Quigley reports 21.9% loss in net sales

DOYLESTOWN, Pa. Quigley on Thursday reported net sales of $5 million for the quarter ended Sept. 30, down 21.9% compared with the year-ago period.

“During the third quarter of 2009 we worked diligently to create a strong foundation for the company's future,” Ted Karkus, Quigley chairman and CEO, told analysts Thursday morning. Karkus had assumed control of Quigley in June, after successfully leading a group of shareholders to oust Quigley’s board and management at the time.

Since taking over in June, Karkus noted he has been working “day and night” for the company, personally meeting with retailers in an attempt to reclaim private-label orders and shelf-space for its primary brand Cold-Eeze. He reported having success in that endeavor at one major retailer during the conference call, though he did not identify the retailer.

As for Cold-Eeze, Karkus suggested there may be some significant changes in store for the Cold-Eeze brand. “We have projects underway to improve our product packaging, product positioning and the communication of the Cold-Eeze message to consumers,” he said. “We are looking for opportunities for future growth that may include expanding our OTC new product pipeline, product acquisitions and other line and brand extensions.”