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Animal Health News & Notes for July 18, 2003
****************************************************************** Brakke Consulting’s Animal Health News & Notes for July 18, 2003 Copyright © Brakke Consulting, Inc. ****************************************************************** COMPANY EARNINGS RELEASES > Akzo Nobel reported that second quarter 2003 sales of its animal health division Intervet were 243 million euros ($278 million), a decrease of 13% over the second quarter of the prior year. Intervet was impacted by weak business conditions in the US, which were partially offset by a generally improved performance in the rest of the world. Sales for the first half of 2003 were 496 million euros ($567 million), down 10% compared to the first half of 2002. (company website) > Farmland Industries announced operating income of $45.3 million for the third quarter of the 2003 financial year. This represents a substantial improvement compared to an operating loss of ($93.0) million in the third quarter one year ago. Year-to-date operating income of $95.5 million is compared to an operating loss of ($126.9) million during the nine-month period last year. Overall, after inclusion of reorganization expense, non-cash restructuring charges and results from discontinued operations, Farmland reported a net loss in the third quarter of ($47.2) million compared to a net loss of ($189.5) million during the third quarter of the prior year. (Wattnet Meatnews) ******************************************************************** BRAKKE CONSULTING ANNOUNCES MULTIUSER STUDY ON THE AQUACULTURE INDUSTRY In 1997, Brakke
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July 18, 2003
Animal Health News & Notes for July 11, 2003
****************************************************************** Brakke Consulting’s Animal Health News & Notes for July 11, 2003 Copyright © Brakke Consulting, Inc. ****************************************************************** BRAKKE CONSULTING ANNOUNCES UPCOMING MULTIUSER STUDY ON THE AQUACULTURE INDUSTRY In 1997, Brakke Consulting developed an extensive report on the worldwide aquaculture business and the opportunities for animal health, nutrition, and investor companies in the next decade. We have just completed an all-new update of that report on the aquaculture market. The past six years has seen a great deal of change in the aquaculture business. These changes and their implications for current and future suppliers are highlighted in the new 60-page report. If you currently supply or have been considering supplying the aquaculture industry, you’ll find this report most useful and helpful in our planning process. The opportunity continues to increase in value for participating companies. The study will be completed at the end of July and available for purchase at a price of $3,000. For more information on the report, please call 972-243-4033, or email info@brakkeconsulting.com . ******************************************************************** COMPANY NEWS RELEASES > Merial and Boehringer Ingelheim Vetmedica announced the FDA approval and launch of Metacam (meloxicam) for the relief of pain and inflammation associated with canine osteoarthritis. Metacam is available in an oral suspension, and has the benefit of once-daily dosing. Metacam is manufactured by BIV and will be marketed
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July 11, 2003
Animal Health News & Notes for July 3, 2003
****************************************************************** Brakke Consulting’s Animal Health News & Notes for July 3, 2003 Copyright © Brakke Consulting, Inc. ****************************************************************** COMPANY EARNINGS RELEASES > Dainippon Pharmaceuticals announced that sales of its animal science division for the fiscal year ended March 31, 2003 increased by 8.8% to Yen 26.815 billion ($ 223.5 million) compared with the previous year. This increase is mainly due to the acquisition of the animal health business of Tanabe Seiyaku in November 2002. (company press release) > Novozymes reported that its feed enzymes sales in the first quarter of 2003 grew 33% to DKK 165 million ($25.6 million). The company’s alliance with Roche Vitamins is expected continue following the latter’s sale to DSM. (Animal Pharm) ******************************************************************** BRAKKE CONSULTING, INC. Communication Challenges One of the largest yearly investments most companies make is in Advertising and Promotion. When was the last time you seriously evaluated your program? Are you using the right mix of sales promotion, public relations, database marketing and advertising? Do you have a customer retention program? Are you taking advantage of global synergies? Do you have an Internet strategy, or merely a web site? Are your communications agencies performing? Brakke Consulting, Inc. has the experience and ability to evaluate, audit, and help improve the communication challenges all companies face. Contact information for all offices is
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July 3, 2003
