Hair-Care Firm Posts 55% Jump in Net Income
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St. Ives Laboratories Inc., a Chatsworth-based hair-care products company, reported net income for the first quarter ended March 31 of $1.04 million, up 55% from $671,265 a year earlier.
St. Ives’ revenue, helped by increased sales of its Swiss Formula Hair Care products in Europe, rose 10% to $26.6 million from $24.3 million in the first quarter of 1990.
The latest quarter’s results mark the continued recovery of St. Ives, which ran into trouble early last year when it introduced a new packaging format that wasn’t popular with consumers. It has since changed the packaging.
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