USA: Weider says Q4 losses increase on unusual items
Salt Lake City-based Weider Nutrition International, developer, manufacturer and marketer of vitamins and nutritional supplements, has posted net sales of US$79.4m for its Q4 ended 31 May, a fall from US$89.9m year on year. Weider reported a net loss of US$4.6m, US$0.17 per share, for the Q4 2002, compared to a net loss of US$844,000, US$0.03 per share, for the same period a year ago. Unusual charges during the Q4 2002 included a US$9m pre-tax loss for the impairment of assets associated with the sale of the American Body Building and Science Foods brands, and a US$1.8m write-off of previously capitalised financing fees. During the Q4 2001, unusual, non-cash charges included a US$2.2m pre-tax loss on the impairment of certain available-for-sale securities. Excluding these unusual items, Weider's net income per share was US$0.07 and US$0.02, respectively, for the Q4 of FY 2002 and 2001.
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