loss estimates, bringing a smile to the face of
its chairman and founder, Stephen Fox. "We're ramping up," he told
Reuters. "We're showing a lot of progress. Fox said the company
would meet First Call's consensus estimate of a loss of $1.04 per
diluted share for the quarter. He also said it would come out with
at least 10% higher sales than the $2 mln target set earlier this
year for the quarter. (Reuters 02:18 PM ET 07/31/98) ***AND***
03:28 PM ET 07/31/98
INTERVIEW - Enamelon to meet =2
The Yonkers, N.Y., company, which is scheduled to report
its results after the market's close on Aug. 3, is an upstart
company that has been aggressively promoting a toothpaste that
Enamelon says strengthens tooth enamel.
Its stock was 3/16 higher at 5-1/4 late Friday afternoon in
trading on the Nasdaq market, slightly above a year low of
4-3/4.
Last month, Enamelon had foreseen sales falling below $2
million in the second quarter because retailers were hesitant
about making major inventory commitments to its toothpaste.
The company registered a loss of $0.38 per share for the
same period a year ago, when it was still in the development
stage.
Fox said the company outperformed its sales forecast
because of the success of a promotional campaign begun in May.
"I think people are finding out about the therapeutic
claim," he said.
Enamelon has been promoting the toothpaste of the same name
through free samples, discount coupons and television
commercials. The product was launched in January.
Citing statistics from AC Nielsen, Fox said the volume of
toothpaste units shipped rose more than 50 percent in food
chains and 33 percent in drug stores between May 16 and July
11.
He said the product snagged a 2.4 percent share of the
toothpaste market in food chains where it had more than a 70
percent distribution between May 16 and July 11.
In drug chain stores where it has more than 80 percent
distribution, it had a 2 percent share, he said.
AC Nielsen monitors trends in consumer products, among
other things.
Fox said the company planned to launch a chewing gum and a
whitening toothpaste by next spring in order to widen exposure
for its brand name.
"If you have more shelf space where people can see you,"
sales should improve, he said.
Enamelon was also developing a desensitizing toothpaste, he
said.
((-- New York newsroom, +212 859 1610)) |
