St. Ives Laboratories Profit Declines 45%
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St. Ives Laboratories Inc., a Chatsworth-based maker of skin-care products, said its first-quarter profits for the three months that ended March 31 were $488,000, down 45% from $890,000 for the same period the previous year. Revenue in the first quarter was $42.65 million, up 8% from $39.54 million the year before.
The company attributed the results to increased selling expenses and the cost of repairing facilities damaged in the Northridge earthquake.
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