RONKONKOMA, N.Y., April 23 /PRNewswire-FirstCall/ -- NBTY, Inc.
(NYSE: NTY) (http://www.nbty.com/), a leading global manufacturer
and marketer of nutritional supplements, today announced results
for the fiscal second quarter and first six months ended March 31,
2009. For the fiscal second quarter ended March 31, 2009, net sales
were $596 million compared to $533 million for the fiscal second
quarter ended March 31, 2008, an increase of $63 million or 12%.
Included in this total are net sales of $23 million from Julian
Graves, acquired in the fiscal fourth quarter of 2008. The Leiner
Health Products business, which was acquired in July 2008, has been
fully integrated into NBTY operations; accordingly its sales can no
longer be separately identified. Net income for the fiscal second
quarter ended March 31, 2009 was $23 million, or $0.37 per diluted
share, compared to $44 million, or $0.67 per diluted share, for the
fiscal second quarter ended March 31, 2008. The decline in net
income for the fiscal second quarter of 2009 reflects lower gross
profit margins due to higher raw material costs which were not
offset by higher prices charged to customers and the impact of a
stronger US dollar as compared to the British Pound Sterling. The
British pound sterling declined 27% compared to the prior like
quarter. Without fluctuations in foreign exchange rates, earnings
per diluted share would have been $0.09 higher for the fiscal
second quarter of 2009. Adjusted EBITDA for the fiscal second
quarter of 2009 was $62 million, compared to $84 million for the
fiscal second quarter of 2008. At March 31, 2009, working capital
was $530 million, a decrease of $43 million compared to September
30, 2008. At March 31, 2009, total assets were $1.8 billion, and
book value per share was $15.81. Since October 1, 2008, the Company
repaid $15 million under its term loan and $55 million under its
revolving credit agreement. As of March 31, 2009, $320 million
remained undrawn under the Company's $325 million Revolving Credit
Facility. The Company is in compliance with all of its covenants
under outstanding credit facilities. For the six months ended March
31, 2009, net sales were $1.3 billion compared to $1.0 billion for
the six months ended March 31, 2008, an increase of $213 million or
20%. Net income for the six months ended March 31, 2009 was $37
million, or $0.58 per diluted share, compared to $90 million, or
$1.34 per diluted share, for the six months ended March 31, 2008.
The decrease in net income for the six months ended March 31, 2009
reflects the aforementioned lower gross profit margins, decreases
in foreign exchange rates and previously announced costs associated
with the write off and termination of the information technology
programs in our Direct Response business, which programs were
ineffective and uneconomical. Adjusted EBITDA for the six months
ended March 31, 2009 was $116 million, compared to $171 million for
the six months ended March 31, 2008. Overall gross profit margins
for the fiscal second quarter of 2009 decreased to 42% from 51% for
the fiscal second quarter of 2008. As previously discussed, a
portion of this decrease was anticipated due to lower gross margins
on Leiner private label business. Additional cost pressures
occurred at the time of the Leiner acquisition in July 2008, when
Leiner inventory levels were not adequate to maintain customer
fulfillment levels. At the same time, certain raw material costs
were increasing due to tight supply and inflationary pressures. In
order to maintain adequate customer fulfillment levels, the Company
was forced to purchase products at these higher costs. These
conditions continued to negatively impact results for the last two
quarters. The Company believes operations are stabilizing.
