WaterPik Technologies Inc. reported third-quarter 2002 sales of U.S. $67.8 million, a decrease of 7.9 percent, compared with sales of $73.6 million for the same period in 2001. Net income decreased 10.5 percent to $1.7 million, or %0.13 per diluted share, for the quarter as compared with net income of $1.9 million, or $0.16 per diluted share, for the same quarter last year.
The company noted net income for the third quarter of 2001 would have been $2.3 million if stated on a comparable basis to third-quarter 2002 results, which exclude goodwill amortization in accordance with new accounting standards. Third-quarter 2002 earnings before interest, taxes, depreciation and amortization showed a decrease of 6.6 percent, coming in at $5.7 million, compared with $6.1 million for the same quarter in 2001.
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