Lee Pharmaceuticals Reports Net Loss

Health and beauty aid company Lee Pharmaceuticals issued results for the three months and fiscal year ended Sept. 30, 2004.

For the fiscal year, net revenues were $8.5 million, a 3% decline compared to the previous year.

This decline was attributed primarily to lower sales volume in the Lee Lip-Ex lip balms and other personal care products. Lee Pharmaceutical executives said these declines are to be expected from older brands that are not currently supported by advertising or promotion.

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, the company’s sales decreased about 3% compared to fiscal year 2003.