OPERATIONS FOR THE FISCAL SECOND QUARTER ENDED MARCH 31, 2009 Net
sales for the Wholesale/US Nutrition division, which markets
various brands including Nature's Bounty, Osteo Bi-Flex, Rexall,
Ester-C and Leiner products, increased $90 million, or 35%, to $350
million. Since acquiring Leiner, the Company has eliminated in
excess of $30 million in annualized non-manufacturing costs. Gross
profit for the Wholesale operation decreased to 27% from 41% for
the prior like quarter. Operating results were adversely affected
by higher raw material costs which were not offset by higher prices
charged to wholesale customers. While the gross profit percentage
decreased during this period, the Company continued to increase its
market share. The Nielsen Company tracks industry-wide sales of
vitamins, minerals, herbs and other supplements in the food, drug
and mass market sectors. For the thirteen week period ended March
28, 2009, Nielsen reported an increase in the entire category of
8%. According to Nielsen, for that same period, the Company's
Wholesale brands reported a 10% increase. The Wholesale/US
Nutrition division utilizes valuable consumer preference sales data
generated by the Company's Vitamin World retail stores and
Puritan's Pride Direct Response/E-Commerce operations to empower
its wholesale customers with this latest data. The Vitamin World
stores are used as a laboratory for new ideas and are an effective
tool in determining and monitoring consumer preferences. This
information, as well as scanned sales data from the Vitamin World
stores, is shared on a real time basis with our wholesale customers
to give them a competitive advantage. Net sales for the North
American Retail division, comprised of Vitamin World Stores in the
United States and LeNaturiste stores in Canada, were $52 million,
unchanged from the prior like quarter. While operating in a
difficult retail environment in the US and Canada, Vitamin World
same store sales increased 4% for the fiscal second quarter of
2009. Vitamin World results seem to indicate that the new
modernization of the stores has had a favorable impact on the US
Stores. Net sales at LeNaturiste decreased 18%, all attributable to
a weaker Canadian dollar, and the division operated at a loss of $1
million. LeNaturiste will continue to focus on increasing gross
margins by utilizing more in-house manufactured products and more
targeted promotions. During the fiscal second quarter of 2009, the
North American Retail division closed 3 stores and added 3 new
stores. At the end of the fiscal second quarter of 2009, the North
American Retail division operated a total of 531 stores, consisting
of 444 Vitamin World stores in the United States and 87 LeNaturiste
stores in Canada. Vitamin World plans to add 3 stores and close 5
stores during the remainder of fiscal 2009. European Retail net
sales for the fiscal second quarter ended March 31, 2009 decreased
$24 million, or 15% to $134 million compared to $158 million for
the prior like quarter. Julian Graves recorded net sales of $23
million. European Retail division same store sales in local
currency decreased 5% from the prior like period. On a monthly
basis, in local currency, same store sales decreased 10% in both
January and February but increased 4% in March. As previously
announced, the Julian Graves acquisition continues to be the
subject of an inquiry from the UK Competition Commission for
potential anti-trust implications. In conjunction with this
inquiry, Julian Graves business has not been integrated with the
Company's European operations and incurred a loss of $0.5 million
during the fiscal second quarter ended March 31, 2009. The European
Retail division continues to leverage its premier status, high
street locations and brand awareness in a difficult retail
environment. The European Retail division consists of 531 Holland
& Barrett stores, 345 Julian Graves stores and 31 GNC stores in
the UK, 22 Nature's Way stores in Ireland, and 71 DeTuinen stores
in the Netherlands, for a total of 1,000 stores in Europe. In
addition, during the fiscal second quarter of 2009, Holland &
Barrett opened 3 franchised stores in South Africa, for a total of
7 franchised stores in South Africa. Net sales from Direct
Response/E-Commerce operations for the fiscal second quarter of
2009 decreased $4 million, or 6% to $59 million from $63 million
for the fiscal second quarter of 2008. As this division varies its
promotional strategy throughout the fiscal year, its results should
be viewed on an annual and not quarterly basis. For the fiscal
second quarter of 2009, compared with the prior like quarter, gross
profit percentage for this division increased 5% to 64%; average
order size increased $8 to $78. This division was reorganized
during the first fiscal quarter of 2009. Online sales represented
43% of total Direct Response/E-Commerce sales. Puritan's Pride is
the leader in the Direct Response and E-Commerce sectors and
continues to increase the number of products available via its
catalog and web sites. NBTY Chairman and CEO, Scott Rudolph, said:
"Profitability for the quarter was affected by inflationary
pressures and foreign exchange declines. We continue to garner
greater market share and enhance our position as the global leader
in the nutritional supplement industry. The overall success of
NBTY, and its ability to generate long-term growth, reflects our
commitment to providing the highest quality products to our
customers." ABOUT NBTY NBTY is a leading global vertically
integrated manufacturer, marketer and distributor of a broad line
of high-quality, value-priced nutritional supplements in the United
States and throughout the world. Under a number of NBTY and third
party brands, the Company offers over 25,000 products, including
products marketed by the Company's Nature's Bounty(R)
(http://www.naturesbounty.com/), Vitamin World(R)
(http://www.vitaminworld.com/), Puritan's Pride(R)
(http://www.puritan.com/), Holland & Barrett(R)
(http://www.hollandandbarrett.com/), Rexall(R)
(http://www.rexall.com/), Sundown(R)
(http://www.sundownnutrition.com/), MET-Rx(R)
(http://www.metrx.com/), Worldwide Sport Nutrition(R)
(http://www.sportnutrition.com/), American Health(R)
(http://www.americanhealthus.com/), GNC (UK)(R)
(http://www.gnc.co.uk/), DeTuinen(R) (http://www.detuinen.nl/),
LeNaturiste(TM) (http://www.lenaturiste.com/), SISU(R)
(http://www.sisu.com/), Solgar(R) (http://www.solgar.com/), Good
'n' Natural(R) (http://www.goodnnatural.com/), Home Health(TM)
(http://www.homehealthus.com/), Julian Graves, and Ester-C(R)
(http://www.ester-c.com/) brands. NBTY routinely posts information
that may be important to investors on its web site. This release
refers to non-GAAP financial measures, such as Adjusted EBITDA.
