Water Pik Technologies Reports Third Quarter Results
Oct 17, 2003
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Water Pik Technologies, Inc. announced sales for third quarter 2003 of U.S. $76.1 million, an increase of 12.2 percent compared to sales of $67.8 million for the same period of 2002. Income from continuing operations was $3.0 million or $0.24 per diluted share for third quarter 2003 as compared to income of $2.0 million or $0.16 per diluted share for third quarter 2002. Net income was $3.0 million or $0.24 per diluted share for third quarter 2003 as compared to net income of $1.7 million or $0.13 per diluted share for the same period of 2002.

Sales for the first 9 months of 2003 were $208.0 million, an increase of 5.5 percent as compared to sales of $197.2 million for the same period in 2002. Income from continuing operations was $5.1 million or $0.41 per diluted share for the first nine months of 2003 as compared to $6.5 million or $0.52 per diluted share for the same period of 2002. Net income was $5.0 million or $0.41 per diluted share for the first 9 months of 2003 as compared to net income of $5.3 million or $0.42 per diluted share for the same period in 2002.

Sales for the Personal Health Care segment were $30.8 million for third quarter 2003, a decrease of 7.5 percent compared to sales of $33.3 million for the same period in 2002. Sales for the Oral Health products category were $13.1 million, a decrease of $0.4 million compared to the same period last year. Sales for the Shower products category were $15.6 million, an increase of 8.3 percent compared to $14.4 million for the same period in 2002, due primarily to increased sales of AquaFall® and New Visions® showerheads. Sales for the Other products category were $2.1 million, a decrease of $3.3 million, due primarily to decreased sales of personal stress relief products which were higher in 2002 due to new product introductions and earlier timing of seasonal orders.

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