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NBTY revises net income higher on reduced UK tax rates

NBTY said on Thursday that it was revising

NBTY said on Thursday that it was revising higher the net income it reported in three prior fiscal years and its most recent quarter. The upward revisions totaled more than $22.5 million. Photo Credit: Randee Daddona

Ronkonkoma-based vitamin and dietary supplement company NBTY Inc. said on Thursday that it was revising higher the net income it reported in three prior fiscal years and its most recent quarter. The upward revisions totaled more than $22.5 million.

The revisions to fiscal years 2011, 2012, 2013 and first quarter of 2016 are a result of lower income tax expense, NBTY spokeswoman Jodi Katz said. The United Kingdom lowered its corporate income tax rates in 2011, 2012, 2013 and November 2015, she said.

“Our decision to make this filing is driven by ensuring transparency for our investors,” the company said in a statement.

Fiscal year 2011 net income was boosted by $5.28 million, increasing the net income to $35.20 million. Fiscal year 2012 was adjusted higher by $5.11 million, to $151.58 million. Fiscal year 2013 net was increased by $7.43 million to $136.91 million. Net income in the first quarter for fiscal year 2016 was raised $4.68 million to $8.62 million.

NBTY, whose brands include Nature’s Bounty, Ester-C, Osteo Bi-Flex, and Balance Bar, is owned by the Carlyle Group, a Washington, D.C.-based investment fund. The company discloses its financial results because its debt is publicly traded.

Earlier this year, NBTY sold retailer Vitamin World, including its headquarters in Bohemia and 378 stores, to Manhattan-based private equity firm Centre Lane Partners LLC for about $25 million.

NBTY employs about 13,000 people globally, of whom 6,000 are in the United States, including 2,600 on Long Island.

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