"Adjusted EBITDA" is defined as net income, excluding the aggregate
amount of all non-cash losses reducing net income, plus interest,
taxes, depreciation and amortization. This non-GAAP financial
measure is not prepared in accordance with generally accepted
accounting principles and may be different from non-GAAP financial
measures used by other companies. Non-GAAP financial measures
should not be considered as a substitute for, or superior to,
measures of financial performance prepared in accordance with GAAP.
A reconciliation of the non-GAAP measure to the comparable GAAP
measure is included in the attached financial tables. Management
believes the presentation of Adjusted EBITDA is relevant and useful
because Adjusted EBITDA is a measurement industry analysts utilize
when evaluating NBTY's operating performance. Management also
believes Adjusted EBITDA enhances an investor's understanding of
NBTY's results of operations because it measures NBTY's operating
performance exclusive of interest and non-cash charges for
depreciation and amortization. Management also provides this
non-GAAP measurement as a way to help investors better understand
its core operating performance, enhance comparisons of NBTY's core
operating performance from period to period and to allow better
comparisons of NBTY's operating performance to that of its
competitors. This release contains certain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995 with respect to our financial condition, results
of operations and business. These forward-looking statements can be
identified by the use of terminology such as "subject to,"
"believe," "expects," "plan," "project," "estimate," "intend,"
"may," "will," "should," "can," or "anticipates," or the negative
thereof, or variations thereon, or comparable terminology, or by
discussions of strategy. Although all of these forward looking
statements are believed to be reasonable, they are inherently
uncertain. Factors which may materially affect such forward-looking
statements include: (i) slow or negative growth in the nutritional
supplement industry; (ii) interruption of business or negative
impact on sales and earnings due to acts of God, acts of war,
terrorism, bio- terrorism, civil unrest or disruption of mail
service; (iii) adverse publicity regarding nutritional supplements;
(iv) inability to retain customers of companies (or mailing lists)
recently acquired; (v) increased competition; (vi) increased costs;
(vii) loss or retirement of key members of management; (viii)
increases in the cost of borrowings and/or unavailability of
additional debt or equity capital; (ix) unavailability of, or
inability to consummate, advantageous acquisitions in the future,
including those that may be subject to bankruptcy approval or the
inability of NBTY to integrate acquisitions into the mainstream of
its business; (x) changes in general worldwide economic and
political conditions in the markets in which NBTY may compete from
time to time; (xi) the inability of NBTY to gain and/or hold market
share of its wholesale and/or retail customers anywhere in the
world; (xii) unavailability of electricity in certain geographical
areas; (xiii) the inability of NBTY to obtain and/or renew
insurance and/or the costs of the same; (xiv) exposure to and
expense of defending and resolving product liability and
intellectual property claims and other litigation; (xv) the ability
of NBTY to successfully implement its business strategy; (xvi) the
inability of NBTY to manage its retail, wholesale, manufacturing
and other operations efficiently; (xvii) consumer acceptance of
NBTY's products; (xviii) the inability of NBTY to renew leases for
its retail locations; (xix) the inability of NBTY's retail stores
to attain or maintain profitability; (xx) the absence of clinical
trials for many of NBTY's products; (xxi) sales and earnings
