NBTY Reports Record Second Quarter Sales Despite General Industry Weakness

Apr 26, 2001, 01:00 ET from NBTY, Inc.

    BOHEMIA, N.Y., April 26 /PRNewswire/ -- NBTY, Inc. (Nasdaq:   NBTY)
 (http://www.NBTY.com), a leading manufacturer and marketer of nutritional
 supplements in the United States and the United Kingdom, today announced
 financial results for the second quarter and six months ended March 31, 2001.
     For the second quarter ended March 31, 2001, NBTY reported net sales of
 $225 million, an increase of 12% over sales of $200 million reported for the
 second quarter last year.  Net income for the second quarter was $18 million,
 or 26 cents per diluted share, which equaled net income and earnings per share
 for the comparable period last year, which was a record quarter.
     For the six months ended March 31, 2001, net sales were $392 million, an
 increase of 5% from $371 million for the six months last year.  Net income for
 the current six-month period decreased 30% to $19 million, or 27 cents per
 diluted share, compared with net income of $26 million, or 38 cents per
 diluted share for the comparative period last year.
 
     Wholesale Operations -- Nature's Bounty
     Revenues for the Company's Nature's Bounty wholesale division increased
 36% for the second quarter compared to the second quarter last year.  The rise
 in revenues reflects an increase in the sales of core products and strong
 sales response to new product introductions.  While the Company is gaining
 market share, the gross profit declined to 37.7% in this second quarter as
 compared to 44.6% in the fiscal second quarter 2000.  Overall sales for the
 wholesale division are expected to increase due in part to the Company's
 increased emphasis in this sector and gains in market share.  The Company is
 utilizing consumer profile data and sales information from its Vitamin World
 operation to bring new products to market in the wholesale sector.
     Wholesale sales continued to benefit from the successful national
 advertising campaign for the Flex-A-Min(R) dietary supplement.  The campaign,
 which includes print and broadcast advertising, was created to help promote
 Flex-A-Min in the mass market.
     Sales for the second quarter increased despite a continued general
 weakness in the vitamin, mineral and nutritional supplement industry.
 Information Resources Inc. (IRI) data showed a continuing downward trend in
 sales in the drug, food and mass market sector.  IRI reported an industry
 decrease of 8.7% for the four weeks ended January 28, 2001, a decrease of 4.4%
 for the four weeks ended February 25, 2001, and a 4.2% decrease for the four
 weeks ended March 25, 2001.  Contrary to this industry trend, NBTY was
 reported by IRI to have had an increase in sales for the same periods of
 21.3%, 19% and 27% respectively.
 
     Retail Operations -- Vitamin World
     Revenues for NBTY's Vitamin World retail stores in the U.S. increased 16%
 in the second quarter compared to the second quarter a year ago.  Same store
 sales for stores open at least one year increased 0.3% during the second
 quarter of fiscal 2001 in contrast to the 11% decrease in same store sales for
 the first quarter of fiscal 2001.  Losses for the Vitamin World stores in the
 second quarter 2001 were $6 million, a decrease of more than 50% compared to
 the losses in the first quarter.  As previously announced, Vitamin World is
 not anticipated to be profitable in fiscal 2001.  The Company has scaled back
 plans for new store openings.
     Vitamin World continued to generate greater customer traffic, reflecting
 successful advertising and marketing programs including its Savings Passport
 Card, a customer loyalty program.  This program, which enrolled over one
 million customers, provides incentives for the consumer to purchase at Vitamin
 World and is an additional tool for the Company to track customer preferences
 and purchasing trends.
 
     Retail Operations -- Holland & Barrett
     Net sales at the Company's Holland & Barrett retail stores, the largest
 health food retail chain in the United Kingdom, increased 18% to $75 million
 in the second quarter of 2001 from $64 million in the second quarter a year
 ago.  Results continued to be hampered by the weakness of the British Pound.
 Holland & Barrett continues to benefit from greater in-house production from
 its new warehouse and packaging facility located in Burton-on-Trent, UK.
 
