Chattem Narrows 2009 Outlook Following 1Q Results

CHATTANOOGA, Tenn. (AP) — Chattem Inc. said Tuesday, which makes toiletries and dietary supplements, narrowed its fiscal 2009 profit guidance Tuesday after its first-quarter profit fell short of Wall Street expectations.

The company expects profit between $4.80 and $4.90 per share, narrowed from prior guidance of $4.80 to $5 per share. Analysts polled by Thomson Reuters expect profit of about $4.60 per share.

The fiscal year ends in November.

During the first quarter, Chattem earned $1.07 per share, excluding charges, while Wall Street expected $1.13 per share.

The company's key brands include Gold Bond, ACT, Icy Hot and Cortizone-10.

Shares fell $2.19, or 4.2 percent, to $50.61 in premarket trading.