Small appliances producer Helen of Troy reported record fourth quarter net sales revenue and net income, and record net sales revenue and net income for the fiscal year ended February 28, 2011.
Fourth quarter net sales revenue increased 55.8% to $237,066,000, up from $152,161,000 in the same period of the prior year. Fourth quarter net sales revenue in the Housewares segment increased 9.1% to $54,557,000 compared to $50,028,000 for the same period last year.
Net sales revenue in the Personal Care segment increased 11.0% to $113,362,000 in the fourth quarter compared to $102,133,000 for the same period last year.
Fiscal year net sales revenue increased 20% to $777,043,000 from $647,626,000 in the prior fiscal year. Net sales revenue in the Housewares segment for the fiscal year increased 9.2% to $216,681,000 compared to $198,475,000 for the same period last year. Net sales revenue in the Personal Care segment for the fiscal year increased 9.4% to $491,215,000 compared to $449,151,000 for the same period last year, primarily reflecting acquisitions.
Helen of Troy completed the acquisition of personal care appliances maker Kaz, Inc., on Dec. 31, 2010, and created HoT's new Healthcare/Home Environment segment. Kaz provides healthcare and home environment appliances such as humidifiers, dehumidifiers, vaporizers, thermometers, air purifiers, fans, portable heaters, heating pads, and electronic mosquito traps. Kaz brands include Vicks, Braun, Honeywell, SoftHeat, Duracraft, and Stinger. Net sales revenue for this new segment for the quarter and fiscal year ending February 28, 2011 for the two month period was $69,147,000.
Net income for the fourth quarter was $24,382,000, compared to $16,664,000 in the prior year fourth quarter.
Net income for the fiscal year was $93,305,000, compared to $71,817,000 in the prior fiscal year, an increase in net income of 29.9%.
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