Physicians Formula Maintains in 2010

Mineral makeup is still big in the marketplace—as seen at leading marketer Physicians Formula. Net sales for full year 2010 increased slightly at 0.9% to $78.5 million. The company noted that, when adjusting 2009 for sales to the customer that discontinued the company’s products in mid-2009, 2010 net sales would have increased 5.5% over the prior year. Net income for full year 2010 was $0.6 million.

Ingrid Jackel, chairwoman and chief executive officer, stated, “Our 2010 full year results were consistent with our expectations, and we are entering 2011 with good momentum. In 2010, we grew the top-line with our continuing customers, and also showed excellent cost control, particularly in reducing the expense of our product returns and obsolescence.”

For the fourth quarter, net sales slipped 8.1% to $20.5 million.