NBTY Reports 45% Sales Increase for FY97

BOHEMIA, NY—NBTY Inc. (NBTY) announced that sales increased 45% to $281 million in its fiscal year ended Sept. 30, compared with $194 million in 1996. Net income was $17.2 million or $.86/share, after $8.1 million of one-time, nonrecurring charges, compared with $13.4 million or $.67/share in 1996. The charges incurred included litigation settlement costs and interest rate hedge in conjunction with its acquisition of Holland & Barrett (H&B).

Sales for the 4Q rose 85% to $97.3 million. The 415-store H&B chain contributed $23.7 million to sales. The company currently has 175 of its own products in the H&B stores, which NBTY purchased in August for $169 million. The full NBTY line will be available in H&B stores by June 1998.

Sales from the company’s U.S. stores, Vitamin World, were up 93% for the FY. Sales from mail order increased 32%, and sales from wholesale increased 18% from the prior FY.

Scott Rudolph, chairman and CEO said NBTY will construct a state-of-the-art manufacturing facility for soft-gel products, which will enhance the company’s vertical integration program.