Animal Health News & Notes for June 27, 2003
****************************************************************** Brakke Consulting’s Animal Health News & Notes for June 27, 2003 Copyright © Brakke Consulting, Inc. ****************************************************************** COMPANY EARNINGS RELEASES > ConAgra Foods reported results for the fourth quarter and year ended May 25, 2003. Sales for the fourth quarter declined to $3.9 billion from $5.9 billion last year. Fiscal year sales were $20 billion, a decline from $25 billion last year. As a result, operating profit for the year decreased 1% to $1.9 billion. The company in fiscal 2003 divested fresh beef and pork, seafood, and several cheese operations, and reached an agreement to sell its chicken operations. (Meating Place) ******************************************************************** BRAKKE CONSULTING, INC. When The Time is Right Are you interested in growing your business by purchasing another company, product line or technology? Have you been thinking about selling your company, product line or technology? Have you considered merging your company with another firm to improve shareholder value? Brakke Consulting, Inc. assisted many clients with mergers, acquisitions and divestitures over the last few years. Contact information for all offices are available on our website at www.brakkeconsulting.com. ******************************************************************** COMPANY NEWS RELEASES > Elanco announced that the FDA has approved Optaflexx, a new cattle feed ingredient that increases live weight gain, improves feed efficiency, and increases red meat yield. Optaflexx is mixed in the diet and given during the
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June 27, 2003
Animal Health News & Notes for June 20, 2003
****************************************************************** Brakke Consulting’s Animal Health News & Notes for June 20, 2003 Copyright © Brakke Consulting, Inc. ****************************************************************** COMPANY EARNINGS RELEASES > Veterinary Pet Services, Inc., the parent company of Veterinary Pet Insurance Company (VPI) and its subsidiary, DVM Insurance Agency, announced a 36.5% increase in revenue for the quarter ended March 31, 2003. Revenue grew to $11.3 million compared to $8.3 million for the same period in 2002. Net income also grew from $437,000 in the first quarter of 2002 to $611,000 in the first quarter of 2003, an increase of 40%. The company wrote approximately 36% more pet insurance policies in the first quarter of 2003 than in the comparable period of 2002. (company press release) > PetMed Express, Inc. announced results for the fiscal year ended March 31, 2003. Net income was $3.3 million, including a tax benefit of $581,000 which was recognized in the fourth quarter of fiscal 2003, compared to net income of $825,000 for fiscal 2002. Net sales for the fiscal year ended March 31, 2003 were $55 million, compared to $32 million for the year ended March 31, 2002, an increase of 72%. PetMed Express also reported new customer growth of approximately 414,000 customers in fiscal 2003. In addition, net sales for the first two months of the first fiscal quarter ended June
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June 20, 2003
Animal Health News & Notes for June 13, 2003
****************************************************************** Brakke Consulting’s Animal Health News & Notes for June 13, 2003 Copyright © Brakke Consulting, Inc. ****************************************************************** COMPANY EARNINGS RELEASES > Vetoquinol reported sales of 185 million euros ($194 million) for the year 2002, a 27% increase compared to 2001 sales. During 2002, Vetoquinol acquired the US pet products business of IGI, Inc. (company website) > Adisseo reported sales of 581 million euros ($609 million) for the year 2002, a decrease of 5% compared to 2001 sales. (company website) ******************************************************************** BRAKKE CONSULTING, INC. The Success of Veterinarians Is Essential The Practice Management Group of Brakke Consulting, Inc. have become some of the most frequent speakers at veterinary association meetings throughout the U.S. and abroad. They consistently fill