SLGD -.03 to 1.22, looks undervalued but the new distribution agreement with Church and Dwight adds risk .... I'd guess that C&D has not yet begun distributing to non-specialty retailers, but if and when they do it could result in a big hit to sales for SLGD - dry shampoo was 65% of Q1 revenue.
per the 10K -
Under our new distribution agreement with Church & Dwight that became effective on January 1, 2015, we are the exclusive distributor of Batiste Dry Shampoo products in the specialty retailer channel in the United States. The specialty retailer channel includes primarily beauty supply stores, such as Ulta, our largest customer, apparel retailers, department stores, hair salons and distributors to hair salons. Church & Dwight retained the rights to sell Batiste products to the remainder of the market in the United States.