     Direct Response/E-commerce Operations
     Second quarter revenues from NBTY's Puritan's Pride direct
 response/e-commerce operations decreased 8% to $58 million from the comparable
 period last year.  However, operating profits remained the same compared to
 last year due to more efficient marketing and mailings.
     The number of products available via catalog and website continue to
 increase.  The Company remains the leader in the direct response/e-commerce
 channel.
 
     Summary
     NBTY Chairman and Chief Executive Officer Scott Rudolph stated, "NBTY
 generated strong sales despite the vitamin industry's current weakness.  The
 significant increase in sales from our wholesale division contributed
 substantially to the overall rise in second quarter sales.  We have become
 more competitive by increasing shelf space in the mass market.  We expect to
 generate increased sales from our wholesale division as we implement our
 strategic plan to improve operations.
     We believe that the Company will continue to expand its leadership
 position in the marketing of nutritional supplements.  We continue to explore
 acquisition opportunities, and we remain optimistic about the long term
 outlook for the Company."
 
     ABOUT NBTY
     NBTY is a leading vertically integrated U.S. manufacturer and retailer of
 a broad line of high-quality, value-priced nutritional supplements in the
 United States and throughout the world.  The Company markets more than
 1,000 products under several brands, including Nature's Bounty(R), Vitamin
 World(R), Puritan's Pride(R), Holland & Barrett(R), Nutrition Headquarters(R),
 American Health(R), Nutrition Warehouse(R) and Dynamic Essentials(R).
 
     This release contains certain forward-looking statements within the
 meaning of the Private Securities Litigation Reform Act of 1995 with respect
 to the financial condition, results of operations and business of the Company
 and the referenced acquisition.  All of these forward-looking statements,
 which can be identified by the use of terminology such as "subject to,"
 "believe," "expects," "may," "will," "should," or "anticipates," or the
 negative thereof, or variations thereon, or comparable terminology, or by
 discussions of strategy which, although believed to be reasonable, are
 inherently uncertain.  Factors that may affect such forward looking statements
 include (i) adverse publicity regarding the consumption of nutritional
 supplements; (ii) adverse federal, state or foreign legislation or regulation
 or adverse determinations by regulators; (iii) slow or negative growth in the
 nutritional supplement industry; (iv) inability of the Company to successfully
 implement its business strategy; (v) increased competition; (vi) increased
 costs; (vii) loss or retirement of key members of management; (viii) increases
 in the Company's cost of borrowings and unavailability of additional debt or
 equity capital; (ix) changes in general worldwide economic and political
 conditions in the markets in which the Company may compete from time to time;
 (x) the inability of the Company to assimilate acquisitions into the
 mainstream of its business; (xi) ability of the Company to gain and /hold
 market share of its wholesale and retail customers; (xii) unavailability of
 electricity in certain geographical areas; (xiii) exposure to, expense of
 defending and resolving, product liability claims and other litigation; (xiv)
 the Company's inability to manage growth and execute its business plan; (xv)
 the ability of the Company to manage its retail operations efficiently; (xvi)
 consumer acceptance of the Company's products; (xvii) uncertainty in
 negotiating and consummating acquisitions that may be subject to bankruptcy
 court approval and bidding process set by the bankruptcy court; (xviii) the
 ability of the Company to renew leases on its retail locations; (xix) the
 Company's ability to consummate future acquisitions; (xx) the absence of
 clinical trials for many of the Company's products; (xxi) sales and earnings
 volatility; (xxii) the Company's ability to manufacture its products
 efficiently; (xxiii) the rapidly changing nature of the internet and on-line
 commerce; (xxiv) fluctuations in foreign currencies, and more particularly the
 British Pound; (xxv) import-export controls on sales to foreign countries;
 (xxvi) the inability of the Company to secure favorable new sites for, and
 delays in opening, new retail locations; (xxvii) unavailability of, or
 inability to consummate, advantageous acquisitions in the future; (xxviii) the
 mix of the Company's products and the profit margins thereon; (xxix) the
 availability and pricing of raw materials; (xxx) other factors beyond the
 Company's control; and (xxxi) factors discussed in the Company's filings with
 the Securities and Exchange Commission.
     Readers are cautioned not to place undue reliance on forward-looking
 statements.  The Company undertakes no obligation to republish or revise
 forward-looking statements to reflect events or circumstances after the date
 hereof or to reflect the occurrences of unanticipated events.
 