volatility and/or trends for the Company and its market segments;
(xxii) the efficacy of NBTY's Internet and on-line sales and
marketing strategies; (xxiii) fluctuations in foreign currencies,
including the British pound, the Euro and the Canadian dollar;
(xxiv) import-export controls on sales to foreign countries; (xxv)
the inability of NBTY to secure favorable new sites for, and delays
in opening, new retail and manufacturing locations; (xxvi)
introduction of and compliance with new federal, state, local or
foreign legislation or regulation or adverse determinations by
regulators anywhere in the world (including the banning of
products) and more particularly Good Manufacturing Practices in the
United States, the Food Supplements Directive and Traditional
Herbal Medicinal Products Directive in Europe and Section 404
requirements of the Sarbanes-Oxley Act of 2002; (xxvii) the mix of
NBTY's products and the profit margins thereon; (xxviii) the
availability and pricing of raw materials; (xxix) risk factors
discussed in NBTY's filings with the U.S. Securities and Exchange
Commission; (xxx) adverse effects on NBTY as a result of increased
energy prices and potentially reduced traffic flow to NBTY's retail
locations; (xxxi) adverse tax determinations; (xxxii) the loss of a
significant customer of the Company; (xxxiii) potential investment
losses as a result of liquidity conditions; and (xxxiv) other
factors beyond the Company's control. Readers are cautioned not to
place undue reliance on forward-looking statements. NBTY cannot
guarantee future results, trends, events, levels of activity,
performance or achievements. NBTY does not undertake and
specifically declines any obligation to update, republish or revise
forward-looking statements to reflect events or circumstances after
the date hereof or to reflect the occurrences of unanticipated
events. Consequently, such forward-looking statements should be
regarded solely as NBTY's current plans, estimates and beliefs.
(TABLES FOLLOW) NBTY, INC. CONDENSED CONSOLIDATED STATEMENTS OF
INCOME (UNAUDITED) (In thousands, except per share amounts) Three
months ended March 31, 2009 2008 Net sales $595,553 $532,518 Costs
and expenses: Cost of sales 343,644 261,284 Advertising, promotion
and catalog 33,028 39,007 Selling, general and administrative
174,657 166,409 551,329 466,700 Income from operations 44,224
65,818 Other income (expense): Interest (8,888) (3,657)
Miscellaneous, net 279 3,786 (8,609) 129 Income before provision
for income taxes 35,615 65,947 Provision for income taxes 12,545
21,721 Net income $23,070 $44,226 Net income per share: Basic $0.37
$0.69 Diluted $0.37 $0.67 Weighted average common shares
outstanding: Basic 61,600 64,102 Diluted 62,948 65,817 NBTY, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) (In
thousands, except per share amounts) Six months ended March 31,
2009 2008 Net sales $1,256,105 $1,043,376 Costs and expenses: Cost
of sales 732,147 501,615 Advertising, promotion and catalog 64,319
73,176 Selling, general and administrative 370,557 334,531 IT
project termination costs 8,647 - 1,175,670 909,322 Income from
operations 80,435 134,054 Other income (expense): Interest (18,377)
(7,519) Miscellaneous, net (5,356) 8,673 (23,733) 1,154 Income
before provision for income taxes 56,702 135,208 Provision for
income taxes 20,157 45,160 Net income $36,545 $90,048 Net income
per share: Basic $0.59 $1.37 Diluted $0.58 $1.34 Weighted average
common shares outstanding: Basic 61,600 65,510 Diluted 63,043
67,313 SALES (Unaudited) THREE MONTHS ENDED MARCH 31, Percentage
(In thousands) 2009 2008 Change Wholesale / US Nutrition $349,801
$259,363 35% North American Retail 51,916 51,904 0% European Retail
134,438 158,070 -15% Direct Response / E-Commerce 59,398 63,181 -6%
Total $595,553 $532,518 12% GROSS PROFIT PERCENTAGES (Unaudited)
THREE MONTHS ENDED MARCH 31, Increase 2009 2008 - Decrease
