DEL LABS POSTS STRONG NET FOR YEAR
NEW YORK — Strength in cosmetics and pharmaceutical products helped Del Laboratories post dramatic improvements in earnings for both the fourth quarter and year.
Net income for the fourth quarter ended Dec. 31 was $1.1 million, or 14 cents a share, more than eight times the $131,000, or 2 cents, registered in the final 1999 period.
Sales moved ahead 4.5 percent to $73.6 million from $70.4 million.
Dan Wassong, chairman, president and chief executive of the Uniondale, N.Y.-based firm, said in a statement, “In cosmetics, our core Sally Hansen brand achieved record high levels of market share in the total nail care category, including the nail color, nail treatment, beauty implements and artificial nail categories.”
The N.Y.C. New York Color brand “continues to receive excellent customer response,” he said.
Net income for the fiscal year amounted to $4.7 million, or 59 cents a share, versus a net loss of $4 million, or 51 cents, in 1999.
Sales for the year bounded 11.3 percent, to $294.9 million from $265.1 million in 1999.