NEW YORK — Slumping sales and greater costs associated with a warehouse fire caused Allou Healthcare Inc.’s profits to regress by more than a third in the third quarter.
For the three months ended Dec. 31, the Brentwood, N.Y.-based health and beauty distributor reported net income fell 33.7 percent to $1.3 million, or 16 cents a diluted share. That compares with last year’s earnings of $2 million, or 28 cents. Earnings per share included non-operating income of approximately 11 cents as a result of changes in the value of outstanding warrants to purchase the firm’s Class A common stock. In the prior-year period, changes in the value of those warrants reduced net income by about 1 cent a share. Moreover, this year’s results were hurt by expenses and other factors related to the previously reported warehouse fire in September.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"