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.