                          NBTY, INC. and SUBSIDIARIES
                  CONDENSED CONSOLIDATED STATEMENTS OF INCOME
                                  (UNAUDITED)
 
     (Dollars and shares in thousands,
       except per share amounts)                      For the        For the
                                                   three months   three months
                                                       ended,         ended
                                                      March 31       March 31,
                                                       2001            2000
     Net sales                                       $224,775       $200,107
 
     Cost and expenses:
       Cost of sales                                   97,804         84,153
       Catalog printing, postage and promotion         11,701          9,604
       Selling, general and administrative             82,345         72,334
 
                                                      191,850        166,091
 
     Income from operations                            32,925         34,016
 
     Other income (expense):
       Interest, net                                  (4,865)        (4,739)
       Miscellaneous, net                               1,123            828
                                                      (3,742)        (3,911)
 
     Income before income taxes                        29,183         30,105
 
     Income taxes                                      11,235         12,042
 
     Net income                                       $17,948        $18,063
 
     Net income per share:
       Basic                                            $0.27          $0.27
       Diluted                                          $0.26          $0.26
 
     Weighted average common shares outstanding:
       Basic                                           65,273         67,200
       Diluted                                         69,620         69,630
 
                          NBTY, INC. and SUBSIDIARIES
 
                  CONDENSED CONSOLIDATED STATEMENTS OF INCOME
 
                                  (UNAUDITED)
 
      (Dollars and shares in thousands,
        except per share amounts)
                                                      For the        For the
                                                    six months     six months
                                                      ended,          ended
                                                     March 31        March 31
                                                       2001            2000
 
     Net sales                                       $391,604       $371,279
 
     Cost and expenses:
       Cost of sales                                  172,309        165,096
       Catalog printing, postage and promotion         27,411         17,889
       Selling, general and administrative            154,376        136,258
 
                                                      354,096        319,243
 
     Income from operations                            37,508         52,036
 
     Other income (expense):
       Interest, net                                  (9,835)        (9,425)
       Miscellaneous, net                               2,549          1,523
                                                      (7,286)        (7,902)
 
     Income before income taxes                        30,222         44,134
 
     Income taxes                                      11,636         17,654
 
     Net income                                       $18,586        $26,480
 
     Net income per share:
       Basic                                            $0.28          $0.40
       Diluted                                          $0.27          $0.38
 
     Weighted average common shares outstanding:
       Basic                                           66,162         66,659
       Diluted                                         69,342         68,869
 
                          NBTY, INC. and SUBSIDIARIES
                     CONDENSED CONSOLIDATED BALANCE SHEETS
 
                                     ASSETS
 
     (Dollars and shares in thousands)
                                                      March 31,   September 30,
                                                        2001           2000
                                                     (Unaudited)
     Current assets:
       Cash and cash equivalents                      $43,379        $31,464
 
     Accounts receivable, less allowance for
      doubtful accounts of $1,216 at
      March 31, 2001 and $1,227 at
      September 30, 2000.                              33,572         24,913
 
     Inventories                                      147,339        130,741
 
     Deferred income taxes                              3,549          3,549
 
     Prepaid property taxes, rent,
      and other current assets                         17,561         20,269
 
         Total current assets                         245,400        210,936
 
     Property, plant and equipment                    334,182        326,010
       less accumulated depreciation
        and amortization                              125,976        111,846
                                                      208,206        214,164
 
