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Net Sales Slip at Physicians Formula

November 30, -0001

Physicians Formula’s net sales for the first quarter of 2009 dropped almost 50% to $20.2 million, compared to the same period in 2008.

Ingrid Jackel, company chairwoman and chief executive officer, stated, “During the first quarter, we experienced a significant disconnect between our reported net sales and our retail sell-through due to the current environment. Sell-through of Physicians Formula at our retailer partners only experienced a mid single-digit decline in the first quarter of 2009. As anticipated, our results during the first quarter were adversely impacted by drastic changes in the retail environment compared to last year.