Consolidated selling, general and administrative expenses increased by $8.2 million, to $12.2 million, for the thirteen weeks ended March 26, 2007, compared to $4.0 million for the comparable period in the prior year.
Contributing to the increase were factors associated with the acquired Coty brands, including $2.3 million from the amortization of intangible assets identified as part of the purchase price allocation, $1.8 million in costs related to services provided by Coty under a transition services agreement, and $1.0 million in advertising and consumer promotion in support of the acquired brands.
Additional expenses contributing to the increase compared to the prior period were executive salaries and bonuses of $1.4 million, non-cash stock compensation expense of $.6 million, severance of $.2 million and higher salaries, travel and rent of $.6 million.
Ascendia Brands Inc is a leader in the value and premium value segments of the health and beauty care products sector. In November 2005, Ascendia expanded its range of product offerings through the acquisition of a series of brands.
marketing@alchempro.com
