St. Ives Earnings Drop; Increased Costs Cited
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St. Ives Laboratories Inc., the Chatsworth maker of personal care products, said its earnings for the first quarter that ended March 31 were down 34% to $323,000 from $488,000 a year earlier.
Revenues for the quarter were $38.97 million, up 2% from $38.34 million during the year-earlier period, the company reported.
St. Ives attributed the decline in net income to increased sales expenses in its foreign markets and higher domestic distribution costs.
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