     Intangible assets, net                           163,259        172,124
 
     Other assets                                       8,227          6,389
 
         Total assets                                $625,092       $603,613
 
                          NBTY, INC. and SUBSIDIARIES
                     CONDENSED CONSOLIDATED BALANCE SHEETS
 
                      LIABILITIES AND STOCKHOLDERS' EQUITY
 
     (Dollars and shares in thousands)               March 31,    September 30,
                                                        2001            2000
                                                   (Unaudited)
     Current liabilities:
       Current portion of long-term debt
        and capital lease obligations                 $12,746        $12,829
       Accounts payable                                59,699         61,100
       Accrued expenses and income taxes               49,708         36,893
         Total current liabilities                    122,153        110,822
 
     Long-term debt                                   214,680        199,095
     Obligations under capital leases                     884          1,383
     Deferred income taxes                             16,939         17,050
     Other liabilities                                  2,807          2,820
         Total liabilities                            357,463        331,170
 
     Commitments and contingencies
 
     Stockholders' equity:
     Common stock, $0.008 authorized; 175,000
      shares; issued 68,519 shares at March 31,
      2001 and 68,524 shares at September 30, 2000
      and outstanding 65,261 shares at March 31,
      2001 and 68,289 shares at September 30, 2000.       548            548
 
       Capital in excess of par                       123,785        123,798
       Retained earnings                              181,886        163,300
                                                      306,219        287,646
     Less: 3,258 and 235 treasury shares at cost, on
       March 31, 2001 and September 30, 2000
        respectively                                 (17,211)        (1,512)
       Stock subscriptions receivable                   (839)          (839)
       Accumulated other comprehensive loss          (20,540)       (12,852)
         Total stockholders' equity                   267,629        272,443
 
     Total liabilities and stockholders' equity      $625,092       $603,613
 
                     MAKE YOUR OPINION COUNT -- Click Here
                http://tbutton.prnewswire.com/prn/11690X51882672
 
 

SOURCE NBTY, Inc.
    BOHEMIA, N.Y., April 26 /PRNewswire/ -- NBTY, Inc. (Nasdaq:   NBTY)
 (http://www.NBTY.com), a leading manufacturer and marketer of nutritional
 supplements in the United States and the United Kingdom, today announced
 financial results for the second quarter and six months ended March 31, 2001.
     For the second quarter ended March 31, 2001, NBTY reported net sales of
 $225 million, an increase of 12% over sales of $200 million reported for the
 second quarter last year.  Net income for the second quarter was $18 million,
 or 26 cents per diluted share, which equaled net income and earnings per share
 for the comparable period last year, which was a record quarter.
     For the six months ended March 31, 2001, net sales were $392 million, an
 increase of 5% from $371 million for the six months last year.  Net income for
 the current six-month period decreased 30% to $19 million, or 27 cents per
 diluted share, compared with net income of $26 million, or 38 cents per
 diluted share for the comparative period last year.
 
     Wholesale Operations -- Nature's Bounty
     Revenues for the Company's Nature's Bounty wholesale division increased
 36% for the second quarter compared to the second quarter last year.  The rise
 in revenues reflects an increase in the sales of core products and strong
 sales response to new product introductions.  While the Company is gaining
 market share, the gross profit declined to 37.7% in this second quarter as
 compared to 44.6% in the fiscal second quarter 2000.  Overall sales for the
 wholesale division are expected to increase due in part to the Company's
 increased emphasis in this sector and gains in market share.  The Company is
 utilizing consumer profile data and sales information from its Vitamin World
 operation to bring new products to market in the wholesale sector.
     Wholesale sales continued to benefit from the successful national
 advertising campaign for the Flex-A-Min(R) dietary supplement.  The campaign,
 which includes print and broadcast advertising, was created to help promote
 Flex-A-Min in the mass market.
     Sales for the second quarter increased despite a continued general
 weakness in the vitamin, mineral and nutritional supplement industry.
 Information Resources Inc. (IRI) data showed a continuing downward trend in
 sales in the drug, food and mass market sector.  IRI reported an industry
 decrease of 8.7% for the four weeks ended January 28, 2001, a decrease of 4.4%
 for the four weeks ended February 25, 2001, and a 4.2% decrease for the four
 weeks ended March 25, 2001.  Contrary to this industry trend, NBTY was
 reported by IRI to have had an increase in sales for the same periods of
 21.3%, 19% and 27% respectively.
 
