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Jan 29 (Reuters) - Consumer-goods maker Chattem Inc CHTT.O posted fourth-quarter profit above analysts’ expectations, driven by higher sales of the five brands it acquired from Johnson & Johnson (JNJ.N).
Chattem, which acquired brands like sleep aid Unisom and anti-itch medication Cortizone from Johnson and Johnson, also raised its fiscal 2008 profit view, citing the strength of its big brands, new product line and expected gross margin improvement.
Shares of the company, which makes and markets over-the-counter drugs, toiletries, cosmetics and dietary supplements, rose 5 percent to $71.30 in trading before the bell on the Nasdaq.
Chattanooga, Tennessee-based Chattem now sees fiscal 2008 profit, excluding items, to a range of $4.00 to $4.20 a share, up from $3.90 to $4.10 a share. Analysts were expecting $3.83 a share.
For the latest fourth quarter, the company’s net income tripled to $14.8 million, or 76 cents a share. Excluding items, it earned 81 cents a share.
Chattem, whose big brands include toiletry product Gold Bond and topical pain reliever Icy Hot, said total revenue jumped 55 percent to $100.6 million.
Analysts on average had expected earnings of 65 cents a share, before items, on revenue of $100.5 million, according to Reuters Estimates. (Reporting by Dhanya Skariachan in Bangalore; Editing by Amitha Rajan)