Helen of Troy Ltd., maker of small electric housewares and personal care appliances, reported record net sales revenue and record net income for the third quarter and nine months ended Nov. 30, 2011.
Fiscal 2012 3Q net sales revenue was $338,785,000, up from $205,001,000 in the same period of the prior year – a 65.3% increase due largely to the acquisition of Kaz, Inc. on Dec. 31, 2010. Third quarter net income was $32,879,000, up 21.5% from $27,063,000, in the same period last year.
Net sales revenue for the nine months was $887,672,000 versus $539,977,000 in the same period of the prior year, an increase of 64.4% - again, largely due to the Kaz acquisition. Net income for the first nine months of the fiscal year was $81,077,000, up 17.6% from $68,923,000 for the same period in the prior year.
"Operating income increased by 32.6 and 25.5%, respectively, for the three- and nine-months ended November 30, 2011," said Gerald J. Rubin, chairman, CEO, and president.
He said the integration and expansion of HoT's business in the Healthcare / Home Environment segment is progressing according to plan. He said the PUR home water filtration business – acquired Dec. 30, 2011 - will be operated as part of our Healthcare / Home Environment segment.
Consolidated gross profit margins as a percentage of net sales were down for the quarter and the nine-month period, Rubin said – which was anticipated due to the dilutive impact of the Healthcare/Home Environment segment, with gross profit margins below those of other HoT businesses.
Rubin said the company sees domestic and global economic indicators providing "mixed signals" regarding economic recovery.
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