     Retail Operations -- Vitamin World
     Revenues for NBTY's Vitamin World retail stores in the U.S. increased 16%
 in the second quarter compared to the second quarter a year ago.  Same store
 sales for stores open at least one year increased 0.3% during the second
 quarter of fiscal 2001 in contrast to the 11% decrease in same store sales for
 the first quarter of fiscal 2001.  Losses for the Vitamin World stores in the
 second quarter 2001 were $6 million, a decrease of more than 50% compared to
 the losses in the first quarter.  As previously announced, Vitamin World is
 not anticipated to be profitable in fiscal 2001.  The Company has scaled back
 plans for new store openings.
     Vitamin World continued to generate greater customer traffic, reflecting
 successful advertising and marketing programs including its Savings Passport
 Card, a customer loyalty program.  This program, which enrolled over one
 million customers, provides incentives for the consumer to purchase at Vitamin
 World and is an additional tool for the Company to track customer preferences
 and purchasing trends.
 
     Retail Operations -- Holland & Barrett
     Net sales at the Company's Holland & Barrett retail stores, the largest
 health food retail chain in the United Kingdom, increased 18% to $75 million
 in the second quarter of 2001 from $64 million in the second quarter a year
 ago.  Results continued to be hampered by the weakness of the British Pound.
 Holland & Barrett continues to benefit from greater in-house production from
 its new warehouse and packaging facility located in Burton-on-Trent, UK.
 
     Direct Response/E-commerce Operations
     Second quarter revenues from NBTY's Puritan's Pride direct
 response/e-commerce operations decreased 8% to $58 million from the comparable
 period last year.  However, operating profits remained the same compared to
 last year due to more efficient marketing and mailings.
     The number of products available via catalog and website continue to
 increase.  The Company remains the leader in the direct response/e-commerce
 channel.
 
     Summary
     NBTY Chairman and Chief Executive Officer Scott Rudolph stated, "NBTY
 generated strong sales despite the vitamin industry's current weakness.  The
 significant increase in sales from our wholesale division contributed
 substantially to the overall rise in second quarter sales.  We have become
 more competitive by increasing shelf space in the mass market.  We expect to
 generate increased sales from our wholesale division as we implement our
 strategic plan to improve operations.
     We believe that the Company will continue to expand its leadership
 position in the marketing of nutritional supplements.  We continue to explore
 acquisition opportunities, and we remain optimistic about the long term
 outlook for the Company."
 
     ABOUT NBTY
     NBTY is a leading vertically integrated U.S. manufacturer and retailer of
 a broad line of high-quality, value-priced nutritional supplements in the
 United States and throughout the world.  The Company markets more than
 1,000 products under several brands, including Nature's Bounty(R), Vitamin
 World(R), Puritan's Pride(R), Holland & Barrett(R), Nutrition Headquarters(R),
 American Health(R), Nutrition Warehouse(R) and Dynamic Essentials(R).
 