the rooms when they present veterinary management seminars. PMG can help your company increase its value to existing and potential veterinary customers through sponsored seminars that are educational, relevant, enjoyable and very beneficial to veterinarians and their staffs. Contact Roger Cummings, CVPM in the Dallas office at 972.243.4033 or by email at rcummings@brakkeconsulting.com to learn how our practice management consultants can help maximize your company’s exposure to the veterinary profession. ******************************************************************** COMPANY NEWS RELEASES > The FDA amended the animal drug regulations to reflect approval of an abbreviated new animal drug application (ANADA) filed by Phoenix Scientific, Inc. The ANADA provides for
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June 13, 2003
Animal Health News & Notes for June 6, 2003
******************************************************************* Brakke Consulting’s Animal Health News & Notes for June 6, 2003 Copyright © Brakke Consulting, Inc. ******************************************************************* COMPANY EARNINGS RELEASES > Smithfield Foods Inc. posted an 80% drop in fiscal fourth- quarter profit because of lower meat prices and soft hog and pork markets. Smithfield earned $5.1 million compared with $24.9 million in the prior-year period. Results included a $2.2 million pretax charge. Revenue for the quarter fell slightly to $1.95 billion from $1.96 billion a year earlier. Strong profits from beef and processed meats somewhat offset the weak hog and fresh pork sectors. For the full year, earnings totaled $26.3 million, down 87% from $196.9 million in 2002. Revenue for the year rose to $7.90 billion from $7.36 billion a year earlier. (MeatingPlace, AP) ******************************************************************** BRAKKE CONSULTING, INC. Additional Consultants Join Brakke Consulting, Inc. We are pleased to welcome two consultants to the Brakke Consulting team. Kevin Scott brings 30 years of extensive experience in the animal health industry to our firm. Kevin has held senior management positions in business development, marketing, and general management with many companies. His expertise in sales, marketing, merger and acquisition, combined with his business development knowledge will help many of our clients in achieving their goals. We hope you will welcome Kevin to our team. You may contact him directly by email
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June 6, 2003
Animal Health News & Notes for May 30, 2003
****************************************************************** Brakke Consulting’s Animal Health News & Notes for May 30, 2003 Copyright © Brakke Consulting, Inc. ****************************************************************** COMPANY EARNINGS RELEASES > PETsMART, Inc. announced results for its first quarter ended May 4, 2003. The company reported first quarter net income of $24.6 million, compared with net income of $22.1 million for the first quarter of 2002. Net sales for the first quarter of 2003 were $696.8 million, compared to $645.8 million for the same period last year. Comparable store sales grew 4.8% over the first quarter of last year. Pet services sales for the first quarter were $45.5 million, up 22% over the first quarter of last year, an increase that reflects the company’s focus and investment in growing its grooming and training businesses. The company opened 19 new stores, closed two locations and reformatted 49 stores in the first quarter of 2003. (Business Wire) > Sanderson Farms reported net sales for the second quarter of fiscal 2003 were $201 million compared with $175 million for the same period a year ago. For the quarter, Sanderson reported net income of $12.8 million compared with net income of $7.7 million in the prior year period. Net sales for the first six months of fiscal 2003 were $385 million compared with $340 million for the first half of fiscal 2002. Net
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May 30, 2003
Animal Health News & Notes for May 23, 2003
