St. Ives Laboratories Income Down for Quarter
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St. Ives Laboratories Inc. reported an 85% drop in net income in the fourth quarter that ended Dec. 31 to $65,000 from $421,000 a year earlier. The Chatsworth company, which manufactures and markets skin lotions and shampoos under the Swiss Formula brand name, said revenues fell 5% to $21.6 million from $22.9 million.
For the year that ended in December, St. Ives’ earnings declined 16% to $3.8 million from $4.5 million. Revenues rose 1% to $105.1 million from $103.9 million in 1988.
The company said its 1989 results included a $1.43-million settlement with Floreat International Ltd. relating to a dispute over a distribution agreement.
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