Rochester, NY 9/1/2009 5:05:00 PM
Matrixx Initiatives Inc., MTXX, Up by 1.70% Last Trading
Matrixx Initiatives Inc.
Matrixx Initiatives, Inc. announced that the FDA Warning Letter has had a material adverse impact the Company's business and generated publicity.
The recall of two products has required to take impairment charges, record reserves for customer returns and withdraw sales and earnings guidance for fiscal 2010.
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Last Trade: 5.39
Day's Range: N/A - N/A
52wk Range: 0.00 - 19.74
Change: 0.00 (0.00%)
Volume: 0
Avg Vol (3m): 1,642,830
ABOUT Matrixx Initiatives, Inc.
Matrixx Initiatives, Inc. develops, produces, markets and sells over-the-counter (OTC) healthcare products with an emphasis on those that utilize delivery systems that provide consumers with Better Ways to Get Better. Through its subsidiary, Zicam, LLC, the Company markets and sells products under the Zicam brand. The Company’s product offerings consist of four product classes within the cough and cold category: Cold Remedy; Allergy/Sinus; Cough and Multi-Symptom relief, and other cough/cold. In addition, the Company had sold products under the Nasal Comfort and Xcid brand names. Its Zicam products are marketed in the cough and cold market category. During the fiscal year ended March 31, 2009 (fiscal 2009), the Company’s top 15 customers accounted for more than 80% of its net sales and three customers each accounted for more than 10% of the Company’s net sales. In May 2008, the Company formed Zicam Canada, Inc. to commercialize sales of Zicam products in Canada.
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