Carrington Labs Marks Profitable 2Q, Caraloe Sales Falter

Carrington Labs Marks Profitable 2Q, Caraloe Sales Falter

IRVING, Texas--Carrington Laboratories Inc. (NASDAQ:CARN) reported increased earnings on declined revenues for its second quarter ended June 30, while its subsidiary, Caraloe Inc., logged decreased sales. Overall, company revenues fell to $4.3 million from $5.5 million sold a year ago, but operating cost reductions offset the expected top line decrease. Net income improved to $.06 million or $.01 per share from a net loss of $.68 million or $.07 per share for the same period last year.

Caraloe, the company's raw materials and consumer products subsidiary, contributed sales of $1.7 million, a drop from $2.5 million sold in the same quarter in fiscal 2000. The decrease was attributed to continued decreased ordering from a major raw materials customer. However, sales of the AloeCeuticals brand products grew 29.2 percent in the quarter, compared to the same period a year ago.