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 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.