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Earnings increase at GNC
Tuesday, November 11, 2008

General Nutrition Centers reported a 4.8 percent revenue increase in the third quarter, with the Pittsburgh vitamin retailer reporting sales gains in all sectors of its business.

Total revenue for the three months ended Sept. 30 was $414.2 million vs. $395.3 million during the same period last year. By segment, the retailer said its retail operation's sales grew 3.2 percent, the franchise operation gained 2.7 percent and the manufacturing/wholesale side posted a 19.4 percent gain.

Sales in established U.S. company-owned stores, including Internet sales, grew 1.5 percent.

The sales gains pushed GNC's net income to $16.3 million, up over last year's $6.1 million level during a period hit by costs related to the company's early 2007 acquisition by private equity investors.

Excluding various one-time expenses, earnings before interest, income taxes, depreciation and amortization would have been $55 million in the third quarter compared to $51.8 million last year.

First published on November 11, 2008 at 10:47 am