BOCA RATON, Fla., Aug. 5 /PRNewswire/ -- Rexall Sundown, Inc.
(Nasdaq: RXSD) today announced that the company remains confident regarding
its outlook for the fiscal year ending August 31, 1998.
Rexall Sundown's Chief Executive Officer, Chris Nast, said, "Based on the
information available to date, we remain on track to deliver record revenues
and record earnings for the fiscal year to finish what has been a banner year
for our company."
Mr. Nast continued, "Thus far, our year-over-year growth has outpaced that
of the industry, establishing Rexall Sundown as the leader in the category.
Industry trends remain positive and our products continue to be well received
by consumers and retailers alike reinforcing our confidence in the future."
Mr. Nast also noted that the Company's stock price experienced a decline
yesterday, along with other companies in the vitamin industry. "We believe
that the reason for the decline was related to comments made regarding pricing
dynamics in the health food channel of distribution. In our judgment, this
event in no way impacts negatively on the growth prospects of the vitamin and
nutritional supplement industry or on the basic, inherent strength of Rexall
Sundown. Our current and future position as the leader in the vitamin and
nutritional supplement industry remains unchanged," Mr. Nast concluded.
For the first nine months of fiscal 1998, the Company reported revenues of
$377.2 million, an 87% increase over the same period in fiscal 1997. Diluted
earnings per share increased 78% to $0.66 per share, based on 73.6 million
weighted average common shares outstanding, from $0.37 per share, based on
69.7 million weighted average shares outstanding, in the first nine months of
the prior year.
Rexall Sundown, Inc., develops, manufactures and distributes vitamins,
nutritional supplements and other consumer health products in the United
States and internationally. Visit the Rexall Sundown website at
http://www.rexallsundown.com.
This Press Release may contain "forward-looking statements" as such term
is defined in the Private Securities Litigation Reform Act of 1995 or by the
Securities and Exchange Commission in its rules, regulations and releases,
which represents the Company's interpretation or beliefs. These forward-
looking statements, by their nature, involve substantial risks and
uncertainties, certain of which may be beyond the Company's control and actual
results may differ materially depending on a variety of important factors
including uncertainties related to acquisitions, government regulation,
managing and maintaining growth, the effect of adverse publicity, reliance on
independent distributors of Rexall Showcase, competition and other factors
described in the Company's filings with the Securities and Exchange
Commission.
To receive additional information on Rexall Sundown, Inc., via fax, at no
charge, dial 1-800-PRO-INFO and enter code RXSD.
SOURCE Rexall Sundown, Inc.
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Related links:
http://www.rexallsundown.com
CONTACT:
Geary Cotton, Chief Financial Officer of
Rexall Sundown, 561-241-9400, or General, Karen Griffiths, or
Analyst, Lynn Sawyer-Landau, 212-661-8030, both of The Financial
Relations Board
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