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Lee Reports Net Loss

November 22, 2005

Health and beauty aid company Lee Pharmaceuticals issued results for the fiscal year ended Sept. 30, 2004.
For the fiscal year, net revenues were $8.5 million, a 3% decline compared to the previous year. Offsetting the decreases somewhat were increases in the private label category, as well as added sales of a newly-acquired brand. Lee also reported increases in several over-the-counter items. Overall, sales fell about 3%. This decline was attributed primarily to lower sales volume in the Lee Lip-Ex lip balms and other personal care products. Lee Pharmaceuticals executives said these declines are to be expected from older brands that are not currently supported by advertising or promotion.

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