Physicians Formula Holdings, Inc. (Holdings) is a cosmetics company, which specializes in developing and marketing products for the mass market channel. The Company's products focus on addressing skin imperfections. Its products address specific, everyday cosmetics needs and include face powders, bronzers, concealers, blushes, foundations, eye shadows, eye liners, brow makeup and mascaras. The Company sells its products to mass market channel to retailers, such as Wal-Mart, Walgreens, CVS, Target and Rite Aid. As of December 31, 2008, its products were sold in approximately 29,500 of the 45,000 stores. Holdings’ develops, manufactures and markets a selection of products in three cosmetics categories: face makeup, eye makeup and others.