     This release contains certain forward-looking statements within the
 meaning of the Private Securities Litigation Reform Act of 1995 with respect
 to the financial condition, results of operations and business of the Company
 and the referenced acquisition.  All of these forward-looking statements,
 which can be identified by the use of terminology such as "subject to,"
 "believe," "expects," "may," "will," "should," or "anticipates," or the
 negative thereof, or variations thereon, or comparable terminology, or by
 discussions of strategy which, although believed to be reasonable, are
 inherently uncertain.  Factors that may affect such forward looking statements
 include (i) adverse publicity regarding the consumption of nutritional
 supplements; (ii) adverse federal, state or foreign legislation or regulation
 or adverse determinations by regulators; (iii) slow or negative growth in the
 nutritional supplement industry; (iv) inability of the Company to successfully
 implement its business strategy; (v) increased competition; (vi) increased
 costs; (vii) loss or retirement of key members of management; (viii) increases
 in the Company's cost of borrowings and unavailability of additional debt or
 equity capital; (ix) changes in general worldwide economic and political
 conditions in the markets in which the Company may compete from time to time;
 (x) the inability of the Company to assimilate acquisitions into the
 mainstream of its business; (xi) ability of the Company to gain and /hold
 market share of its wholesale and retail customers; (xii) unavailability of
 electricity in certain geographical areas; (xiii) exposure to, expense of
 defending and resolving, product liability claims and other litigation; (xiv)
 the Company's inability to manage growth and execute its business plan; (xv)
 the ability of the Company to manage its retail operations efficiently; (xvi)
 consumer acceptance of the Company's products; (xvii) uncertainty in
 negotiating and consummating acquisitions that may be subject to bankruptcy
 court approval and bidding process set by the bankruptcy court; (xviii) the
 ability of the Company to renew leases on its retail locations; (xix) the
 Company's ability to consummate future acquisitions; (xx) the absence of
 clinical trials for many of the Company's products; (xxi) sales and earnings
 volatility; (xxii) the Company's ability to manufacture its products
 efficiently; (xxiii) the rapidly changing nature of the internet and on-line
 commerce; (xxiv) fluctuations in foreign currencies, and more particularly the
 British Pound; (xxv) import-export controls on sales to foreign countries;
 (xxvi) the inability of the Company to secure favorable new sites for, and
 delays in opening, new retail locations; (xxvii) unavailability of, or
 inability to consummate, advantageous acquisitions in the future; (xxviii) the
 mix of the Company's products and the profit margins thereon; (xxix) the
 availability and pricing of raw materials; (xxx) other factors beyond the
 Company's control; and (xxxi) factors discussed in the Company's filings with
 the Securities and Exchange Commission.
     Readers are cautioned not to place undue reliance on forward-looking
 statements.  The Company undertakes no obligation to republish or revise
 forward-looking statements to reflect events or circumstances after the date
 hereof or to reflect the occurrences of unanticipated events.
 
                          NBTY, INC. and SUBSIDIARIES
                  CONDENSED CONSOLIDATED STATEMENTS OF INCOME
                                  (UNAUDITED)
 
     (Dollars and shares in thousands,
       except per share amounts)                      For the        For the
                                                   three months   three months
                                                       ended,         ended
                                                      March 31       March 31,
                                                       2001            2000
     Net sales                                       $224,775       $200,107
 
     Cost and expenses:
       Cost of sales                                   97,804         84,153
       Catalog printing, postage and promotion         11,701          9,604
       Selling, general and administrative             82,345         72,334
 
                                                      191,850        166,091
 
     Income from operations                            32,925         34,016
 
     Other income (expense):
       Interest, net                                  (4,865)        (4,739)
       Miscellaneous, net                               1,123            828
                                                      (3,742)        (3,911)
 
     Income before income taxes                        29,183         30,105
 
     Income taxes                                      11,235         12,042
 
     Net income                                       $17,948        $18,063
 
     Net income per share:
       Basic                                            $0.27          $0.27
       Diluted                                          $0.26          $0.26
 
     Weighted average common shares outstanding:
       Basic                                           65,273         67,200
       Diluted                                         69,620         69,630
 
                          NBTY, INC. and SUBSIDIARIES
 
                  CONDENSED CONSOLIDATED STATEMENTS OF INCOME
 
                                  (UNAUDITED)
 
