LEE PHARMACEUTICALS NET REVENUES FLAT AT $13.8 MIL. IN FY 1993
This article was originally published in The Rose Sheet
Executive Summary
LEE PHARMACEUTICALS NET REVENUES FLAT AT $13.8 MIL. IN FY 1993 (ended Sept. 30), up .8%, the company announced Dec. 28. Gross revenues were down 12.5% to $15.1 mil. Net revenues are gross revenues minus returns and cash discounts. Lee attributed the decline to its "switch to popular-priced products," adding that unit sales were up. The company began selling Fancy Fingers in late 1990, a "popular-priced" line that replaced the "premium- priced" Lee Press-On Nails and Lee Natural Nail Care brands ("The Rose Sheet" June 10, 1991, p. 7).