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Maker of COLD-EEZE reports second quarter results.
2004 SEP 1 - (NewsRx.com & NewsRx.net) -- The Quigley Corporation (Nasdaq: QGLY) reported net sales of $6.9 million for the second quarter of 2004, compared to $7.0 million reported for the same period in 2003.
For the 6-months ended June 30, 2004, net sales were $16.5 million, compared to $15.2 million in 2003.
Net sales of the company's cold remedy segment were relatively unchanged for the second quarter of 2004 as compared to 2003. Net sales of the health and wellness segment decreased 2.0% during the quarter, due to a decline in the number of active domestic independent representatives, which was partially offset by an increase in European sales as compared to 2003.
The increase in net sales for the 6 months reflects a 17.9% increase in the company's cold remedy segment and a 4.3% increase in the health and wellness segment. The company's cold remedy net sales increased for the 6-months, as a result of continued strategic advertising, marketing initiatives, and new products. The company's health and wellness revenues for the 6-months increased as distribution continues to expand internationally.
Net loss for the second quarter ended June 30, 2004, was $900,000, or ($0.08) per share, compared to a net loss of $1.1 million, or ($0.09) per share, for the same period last year. Net loss for the 6-months ended June 30, 2004, was $1.7 million, or ($0.15) per share, compared to a net loss of $2.0 million, or ($0.17) per share, for the same period last year.
Net loss for the 6-months ended June 30, 2004, and 2003, is principally attributed to research and development costs of $1.8 million and $1.4 million, respectively.
Net loss for the quarter ended June 30, 2004, improved as compared with the same period last year, driven by savings in administrative costs, which were primarily offset by increased research and development costs associated with Quigley Pharma. Net loss ...
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