Prestige Brands: Fiscal 1Q Earnings Snapshot
TARRYTOWN, N.Y. (AP) _ Prestige Brands Holdings Inc. (PBH) on Thursday reported fiscal first-quarter net income of $34.5 million.
The Tarrytown, New York-based company said it had profit of 65 cents per share. Earnings, adjusted for non-recurring costs, were 68 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 66 cents per share.
The medicine distributor posted revenue of $254 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $253.3 million.
Prestige Brands expects full-year earnings in the range of $2.84 to $2.92 per share, with revenue in the range of $985 million to $995 million.
Prestige Brands shares have dropped 21 percent since the beginning of the year. The stock has fallen 33 percent in the last 12 months.