Top Companies Report

32. Prestige Brands

July 11, 2011

Irvington, NY

Tel: 914-524-6800

www.prestigebrands.com

Sales: $336 million


Sales:

$336 million. Net income: $29 million for the year ended March 31, 2011.


Key Personnel:

Matthew M. Mannelly, president and chief executive officer; Ron Lombardi, chief financial officer; Timothy J. Connors, chief marketing officer; Eric S. Klee, secretary and general counsel; John Parkinson, senior vice president, international; Jean Boyko, senior vice president, science and technology; Paul Hennessey, vice president, operations.


Major Products:

OTC remedies and oral and skin care products including brands such as Compound W, Cloverine Salve, Dermoplast Sprays, Efferdent denture cleaner and adhesive, Ezo denture products, Freezone corn and callus remover, Kerodex, New-Skin liquid bandage and scar fade, Outgro, Oxipor Psoriasis Lotion and Wartner wart products. Household care products include Comet, Cinch and Spic and Span cleaners and Chore Boy scrubbing pads.

 

Comments:

Venerable brand names in medicated skin care (Compound W, Cloverline) and home care (Spic and Span and Comet) are part of Prestige Brands’ stable, but it is OTC healthcare that drives the firm. This Irvington, NY-based company has been expanding its OTC healthcare roster via acquisitions, which in turn has helped propel revenues by more than 15% this past year.


According to the company, revenues for the fiscal year ended March 31, 2011 topped $336 million, with OTC healthcare unit accounting for the majority of the company’s revenues for the year.Revenues from the household side of Prestige Brands’ business came in at nearly $102 million.


One of its new healthcare pick-ups, Dramamine, accounted for a large percentage of that 15% growth. Organic revenues for the company grew 1.7% during the current year over the prior year, according to Prestige Brands, which saw its income from continuing operations for fiscal 2011 fall 9.0% to was $29.2 million.


In 2010, prestige completed the integration of Blacksmith Brands, including Efferdent and Effergrip denture products.


“(It) has been an extremely productive and transformative year for Prestige Brands,” said Matthew M. Mannelly, president and CEO.


While OTC healthcare is growing for Prestige, household care isn’t faring as well. Revenues for the household cleaning segment for the fourth fiscal quarter fell 8.1% as Comet, Spic and Span and Chore Boy continued to face negative category consumption trends and competitive pressures at retail, the company said.


On the personnel front, Ron Lombardi was named CFO in late 2010 when Pete Anderson retired, and in March 2011, Paul A. Hennessey came over from Pfizer Consumer Healthcare to serve as vice president, operations. While at Pfizer, Hennessey spent 18 years in supply chain and manufacturing operations in positions of increasing responsibility.

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