Wholesale / US Nutrition 27% 41% -14% North American Retail 66% 62%
4% European Retail 63% 61% 2% Direct Response / E-Commerce 64% 59%
5% Total 42% 51% -9% SALES (Unaudited) SIX MONTHS ENDED MARCH 31,
Percentage (In thousands) 2009 2008 Change Wholesale / US Nutrition
$756,768 $518,298 46% North American Retail 100,354 108,086 -7%
European Retail 290,464 316,666 -8% Direct Response / E-Commerce
108,519 100,326 8% Total $1,256,105 $1,043,376 20% GROSS PROFIT
PERCENTAGES (Unaudited) SIX MONTHS ENDED MARCH 31, Increase 2009
2008 - Decrease Wholesale / US Nutrition 27% 42% -15% North
American Retail 67% 60% 7% European Retail 63% 62% 1% Direct
Response / E-Commerce 62% 60% 2% Total 42% 52% -10% ADJUSTED
EBITDA** Reconciliation of GAAP Measures to Non-GAAP Measures
(Unaudited) (In thousands) THREE MONTHS ENDED MARCH 31, 2009 Pretax
Depreciation Income and Non-cash Adjusted (Loss) amortization
Interest charges EBITDA** Wholesale / US Nutrition $30,084 $3,586
$- $(74) $33,596 North American Retail 914 745 23 1,682 European
Retail 20,318 3,403 38 23,759 Direct Response / E-Commerce 21,198
1,267 (62) 22,403 Segment Results 72,514 9,001 - (75) 81,440
Corporate / Manufacturing (36,899) 8,278 8,888 442 (19,291) Total
$35,615 $17,279 $8,888 $367 $62,149 THREE MONTHS ENDED MARCH 31,
2008 Pretax Depreciation Income and Non-cash Adjusted (Loss)
amortization Interest charges EBITDA** Wholesale / US Nutrition
$41,507 $2,578 $- $48 $44,133 North American Retail 522 804 16
1,342 European Retail 34,266 2,970 41 37,277 Direct Response /
E-Commerce 15,750 1,374 20 17,144 Segment Results 92,045 7,726 -
125 99,896 Corporate / Manufacturing (26,098) 5,998 3,657 393
(16,050) Total $65,947 $13,724 $3,657 $518 $83,846 ** SINCE
ADJUSTED EBITDA IS NOT A MEASURE OF PERFORMANCE CALCULATED IN
ACCORDANCE WITH U.S. GENERALLY ACCEPTED ACCOUNTING PRINCIPLES
("GAAP"), IT SHOULD NOT BE CONSIDERED IN ISOLATION OF, OR AS A
SUBSTITUTE FOR OR SUPERIOR TO, OTHER MEASURES OF FINANCIAL
PERFORMANCE PREPARED IN ACCORDANCE WITH GAAP, SUCH AS OPERATING
INCOME, NET INCOME AND CASH FLOWS FROM OPERATING ACTIVITIES. IN
ADDITION, THE COMPANY'S DEFINITION OF ADJUSTED EBITDA IS NOT
NECESSARILY COMPARABLE TO SIMILARLY TITLED MEASURES REPORTED BY
OTHER COMPANIES. ADJUSTED EBITDA** Reconciliation of GAAP Measures
to Non-GAAP Measures (Unaudited) (In thousands) SIX MONTHS ENDED
MARCH 31, 2009 Pretax Depreciation Income and Non-cash Adjusted
(Loss) amortization Interest charges EBITDA** Wholesale / US
Nutrition $72,098 $7,310 $- $(27) $79,381 North American Retail
1,161 1,497 - 47 2,705 European Retail 46,489 6,964 - 90 53,543
Direct Response / E-Commerce 23,403 2,532 - 4,623 30,558 Segment
Results 143,151 18,303 - 4,733 166,187 Corporate / Manufacturing
(86,449) 16,497 18,377 1,003 (50,572) Total $56,702 $34,800 $18,377
$5,736 $115,615 SIX MONTHS ENDED MARCH 31, 2008 Pretax Depreciation
Income and Non-cash Adjusted (Loss) amortization Interest charges
EBITDA** Wholesale / US Nutrition $95,488 $5,272 $- $48 $100,808
North American Retail (342) 1,654 - 366 1,678 European Retail
69,333 6,032 - 41 75,406 Direct Response / E-Commerce 22,872 2,740
- 20 25,632 Segment Results 187,351 15,698 - 475 203,524 Corporate
/ Manufacturing (52,143) 11,957 7,519 393 (32,274) Total $135,208
$27,655 $7,519 $868 $171,250 ** SINCE ADJUSTED EBITDA IS NOT A
MEASURE OF PERFORMANCE CALCULATED IN ACCORDANCE WITH U.S. GENERALLY
ACCEPTED ACCOUNTING PRINCIPLES ("GAAP"), IT SHOULD NOT BE
CONSIDERED IN ISOLATION OF, OR AS A SUBSTITUTE FOR OR SUPERIOR TO,
OTHER MEASURES OF FINANCIAL PERFORMANCE PREPARED IN ACCORDANCE WITH
GAAP, SUCH AS OPERATING INCOME, NET INCOME AND CASH FLOWS FROM
OPERATING ACTIVITIES. IN ADDITION, THE COMPANY'S DEFINITION OF
ADJUSTED EBITDA IS NOT NECESSARILY COMPARABLE TO SIMILARLY TITLED
MEASURES REPORTED BY OTHER COMPANIES. NBTY, Inc. Condensed