      (Dollars and shares in thousands,
        except per share amounts)
                                                      For the        For the
                                                    six months     six months
                                                      ended,          ended
                                                     March 31        March 31
                                                       2001            2000
 
     Net sales                                       $391,604       $371,279
 
     Cost and expenses:
       Cost of sales                                  172,309        165,096
       Catalog printing, postage and promotion         27,411         17,889
       Selling, general and administrative            154,376        136,258
 
                                                      354,096        319,243
 
     Income from operations                            37,508         52,036
 
     Other income (expense):
       Interest, net                                  (9,835)        (9,425)
       Miscellaneous, net                               2,549          1,523
                                                      (7,286)        (7,902)
 
     Income before income taxes                        30,222         44,134
 
     Income taxes                                      11,636         17,654
 
     Net income                                       $18,586        $26,480
 
     Net income per share:
       Basic                                            $0.28          $0.40
       Diluted                                          $0.27          $0.38
 
     Weighted average common shares outstanding:
       Basic                                           66,162         66,659
       Diluted                                         69,342         68,869
 
                          NBTY, INC. and SUBSIDIARIES
                     CONDENSED CONSOLIDATED BALANCE SHEETS
 
                                     ASSETS
 
     (Dollars and shares in thousands)
                                                      March 31,   September 30,
                                                        2001           2000
                                                     (Unaudited)
     Current assets:
       Cash and cash equivalents                      $43,379        $31,464
 
     Accounts receivable, less allowance for
      doubtful accounts of $1,216 at
      March 31, 2001 and $1,227 at
      September 30, 2000.                              33,572         24,913
 
     Inventories                                      147,339        130,741
 
     Deferred income taxes                              3,549          3,549
 
     Prepaid property taxes, rent,
      and other current assets                         17,561         20,269
 
         Total current assets                         245,400        210,936
 
     Property, plant and equipment                    334,182        326,010
       less accumulated depreciation
        and amortization                              125,976        111,846
                                                      208,206        214,164
 
     Intangible assets, net                           163,259        172,124
 
     Other assets                                       8,227          6,389
 
         Total assets                                $625,092       $603,613
 
                          NBTY, INC. and SUBSIDIARIES
                     CONDENSED CONSOLIDATED BALANCE SHEETS
 
                      LIABILITIES AND STOCKHOLDERS' EQUITY
 
     (Dollars and shares in thousands)               March 31,    September 30,
                                                        2001            2000
                                                   (Unaudited)
     Current liabilities:
       Current portion of long-term debt
        and capital lease obligations                 $12,746        $12,829
       Accounts payable                                59,699         61,100
       Accrued expenses and income taxes               49,708         36,893
         Total current liabilities                    122,153        110,822
 
     Long-term debt                                   214,680        199,095
     Obligations under capital leases                     884          1,383
     Deferred income taxes                             16,939         17,050
     Other liabilities                                  2,807          2,820
         Total liabilities                            357,463        331,170
 
     Commitments and contingencies
 
     Stockholders' equity:
     Common stock, $0.008 authorized; 175,000
      shares; issued 68,519 shares at March 31,
      2001 and 68,524 shares at September 30, 2000
      and outstanding 65,261 shares at March 31,
      2001 and 68,289 shares at September 30, 2000.       548            548
 
       Capital in excess of par                       123,785        123,798
       Retained earnings                              181,886        163,300
                                                      306,219        287,646
     Less: 3,258 and 235 treasury shares at cost, on
       March 31, 2001 and September 30, 2000
        respectively                                 (17,211)        (1,512)
       Stock subscriptions receivable                   (839)          (839)
       Accumulated other comprehensive loss          (20,540)       (12,852)
         Total stockholders' equity                   267,629        272,443
 
     Total liabilities and stockholders' equity      $625,092       $603,613
 
                     MAKE YOUR OPINION COUNT -- Click Here
                http://tbutton.prnewswire.com/prn/11690X51882672
 
 SOURCE  NBTY, Inc.