****************************************************************** Brakke Consulting’s Animal Health News & Notes for May 23, 2003 Copyright © Brakke Consulting, Inc. ****************************************************************** COMPANY EARNINGS RELEASES > Ceva Sante Animale achieved an 8% sales increase to 51 million euros ($55 million) for the first quarter 2003. This increase is mainly due to pets products sales (DAP and FELIWAY) in the European Union and US. The other regions are also growing, despite the problems of conflicts in the Middle East and exchange rates between USD currencies and euro. (company communication) > PETCO Animal Supplies, Inc. reported financial results for the first quarter ended May 3, 2003. Net sales in the first fiscal quarter of 2003 were $385 million with a comparable store net sales increase of 4.6%. Overall, net sales increased 10.2% over the first quarter of fiscal 2002. Net earnings available to common stockholders for the first quarter were $11.1 million, compared with a net loss available to common stockholders of $29.7 million in the prior-year first quarter. PETCO opened 22 new stores during the first quarter and closed five stores, three of which were relocated to new stores. (Business Wire) > Patterson Dental announced that sales of the Webster Veterinary Supply unit increased 20% to $53 million in the fourth quarter ended April 26, 2003. Webster was acquired in the first quarter of fiscal
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May 23, 2003
Animal Health News & Notes for May 16, 2003
****************************************************************** Brakke Consulting’s Animal Health News & Notes for May 16, 2003 Copyright © Brakke Consulting, Inc. ****************************************************************** COMPANY EARNINGS RELEASES > Schering-Plough reported that first quarter 2003 sales of its animal health division declined 5% to $143 million due to current manufacturing supply issues. (company website) > For the first half year of 2002/03, Danish Crown posted an interim result of DKK 591 million ($91 million) after tax, virtually the same as last year. Turnover at DKK 19.5 billion ($3 billion) is DKK 2.7 billion below last year, which is due to low world market prices for pork. The Pork Division continues to be the largest contributor to the Group’s profits, but activities during the first half year were focused on alleviating the worst effects of the continuing weak global market for pork and falls in a number of export currencies. Despite a slightly lower turnover resulting from lower raw material prices, half-year profits were approx. DKK 30 million above last year. (Wattnet Meatnews) ****************************************************************** BRAKKE CONSULTING ANNOUNCES UPCOMING MULTIUSER STUDY ON VETERINARY DRUG COMPOUNDING In the past year or two, the exhibit halls at veterinary conferences have seen a proliferation of veterinary compounding pharmacies. In response to frequent questions about this topic, Brakke Consulting will be conducting a study of the phenomenon of veterinary compounding. The study will
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May 16, 2003
Animal Health News & Notes for May 9, 2003
****************************************************************** Brakke Consulting’s Animal Health News & Notes for May 9, 2003 Copyright © Brakke Consulting, Inc. ****************************************************************** COMPANY EARNINGS RELEASES > Bayer reported that first quarter 2003 sales for its animal health division were 179 million euros ($193 million), a decrease of 12% over the first quarter of 2002. The company stated that sales decreased because of shifts in exchange rates, and because of the delay in receiving marketing approval for the antiparasitic treatment K9 Advantix in California. (company website) > Alltech International Holdings, Inc. announced net sales and net income for the year ended December 31, 2002. Net sales for the year ended December 31, 2002, were $42 million with net income of $836,307. Comparable amounts for the year ago period ended December 31, 2001, were net sales of $41 million with a net loss of ($858,749). The improved earnings were attributable to four primary factors. They are 1) Reduction in operation expense, 2) Improved margins, 3) International sales expansion and 4) More favorable foreign exchange adjustments. (Business Wire) > Virbac Corporation reported financial results for its first quarter ended March 31, 2003. Net sales were $15.4 million, compared with $15.9 million in the first quarter of 2002. Sales for the Veterinary Division were $6.3 million compared with $8.4 million in the first quarter of 2002, reflecting a
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May 9, 2003
Animal Health News & Notes for May 2, 2003
