Article: The Stephan Co. Reports Sales and Earnings for Quarter Ended March 31, 2003.

The Stephan Co. today reported its financial results for the quarter ended March 31, 2003. Net sales for the first quarter ended March 31, 2003 were $6,949,000, compared to $6,320,000 reported in the first quarter of 2002. Earnings before income taxes and cumulative effect of change in accounting principle was $780,000, as compared to $524,000 for the quarter ended March 31, 2002. Income before the effect of the cumulative change in accounting principle for the quarter ended March 31, 2003 was $480,000, as compared to $327,000 achieved in the first quarter of 2002, however implementation of SFAS No. 142 resulted in a write down of $6,762,000, net of taxes, ($1.58 per ...

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