Schiff Nutrition International Inc., (WNI) posted higher profit for the second quarter of the fiscal 2010, benefiting from a 14% rise in revenue. Following the results, the company's stock gained about 20% on the Nasdaq.
Schiff Nutrition's second quarter net income rose to $5.9 million or $0.20 per share from $2.9 million or $0.10 per share in the same quarter last year. The Salt Lake City, Utah-based company's net sales improved to $53.8 million from $47.3 million in the comparable quarter last year.
On average, three analysts polled by Thomson Reuters expected the company to earn $0.09 per share on a revenue of $48.30 million for the second quarter.
Gross profit for the quarter was higher to $24.2 million from $17.6 million and income from operations was $9.4 million up $4.5 million in the year-ago period.
Total operating expenses were $14.7 million, compared to $13.2 million in the same quarter last year.
For the six months, the company reported net income of $10.3 million or $0.36 per share, compared to to $6.2 million or $0.22 per share last year. Net sales increased to $102.3 million from $95.1 million a year ago.
WNI is currently trading at $7.52%, up $1.23 or 19.55% on the NYSE.
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