****************************************************************** Brakke Consulting’s Animal Health News & Notes for May 2, 2003 Copyright © Brakke Consulting, Inc. ****************************************************************** COMPANY EARNINGS RELEASES > Aventis reported that first quarter sales for Merial were $432 million in the first quarter, an operational decline of 1% from the year-ago period. (company website) > Veterinary Pet Services, Inc. (VPSI), the parent company of Veterinary Pet Insurance (VPI) and its subsidiary, DVM Insurance Agency, announced net income for the year ending December 31, 2002 of $2.3 million, an increase of 123% compared to 2001. Gross premiums produced in 2002 grew to $64.2 million, an increase of 43% compared to 2001. VPSI’s 2002 annual revenues increased by 37% to $37.5 million, compared to $27.4 million in 2001. The company wrote approximately 125,800 new pet insurance policies in 2002 compared to 88,100 new policies in 2001, an increase of 43%. (PRNewswire) > BASF reported that first quarter sales in its fine chemicals division were 8.1% lower than in 2002. Sales volumes of carotenoids, lysine, cosmetic raw materials and vitamin C increased. Severe currency and price effects, however, reduced total sales revenues. Income from operations before special items increased to EUR41 million ($44 million). (Business Wire) > Tyson Foods reported that sales for the second quarter of fiscal 2003 were $5.8 billion, no change from the second quarter of
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May 2, 2003
Animal Health News & Notes for April 25, 2003
****************************************************************** Brakke Consulting’s Animal Health News & Notes for April 25, 2003 Copyright © Brakke Consulting, Inc. ****************************************************************** COMPANY EARNINGS RELEASES > Pfizer reported that Animal Health sales for the first quarter 2003 increased 13% in the period to $269 million, as both the livestock and companion animal businesses recorded revenue growth in excess of 10%. This figure does not include the Pharmacia animal health sales. (company website) > Wyeth reported that first quarter sales of its animal health division Fort Dodge increased 13% for the 2003 first quarter to $182 million. The increase in sales of animal health products was due primarily to higher domestic sales of the company’s West Nile Innovator biological vaccine for horses. Excluding the impact of foreign exchange, worldwide animal health product net revenue increased 11% for the quarter. (company website) > Eli Lilly reported that first quarter 2003 sales for its animal health division Elanco were $173 million, an increase of 3% compared to the first quarter of 2002. Excluding the effect of exchange rates, sales increased by 1% for the quarter. (company website) > Alpharma reported that first quarter 2003 revenues for its animal health division declined 5% to $67 million compared to $71 million in 2002. Revenue declines reflect decreased poultry demand and increased competition in the swine and cattle segments. Operating
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April 25, 2003
Animal Health News & Notes for April 18, 2003
****************************************************************** Brakke Consulting’s Animal Health News & Notes for April 18, 2003 Copyright © Brakke Consulting, Inc. ****************************************************************** COMPANY EARNINGS RELEASES > Akzo Nobel reported that first-quarter 2003 sales of its animal healthcare division Intervet declined 8% to 253 million euros ($273 million). The company stated that animal health activities were under pressure from weak key currencies and soft business conditions. (Business Wire) > Novartis reported that Animal Health sales were $157 million, up 5% (0% in local currencies) from the previous year’s first quarter. Operating income decreased 8% to $23 million, leading to an operating margin of 14.6%. Investments in Research & Development were higher than in the previous first quarter, owing to the timing of large studies for development projects. (company website) > Colgate-Palmolive reported that Hill’s Pet Nutrition’s first quarter unit volume grew 7.0%, dollar sales increased 14.5% and dollar operating profit grew 34%. New product activity and veterinary endorsements continue to fuel growth. Continued improvements in supply chain efficiencies generated savings that funded increased commercial investment for the quarter. Excluding foreign exchange, sales increased 9.0% and operating profit grew 23%. (company press release) > Alcide Corporation released financial results for its fiscal third quarter and nine-month periods ended February 28, 2003. For the quarter, Alcide earned $280,000 on revenues of $5.5 million. In the third quarter
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April 18, 2003
Animal Health News & Notes for April 11, 2003
