NBTY Inc. (NTY) reported better-than-expected preliminary fiscal third-quarter results, sending its shares higher by nearly 4% so far today.
The maker of nutritional supplements said quarterly sales rose 22% to $653 million, topping Wall Street expectations.
The revenue growth was largely driven by the acquisition of Leiner Health Products last year. NBTY recorded a growth of 40% in its wholesale and US nutrition business.
The company also stated that North American retail sales increased 2% to $51 million, while European retail sales grew 4% to $151 million.
Meanwhile, the consensus estimate for the fiscal year ending September 2009 has moved up a penny over the past month to $1.72 per share, as 1 of 6 covering analysts revised higher.
NTY, a Zacks #2 Rank (“Buy”) stock, is trading on heavier-than-normal volume of approximately 790,000, against the average daily volume of about 390,000.
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