Nutritional supplements company Weider Nutrition International Inc. Tuesday reported a net loss of $844,000, or 3 cents per share, for its fourth fiscal quarter ended May 31, compared to a net loss of $1.07 million, or 4 cents per share, for the same period last year.
Quarterly revenues were $91.5 million, down 0.05 percent from a year ago.
For the 2001 fiscal year, net income of $211,000, or 1 cent per share, compared to a net loss of $1.07 million, or 4 cents per share, for fiscal 2000.
Revenues for the fiscal year totaled $352.8 million, down 0.03 percent from the previous year.
"During our 2001 fiscal year, Weider faced a number of obstacles, including increased industry competition and continued softness in the U.S. nutritional supplements category, as well as difficulty in its international business," said Bruce Wood, president and chief executive officer of the Salt Lake-based company.
"Nonetheless, the company remained profitable in fiscal 2001. Although we expect continued challenges in revenue growth in fiscal 2002, we anticipate that our new products will gain traction throughout the year and our cost reduction programs will continue to generate operating efficiencies."
Weider's stock is traded over the New York Stock Exchange under the symbol WNI.