St. Ives Laboratories Sees Earnings Fall 28%

St. Ives Laboratories Inc., a Chatsworth manufacturer of shampoo and other personal care products, said its earnings fell 28% for the year that ended Dec. 31 despite a 6% jump in sales.

For the full year, the company’s earnings were $1.75 million, down from $2.4 million in 1993. Revenues last year climbed to $175.7 million from $165.9 million a year earlier.

Earnings in the fourth quarter were $173,000, compared to a $556,000 loss reported in the same quarter a year earlier. The latest quarterly sales were $39.9 million, down slightly from $41.6 million a year earlier.

Gary H. Worth, chairman and chief executive officer, said the lower yearly earnings resulted from the tax implications of foreign losses and start-up costs in some of the company’s international subsidiaries. The cost of repairing St. Ives’ main facilities after the Northridge earthquake, as well as losses related to the sale of additional land the company owned in Ontario, also cut into profits, he said.