Prestige Brands drops 14% on bleak Q1 outlook

Prestige Brands Holdings Inc. (NYSE:PBH) has lost more than 14% in today’s trading after announcing before the open its first-quarter revenues and net income will decline 7% from the previous year. The Irvington, N.Y.-based company sells over-the-counter health care products. Prestige Brands said the decreases were due to poor pricing dynamics in the cryogenic segment of the over-the-counter wart treatment category. A line of the company’s pediatric cough and cold products were voluntarily removed from the shelves in fall of 2007, and Prestige Brands is still feeling the pinch from it, the company said. Prestige Brands will report its fiscal first-quarter earnings on Aug. 7 before the market opening.

In today’s trading, shares are at $9.92 at 2:18 p.m. ET, down $1.62 from Tuesday’s close. Shares have ranged from $6.01 to $13.62 during the past year.

For detailed price information and recent news stories about Prestige Brands Holdings Inc., click PBH.

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