Consolidated Balance Sheets (Unaudited) (In thousands, except per
share amounts) March 31, September 30, 2009 2008 Current assets:
Cash and cash equivalents $43,801 $ 90,180 Accounts receivable, net
134,111 122,878 Inventories 613,401 585,239 Deferred income taxes
25,300 25,098 Other current assets 36,587 75,971 Total current
assets 853,200 899,366 Property, plant and equipment, net 394,645
419,066 Goodwill 323,337 342,379 Intangible assets, net 217,945
230,424 Other assets 37,151 45,123 Total assets $1,826,278
$1,936,358 Current liabilities: Current portion of long-term debt
$32,077 $33,309 Accounts payable 156,256 120,620 Accrued expenses
and other current liabilities 134,817 172,035 Total current
liabilities 323,150 325,964 Long-term debt, net of current portion
464,010 538,402 Deferred income taxes 32,992 49,139 Other
liabilities 32,366 24,657 Total liabilities 852,518 938,162
Commitments and contingencies Stockholders' equity: Common stock,
$0.008 par; authorized 175,000 shares; issued and outstanding
61,600 and 61,599 shares at March 31, 2009 and September 30, 2008,
respectively 493 493 Capital in excess of par 142,065 140,990
Retained earnings 875,613 839,068 Accumulated other comprehensive
(loss) income (44,411) 17,645 Total stockholders' equity 973,760
998,196 Total liabilities and stockholders' equity $1,826,278
$1,936,358 NBTY, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH
FLOWS (UNAUDITED) (In thousands) Six Months ended March 31, 2009
2008 Cash flows from operating activities: Net income $36,545
$90,048 Adjustments to reconcile net income to cash provided by
operating activities: Impairments and disposals of property, plant
and equipment 688 482 Depreciation and amortization 34,800 27,655
IT project termination costs 4,667 - Foreign currency transaction
loss (gain) 6,669 (1,385) Stock-based compensation 1,069 518
Amortization of deferred charges 631 372 Allowance for doubtful
accounts 850 (174) Inventory reserves 7,177 2,465 Deferred income
taxes 383 903 Excess income tax benefit from exercise of stock
options - (4,984) Changes in operating assets and liabilities, net
of acquisitions: Accounts receivable (16,256) (153) Inventories
(57,941) (8,156) Other assets 10,568 4,241 Accounts payable 47,219
13,927 Accrued expenses and other liabilities (20,843) (10,946) Net
cash provided by operating activities 56,226 114,813 Cash flows
from investing activities: Purchase of property, plant and
equipment (35,639) (21,693) Purchase of available-for-sale
investments - (159,884) Proceeds from sale of available-for-sale
investments - 248,728 Cash paid for acquisitions, net of cash
acquired (264) (5,072) Escrow refund, net of purchase price
adjustments 11,989 - Net cash (used in) provided by investing
activities (23,914) 62,079 Cash flows from financing activities:
Principal payments under long-term debt agreements and capital
leases (16,785) (481) Proceeds from borrowings under the Revolving
Credit Facility 60,000 - Principal payments under the Revolving
Credit Facility (115,000) - Excess income tax benefit from exercise
of stock options - 4,984 Proceeds from stock options exercised 6
3,852 Purchase of treasury stock (subsequently retired) - (171,008)
Net cash used in financing activities (71,779) (162,653) Effect of
exchange rate changes on cash and cash equivalents (6,912) (2,233)
Net (decrease) increase in cash and cash equivalents (46,379)
12,006 Cash and cash equivalents at beginning of period 90,180
92,902 Cash and cash equivalents at end of period $43,801 $104,908
Contact: Harvey Kamil Carl Hymans NBTY, Inc. G.S. Schwartz &
Co. President and Chief Financial Officer 212-725-4500 631-200-2020
DATASOURCE: NBTY, Inc. CONTACT: Harvey Kamil, President and Chief
Financial Officer, NBTY, Inc., +1-631-200-2020, or Carl Hymans,
G.S. Schwartz & Co., +1-212-725-4500, Web Site:
http://www.nbty.com/
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