Ascendia releases third-quarter results; credits Coty deal with increased sales
HAMILTON, N.J. Ascendia Brands, which markets value and premium value health and beauty care products, has announced that third-quarter sales benefited from the Calgon and Healing Garden brands it acquired from Coty in February 2007.
Consolidated sales for the 13 weeks ended Nov. 24 rose by $32.7 million, or 133.1 percent, to $57.2 million. Calgon and the Healing Garden brands contributed $34.4 million to current net sales. Excluding the impact of the acquisition, net sales slipped by $1.7 million.
Consolidated gross profit rose by $4.9 million to $8.6 million for the 13 weeks ended Nov. 24, compared with $3.7 million for the year-ago period. The gross profit was favorably impacted by the acquired Coty brands, with contributed $6.2 million to the current quarter. Gross margins on the previously owned brands were unfavorably impacted by higher trade promotional spending.
Prior to the Coty acquisition, Ascendia Brands expanded its range of product offerings in November 2005 through the acquisition of several brands including Baby Magic, Binaca, Mr. Bubble and Ogilvie.