TORONTO – Coolbrands International Inc. (search) slipped into a loss in the second-quarter on lower sales and a $6.2 million write-down related to its severed partnership with Weight Watchers International Inc. (WTW), the maker of frozen desserts said on Thursday.
Mississauga, Ontario-based Coolbrands, the maker of Eskimo Pie (search), said it lost $3.97 million, or 7 cents a share, for the three months to Feb. 28, down from a year earlier profit of $9.47 million, or 17 cents a share.
Excluding write-offs, Coolbrands said it would have earned nil cents a share.
Revenue fell 17 percent to $87.6 million because of a higher than expected drop-off in sales of its Weight Watchers' Smart Ones (search) brand, declining sales in its Atkins brand and super premium pint brands.
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