****************************************************************** Brakke Consulting’s Animal Health News & Notes for April 11, 2003 Copyright © Brakke Consulting, Inc. ****************************************************************** COMPANY EARNINGS RELEASES > Boehringer Ingelheim reported that year-end sales for its Animal Health division stagnated at 318 million euros ($333 million). Very favorable developments in Europe were more than offset by difficult market conditions in the Americas and restructuring needs. Overall growth was flat in euro terms and increased 3% adjusted for currency effects. (company website) > Provimi announced its 2002 results. Sales increased 2.2% to 1,534.1 million euros (about US$1,646 million). Net income surged 26.8% to 18 million euros, due mainly to 5.2 million euros in exceptional items boosting the bottom line. Provimi’s North American Animal Nutrition Company (NANCO) had sales decline 16.4% to 217.4 million euros (about US$233 million). Operating income for the unit declined 10.2% to 18.5 million euros (US$19.8 million). (Watt Feed Enews) ****************************************************************** BRAKKE CONSULTING EXECUTIVE RECRUITING SERVICES Since 1986, Brakke Consulting, Inc. has successfully assisted many clients in finding and employing exceptional employees at all levels, in the many departments of animal health, pet, veterinary and specialty chemical companies. In the past three years alone, we have filled over 75 positions in the markets we serve. We have a unique consulting and search agreement program that we feel fits the industries we serve more appropriately
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April 11, 2003
Animal Health News & Notes for April 4, 2003
****************************************************************** Brakke Consulting’s Animal Health News & Notes for April 4, 2003 Copyright © Brakke Consulting, Inc. ****************************************************************** BRAKKE CONSULTING MOURNS THE PASSING OF RICHARD WILSON Due to complications from a sudden stroke, Richard W. Wilson passed away peacefully at St. Luke’s Hospital on March 30th, 2003 during a radiant spring sunrise, held closely by his loving son, Matthew, and wife, Patricia. Dick was born in Chicago Illinois on April 17, 1937 and his parents precede him in death. He was an only child. Dick attended Illinois Wesleyan and served the armed forces of America for two years in Germany during the Korean War. He played minor league baseball for the Chicago White Sox. Dick was a senior partner in Brakke Consulting, Inc. He is survived by his wife Patricia and two sons, Matthew A. Wilson, Ph.D., Burlington Vermont and Dennis X. Wilson, Kansas City. As an organ donor, Dick strongly believed in sharing his gift of life. His CELEBRATION OF LIFE memorial will be held at 2:00pm on Saturday, April 5, 2003 at Unity Temple on the Plaza, 707 W. 47th Street Kansas City, Missouri. In lieu of flowers or gifts for the family, donations can be made to the Richard W. Wilson Business Scholarship Fund being established to assist financially disadvantaged university students who wish to study Business
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April 4, 2003
Animal Health News & Notes for March 28, 2003
****************************************************************** Brakke Consulting’s Animal Health News & Notes for March 28, 2003 Copyright © Brakke Consulting, Inc. ****************************************************************** COMPANY EARNINGS RELEASES > Ceva Sante Animale reported year-end results for 2002 were 210.5 million euros ($221 million), an increase of 10% compared to 2001. The animal health division reported sales of 200 million euros ($210 million), an increase of 12.4% compared to 2001. Total Operating results were 19 million euros ($20 million), an increase of 16.9% compared to 2001. (company communication) > Neogen Corporation announced that net income for the third quarter of its 2003 fiscal year, which ended Feb. 28, was 25% higher than the previous year’s third quarter, increasing to $1.03 million. Year-to-date net income was up 24% to $3.5 million. Neogen’s third quarter revenues were $11.1 million, the first time the Company’s third quarter revenues have exceeded $10 million, and 15% greater than last year’s comparable quarter. Revenues for the Company’s first nine months were $34.3 million compared to $30.1 million in the prior year. (company website) > Evialis reported that turnover for the year 2002 decreased by 1% to 738 million euros ($775 million). The company was affected by a downturn in the French market, economic difficulties in Brazil and a weak market in Poland. Problems in France were partially offset by new acquisitions, including that of
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March 28, 2003
Animal Health News & Notes for March 21, 2003
