In Brief: Perrigo
This article was originally published in The Rose Sheet
Executive Summary
Perrigo: Private-label company second quarter FY 1996 (ended Dec. 31) consolidated sales rose 15% to $201 mil. over the prior year period. The increase was driven by the acquisition of Vi-Jon Labs for $35 mil. in January 1994, according to Perrigo ("The Rose Sheet" Dec. 12, 1994 In Brief). Sales were slightly higher in the personal care segment, with a 17% increase in the quarter, the company said. Overall Perrigo net income was down 5.4% to $12.2 mil. compared to a year ago. For the six months, net sales rose 13.6% to $406.1 mil. while Perrigo's personal care business revenues increased 19%. Net income for the half dropped 11.8% to $24.4 mil. compared 1995. Separately, previous plans to consolidate Perrigo's three distribution centers into the Atlanta location by March ("The Rose Sheet" July 3, p. 9) have been delayed until FY 1997, the company said...