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REGIONAL EARNINGS

Earnings Drop for Maker of Personal Care Products

May 04, 1993

St. Ives Laboratories Inc., a Chatsworth maker of shampoos and other personal-care products, said its first-quarter net income fell 30% from a year ago on a 19% sales gain.

In the quarter ended March 31, St. Ives' net income dropped to $890,000 from $1.3 million. The company cited increased marketing expenditures and an accounting change that increased its provision for income taxes.

St. Ives said its sales in the latest quarter rose to $39.5 million from $33.3 million, boosted by the greater marketing expenditures.

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