IGI
This article was originally published in The Rose Sheet
Executive Summary
Consumer products first half revenues dropped 16% "due largely to shifting of customer delivery schedules" that have an impact on when revenues are recorded, the company reported Sept. 4. IGI expects "to see an acceleration of orders from customers who needed to reduce their first half inventories" in the consumer division and an "evening out" of revenues by year's end. The firm's Novasome microencapsulation technology was incorporated in two Connie Stevens Forever Spring skin care products during the first half of the year. IGI also started receiving revenues from Johnson & Johnson's Roc and ph5.5 Novasome products during the same period. Overall, IGI net sales in the first half declined 12% to $15.7 mil. and 17.1% to $7.6 mil. in the second quarter. The company reported a net loss of $1.6 mil. through six months...