IVC Reports Improvement
VC Industries here, a manufacturer of branded and private-label vitamins and nutritional supplements, has announced that sales for the third quarter ended April 30 grew by 38%, to $35 million, from $25.4 million a year ago.
Net income more than doubled, to $702,000, or 4 cents per diluted share, from $337,000, or 2 cents per diluted share, in 1997.
In a statement, the company cited the improved performance of its soft gelatin encapsulation division, an increase in private-label sales, and recent acquisitions in explaining its positive results.
"Our strong sales performance during the quarter in part reflected the heavy promotional activities by certain private brand customers," said I. Alan Hirschfeld, executive vice president.
IVC distributes products under the Fields of Nature and Nature's Wonder brands, among others. Private-label accounts include Pathmark Stores, Woodbridge, N.J.
