Chattem Inc. (CHTT) reported that its third-quarter net income was $23.4 million, compared to net income of $14.0 million in the prior year quarter. Earnings per share in the third quarter were $1.22 compared to $0.73 in the prior year quarter.
Net income in the third quarter of fiscal 2009 included a loss on early extinguishment of debt and employee stock option expenses under SFAS 123R. Net income in the third quarter of fiscal 2008 included employee stock option expenses under SFAS 123R, a non-recurring adjustment related to the voluntary recall of Icy Hot Heat Therapy products and a settlement related to claims alleging injury as a result of ingestion of Dexatrim products in 1998 through 2003.
Exclude these items, net income for the quarter was $25.0 million or $1.31 per share, compared to $22.3 million or $1.17 per share, in the prior year quarter.
Total revenues for the third quarter were $115.2 million compared to $111.9 million in the prior year quarter, representing a 2.9% increase.
Analysts polled by Thomson Reuters expected the company to report earnings of $1.21 per share on revenues of $116.70 million for the quarter. Analysts' estimates typically exclude special items.
For fiscal 2009, the company still expects earnings per share to be in the range of $4.80 - $4.90, excluding non-cash employee stock option expense under SFAS 123R of $0.26 per share, any loss on debt extinguishment, which was $0.04 per share for the first nine months of fiscal 2009, and any non-cash brand asset value impairment charge. Analysts expect the company to report earnings of $4.54 per share for fiscal 2009.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.