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Q: Annual sales for specialty skin care brands ( Answered 4 out of 5 stars,   0 Comments )
Question  
Subject: Annual sales for specialty skin care brands
Category: Miscellaneous
Asked by: dth2001-ga
List Price: $75.00
Posted: 22 Apr 2005 13:08 PDT
Expires: 22 May 2005 13:08 PDT
Question ID: 512825
I would like to know estimated 2004 US sales for any of the following
skin care brands:  Pevonia, CA Botana, Dr. Brandt, Jan Marini, Obagi,
Skinceuticals, Murad, DDF, SkinMedica, NV Perricone, Dermalogica, GM
Collin.  If projections for 2005 and beyond are available, that'd be
even better.
Answer  
Subject: Re: Annual sales for specialty skin care brands
Answered By: wonko-ga on 04 May 2005 12:30 PDT
Rated:4 out of 5 stars
 
These appear to be private companies, which means that financial
information is not publicly available in most cases.  Fortunately,
SkinMedica has just filed the paperwork for an initial public
offering, so they have had to reveal considerable financial
information.

"SkinMedica, a developer of products to treat dermatological
conditions and to improve skin appearance, filed for its IPO Wednesday
evening. The Carlsbad, CA-based company currently has 2 pharmaceutical
(one of which is the only approved prescription available that has
been clinically shown to reduce the growth of facial hair on women)
and 19 cosmetic products that generated $22.1 million in sales for the
FY ended December 2004. SkinMedica, nevertheless, has not turned a
profit in its brief operating history (Incorporated in 1999).
Underwriting the deal will be SG Cowen, Piper Jaffray, Thomas Weisel,
and CE Unterberg Towbin. Terms and timing have yet to be announced."

"Skin product maker SkinMedica files for IPO" Renaissance Capital's
IPOhome.com (April 27, 2005)
http://www.ipohome.com/marketwatch/iponews2.asp?article=4371

              2000       2001        2002        2003         2004
Net Revenues $ 483     $ 1,267     $ 6,780     $ 13,122     $ 22,059
(in thousands of dollars)

Source: "Form S-1" SkinMedica, Inc. (April 27, 2005)
http://www.sec.gov/Archives/edgar/data/1187545/000119312505086916/0001193125-05-086916.txt

"Technology Fast 500" Deloitte (2004)
http://www.deloitte.com/dtt/cda/doc/content/2004%20Fast%20500%20Winners%20Booklet%20FINAL-low%281%29.pdf

They might make projections as part of their IPO road show, so you may
want to look for those materials prior to the IPO.

I also found limited information about Obagi, primarily using
materials from its aborted IPO in 2001.

"In the last 7 years, Obagi?s revenues have grown consistently at
above +20% per year."

"Obagi Medical Products Presents Key Business Results At JP Morgan
Healthcare Conference" Obagi Medical Products (March 9, 2005)
http://www.obagi.com/article/aboutobagisystem/newsandpr/pressreleases/jpmorgan.html

If you want to try to estimate current Obagi revenues, you can apply
the 20% growth rate to the figures available here, which cover 1995
through the first three quarters of 2000:

"S-1/A" OMP INC (February 7, 2001)
http://www.hoovers.com/free/co/secdoc.xhtml?ID=102722&ipage=1314090&doc=1&num=23

Sincerely,

Wonko

Clarification of Answer by wonko-ga on 04 May 2005 12:45 PDT
Some additional information for SkinMedica to clarify how the revenue
is divided among the US and international, as well as between
pharmaceuticals and cosmetic products.

Sincerely,

Wonko

"The Company sells its products primarily within the United States.
For the years ended December 31, 2003 and 2004, international sales
accounted for 3% and 2%, respectively. The Company did not record
international sales in 2002."

                           2003     2004
Pharmaceutical products    $ 1.1    $ 6.3 
Cosmeceutical products      12.0      15.8 
(in millions of dollars)

Source: "Form S-1" SkinMedica, Inc. (April 27, 2005)
http://www.sec.gov/Archives/edgar/data/1187545/000119312505086916/0001193125-05-086916.txt

Request for Answer Clarification by dth2001-ga on 04 May 2005 13:39 PDT
Thanks for the research, wonko.  This is very helpful and timely.  For
the Obagi data, are you able to find out just US sales for 1995-2000Q3
from the S-1?  Also, just out of curiosity have you done general Lexis
or lit/web searches to see if any of these companies revenues are
mentioned in passing?

Thanks again!

Clarification of Answer by wonko-ga on 04 May 2005 14:41 PDT
The Obagi Form S-1 does not contain more current data.  Since they did
not go public, they are not obligated to release financial information
subsequently.

I do not have access to LEXIS-NEXIS.  I did do searches in Google, as
well as visit the companies' web sites, to find the information I
presented.  I did not read all of the individual articles in fashion
magazines that some of the sites provide links to because the few I
sampled were not relevant in that sense.

Sincerely,

Wonko

Request for Answer Clarification by dth2001-ga on 05 May 2005 10:58 PDT
For Obagi, I was asking not for more current figures, but I was
wondering if they broke out US revenues from worldwide revenues, like
SkinMedica.  The Obagi link you included was worldwide revenues. 
Thanks!

Clarification of Answer by wonko-ga on 05 May 2005 11:20 PDT
Sorry for the misunderstanding.  Here you go:

"Domestic revenue increased $4.1 million, or 31%, to
$17.3 million in 1999 from $13.2 million in 1998 on the strength of increased
sales of Nu-Derm products to dermatologists and plastic surgeons in the United
States."

"International revenues increased $2.0 million, or 53%, to
$5.8 million in 1999 from $3.8 million in 1998."

"S-1/A" OMP INC (February 7, 2001)
http://www.hoovers.com/free/co/secdoc.xhtml?ID=&ipage=1314090&doc=1%20
dth2001-ga rated this answer:4 out of 5 stars
Information provided was excellent--very thorough and timely.  Even
though these are private companies, I was hoping you'd be able to dig
up revenues for some of the other companies somewhere on the web. 
Wishful thinking, perhaps.

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