Prestige Brands' First Quarter Up 20%

Prestige Brandshas reported a 20% rise in first-quarter net income from continuing operations amid strength in its core over-the-counter healthcare business.
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NEW YORK (TheStreet) -- Prestige Brands (PBH) - Get Report has reported a 20% rise in first-quarter net income from continuing operations amid strength in its core over-the-counter healthcare business.

Net income from continuing operations for the first quarter was $9.6 million, or 19 cents a share, vs. net income of $8 million or 16 cents a share the previous year and the consensus estimate 16 cents.

Revenue was 3% higher at $73.4 million vs. the average analyst estimate of $70.34 million.

During the quarter, Prestige Brands saw OTC segment revenue rise by 10%, driven by sales of Clear Eyes, Compound W, Wartner, New Skin, Murine Tears, Percogesic, and Sleep-Eze in Canada. These gains were partially offset by decreases on the company's Allergen Block products and Earigate.

Revenue for Prestige Brands' household segment was 3% less than a year ago, as a sales increase at its Spic and Span brand was offset by declines at its Comet and Chore Boy brands.

Personal care revenue was 22% below the prior year's amid distribution losses for the Cutex brand in the fall of 2010.

Prestige Brands stock is up 1.7% to $8.21 in Thursday afternoon trading.

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-- Reported by Andrea Tse in New York

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