****************************************************************** Brakke Consulting’s Animal Health News & Notes for March 21, 2003 Copyright © Brakke Consulting, Inc. ****************************************************************** COMPANY NEWS RELEASES > The European Union has approved the merger of Pfizer and Pharmacia. The merger must still be cleared through antitrust authorities in the US, but is expected to be completed shortly. (Feedstuffs) > Mars has acquired Aquarium Pharmaceuticals, Inc. (API). API enjoys a leading position in the US in water treatments for outdoor ponds and indoor aquaria, and has a long established and successful working relationship with Mars as distributor of its AQUARIAN fish food and RENA aquarium, and aquarium and pond equipment business in the USA and Canada. Financial terms were not disclosed. (Pets International) > The FDA is amending the animal drug regulations to reflect approval of an abbreviated new animal drug application (ANADA) filed by Phoenix Scientific, Inc. The ANADA provides for the oral use of pyrantel pamoate paste for the removal and control of certain internal parasites in horses and ponies. (AnimalNet – Federal Register) > Novartis announced that Deramaxx chewable tablets have been approved by the FDA for the control of pain and inflammation associated with canine osteoarthritis (OA). Deramaxx was launched last year with an indication for pain relief following surgery. (company press release) > Milk Specialties announced the acquisition of Buckeye Nutrition,
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March 21, 2003
Animal Health News & Notes for March 14, 2003
****************************************************************** Brakke Consulting’s Animal Health News & Notes for March 14, 2003 Copyright © Brakke Consulting, Inc. ****************************************************************** COMPANY EARNINGS RELEASES > Bayer reported that year-end 2002 sales for its animal health division were 850 million euros ($891 million), a decrease of 1% over the prior year. Operating results before exceptional items was 180 million euros ($189 million), an increase of 12% over the prior year. The company reported that while business was hampered by the economic crisis in Argentina and lower demand for Advantage, the North American launch of Advantix K9 was a resounding success. (company website) > PETCO Animal Supplies reported financial results for the fourth quarter and fiscal year 2002 ended February 1, 2003. Net sales in the fourth quarter of 2002 were $405.4 million with a comparable store net sales increase of 6.0%. Overall, net sales increased 11.5% over the fourth quarter of fiscal 2001. Net earnings available to common stockholders for the fourth quarter were $19.4 million, compared with net loss available to common stockholders of $18.2 million in the prior-year fourth quarter. For the full year, net sales in fiscal 2002 were $1.48 billion with a comparable store net sales increase of 8.0%. Overall, net sales increased 13.5% over fiscal 2001. Net earnings available to common stockholders in fiscal 2002 were $11.7 million compared
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March 14, 2003
Animal Health News & Notes for March 7, 2003
****************************************************************** Brakke Consulting’s Animal Health News & Notes for March 7, 2003 Copyright © Brakke Consulting, Inc. ****************************************************************** COMPANY EARNINGS RELEASES > Doane Pet Care Company reported results for its fourth quarter and fiscal year ended December 28, 2002. The Company reported a net loss of $1.1 million for its fourth quarter ended December 28, 2002 on net sales of $246.6 million, compared to a net loss of $7.0 million on net sales of $221.5 million for the fourth quarter ended December 29, 2001. The Company reported net income of $15.3 million for the fiscal year 2002 on net sales of $887.3 million, compared to a net loss of $21.9 million on net sales of $895.8 million for the fiscal year 2001. Net sales in fiscal 2001 included $16.6 million of net sales from the Deep Run and Perham businesses prior to their divestiture in the 2001 second quarter. Excluding the divestitures from fiscal 2001, the Company’s net sales for fiscal 2002 increased 1%, or $8.1 million. (PRNewswire) > PETsMART, Inc. announced results for its fourth quarter and fiscal 2002, which ended on February 2, 2003. The company reported fourth quarter net income of $24.6 million versus $29.7 million for the 14-week fourth quarter of 2001. In fiscal 2002, PETsMART generated net income of $88.9 million compared with $39.6 million
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March 7, 2003
Page 63 of 73
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