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WEIDER REPORTS SECOND QUARTER $12 MILLION NET LOSS.

Biotech Financial Reports • Feb 1, 2003 • Weider Nutrition International Inc.
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Weider Nutrition International, Inc. (NYSE:WNI) has reported results for the three and six-month periods ended November 30, 2002.

Weider Nutrition's net sales were $64.2 million for the fiscal 2003 second quarter, compared to $76.2 million for the same period in fiscal 2002. For its fiscal 2003 second quarter, Weider reported net income of $2.3 million, or $0.09 per share (diluted), compared to a net loss of $3.9 million, or $0.15 per share (diluted) for the same period a year ago.

Weider Nutrition's net sales were $140.3 million for the six months ending November 30, 2002, compared to $156.9 million for the same period in fiscal 2002. For the first six months of fiscal 2003, Weider reported a net loss of $8.6 million, or $0.33 per share (diluted), compared to a net loss of $4.2 million, or $0.16 per share (diluted) for the same period a year ago. Excluding a one-time charge of $15.4 million recorded in the fiscal 2003 first quarter relating to the adoption of SFAS No. 142, Weider reported net income of $6.8 million, or $0.26 per share (diluted) for the first six months of fiscal 2003.

Bruce Wood, president and CEO, stated, "We are encouraged by our fiscal 2003 first half operating results. Our cost improvement initiatives are reflected in our increased operating margin. We believe these results flowed from our proactive management of the historically soft industry conditions. More recently, we are encouraged by the renewed growth of the supplement category in the mass market. We are not satisfied with our revenue trend, and we are committed to the objective of growing our top line revenues. We expect to implement marketing and new product plans in the second half of our fiscal year to address this objective."

About Weider Nutrition

Weider Nutrition International, Inc. develops, manufactures, markets and sells branded and private label vitamins, nutritional supplements and sports nutrition products in the United States and throughout the world and sells a line of sports apparel in Europe.

Weider can be found on the World Wide Web at http://www.weider.com.

For more information, call 801/975-5186.


COPYRIGHT 2003 Worldwide Videotex Reproduced with permission of the copyright holder. Further reproduction or distribution is prohibited without permission.
Copyright 2003, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.
NOTE: All illustrations and photos have been removed from this article.


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