Helen of Troy Ltd. (El Paso, TX, U.S.), maker of personal care appliances and small electric housewares appliances, reported record first quarter net sales revenue and record first quarter net income for the quarter ended May 31, 2011 (1Q for its fiscal year 2012).
Net sales revenue in the quarter was $271,467,000, up 69.5% from $160,153,000 in the same period of the prior year, due largely to the acquisition of Kaz on Dec. 31, 2010. First quarter net income was $24,605,000, or $0.78 per fully diluted share, compared with $18,387,000, or $0.59 per fully diluted share, for the same period in the prior year, an increase of 33.8% in net income.
Personal Care segment net sales revenue increased 9.3% in the quarter to $122,718,000 compared to $112,228,000 for the same period last year. Net sales revenue increased across all major product categories with a corresponding overall improvement in gross profit margin.
First quarter net sales revenue in the Housewares segment increased 10.5% to $52,946,000 compared to $47,925,000 for the same period last year.
The Healthcare/Home Environment segment net sales revenue for the first quarter was $95,803,000. Net sales revenue increased 7.2% in the first quarter when compared to its performance on a pro forma basis for the same period last year, prior to its acquisition.
Consolidated gross profit margin as a percentage of net sales revenue for the fiscal quarter ended May 31, 2011 decreased to 40.5% compared to 45.2% for the same period last year. The decline was primarily due to the dilutive impact of the Healthcare/Home Environment segment, whose overall gross profit margins are below those of our other two segments.
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