11.01.00
USA Detergents, Inc., North Brunswick, NJ, today reported net income increased to $1.4 million for the third quarter ended September 30, 2000, compared to a net loss of ($0.8) million a year ago. For the first nine months of fiscal 2000, net income was $2.3 million, up from $1.4 million or $.10 per diluted share in the same period last year.
"Management's continued emphasis on profitability resulted in improved operating income and earnings for the quarter," said Charles LaRosa, president and chief operating officer of USA Detergents. "We achieved these results through growth of our base business while realizing efficiencies in direct labor, and selling, general and administrative expenses and efficiently managing our trade spending. These actions more than offset the impact of higher commodity costs and increased fuel costs on our shipping expenses."
Net sales increased 4.9% to $63.7 million for the third quarter of 2000. For the nine-month period of 2000, net sales increased 5.9% to $189.5 million from $178.8 million in the comparable 1999 period. Higher unit sales of liquid laundry products, including Xtra Mountain Rain, Xtra Plus Enzymes and the Xtra Bonus Pack, which were introduced in the latter portion of fiscal 1999, were responsible for the increase.
"Management's continued emphasis on profitability resulted in improved operating income and earnings for the quarter," said Charles LaRosa, president and chief operating officer of USA Detergents. "We achieved these results through growth of our base business while realizing efficiencies in direct labor, and selling, general and administrative expenses and efficiently managing our trade spending. These actions more than offset the impact of higher commodity costs and increased fuel costs on our shipping expenses."
Net sales increased 4.9% to $63.7 million for the third quarter of 2000. For the nine-month period of 2000, net sales increased 5.9% to $189.5 million from $178.8 million in the comparable 1999 period. Higher unit sales of liquid laundry products, including Xtra Mountain Rain, Xtra Plus Enzymes and the Xtra Bonus Pack, which were introduced in the latter portion of fiscal 1999, were responsible for the increase.