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Daily News

Helen of Troy Reports Record Results
Nov 14, 2012
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Small appliance maker Helen of Troy Limited (El Paso, TX, U.S.) reported record net sales revenue and record operating income for its fiscal second quarter and the first half of its fiscal year.

Helen of Troy's fiscal 2013 second quarter ended Aug. 31, 2012 with net sales revenue up by $9,991,000, or 3.6%, to $287,411,000, from $277,420,000 in 2Q of the previous fiscal year.

Net sales revenue for the first six months of the fiscal year was $587,622,000, up from $548,887,000, for an increase of $38,735,000 or 7.1%.

HoT's Housewares business segment: Fiscal 2013 2Q net sales revenue increased $722,000, or 1.1%, to $64,570,000, up from $63,848,000 in 2Q of the previous year. HoT called it a modest gain hurt by the acceleration of some sales: some sales that historically took place in 2Q actually occurred in the first quarter. For the six month period, net sales revenue increased $8,025,000, or 6.9%, to $124,819,000, up from $116,794,000 for the same period last year.

HoT's Personal Care business segment: Fiscal 2013 2Q net sales revenue was down $2,932,000, or 2.5%, to $112,364,000, from $115,296,000 last year, hurt by a difficult retail environment in the U.S., challenging macroeconomic conditions internationally, and other challenges. For the six months, net sales revenue was down $8,098,000, or 3.4%, to $229,916,000, from $238,014,000 for the same period last year.

HoT's Healthcare/Home Environment business segment: Fiscal 2013 2Q net sales revenue in the Healthcare/Home Environment segment increased $12,201,000, or 12.4%, to $110,477,000, from $98,276,000 for the same period last year. This reflects the addition of $26,252,000 of net sales revenue from HoT's acquisition of the PUR water filtration business on Dec. 30, 2011. For the six months, net sales revenue was up $38,808,000, or 20.0%, to $232,887,000 compared with $194,079,000 for the same period last year, reflecting $50,543,000 of additional net sales revenue from PUR. The core business in this segment was negatively impacted by the difficult retail environment in the U.S. and Europe, as well as the impact of high inventory levels at retail due to the warm winter and mild cold and flu season experienced last year.

Net income for the corporation as a whole in the second quarter of fiscal 2013 was $22,968,000, compared to $23,593,000 in the prior year second quarter, a decrease of $625,000 or 2.6%.

For the six months, net income was $46,440,000, compared to $48,198,000 in the same period last year, for a decrease of $1,758,000 or 3.6%.

"During the second quarter, we achieved record net sales revenue and record operating income," said Gerald J. Rubin, chairman, CEO and president. "Similar to other global consumer products companies, we faced many challenges in light of continuing consumer uncertainty and global economic problems."

HoT still expects net sales revenue for fiscal year 2013 to be from $1.3 billion to $1.325 billion.

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