Redken’s Annual Profits Rise 149%; Sales Up 16%
- Share via
Redken Laboratories, the Canoga Park hair-care firm, reported a 149% increase in profits on a 16% jump in sales for its fiscal year ended July 31. Net income was $4.88 million or $1.62 per share in fiscal 1987, compared to $1.96 million or 65 cents a share the previous year. Sales for the year were $119.6 million compared to $103.2 million in 1986.
In the fourth quarter, the company reported profits of $1.56 million or 52 cents per share compared to $311,000 or 10 cents a year the prior year. Sales increased by 11% to $31.6 million.
Company Chairman John E. Meehan attributed part of the improved profits to the weaker dollar, which helped spur sales in foreign markets.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
