Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Helen of Troy Reports Record Sales and Earnings for First Quarter
Jul 9, 2003
 Printable format
 Email this Article
 Search

Helen of Troy Limited today reported record sales and earnings for the quarter ended May 31, 2003.

The personal care appliance maker reported that sales increased 4 percent to a first quarter record of U.S. $106.500 million versus sales of $102.5 million in the same period of the prior year. First quarter net income increased 125 percent to a record $14.8 million or $0.50 per diluted share, compared with $6.6 million or $0.22 per diluted share for the same period a year earlier.

On June 17, 2003, Helen of Troy settled pending litigation and included the proceeds from this settlement in Other Income. The effect of the settlement was to increase earnings by approximately $0.08 per share. Earnings for the quarter were $0.42 per share, excluding this transaction.

Gerald J. Rubin, Helen of Troy's chairman, CEO, and president stated: "This marks our tenth consecutive year of first quarter sales increases, and we are extremely pleased with the results achieved in this difficult retail sales environment. Sales increased in every segment of our business, excluding Tactica. Our sales leaders include the International division, the Professional division, retail personal care products and Idelle Labs skin and hair care products. First quarter sales excluding Tactica increased by 20 percent to $91.2 million. Excluding Tactica and our new Idelle Labs division, Helen of Troy sales increased by 7.9 percent to $82.1 million versus $76.1 million for last year's first quarter.

"Gross margins increased to 49.6 percent from 48.3 percent last year. First quarter operating income increased 5.4 percentage points to 15.2 percent of net sales from 9.8 percent a year ago. First quarter net income increased 7.5 percentage points to 13.9 percent from 6.4 percent a year ago."

He continued: "For the fiscal year ending Feb. 28, 2004, we expect overall sales to increase 9 to 12 percent, to a range of $500 to $515 million. We are raising our fiscal year earnings per share guidance to $1.75 to $1.80, from $1.45 to $1.50, or 34 to 37-percent increase from prior fiscal year's earnings per share of $1.31. Year-over-year sales have increased in 34 of the past 37 quarters, with net income increasing in 33 of these 37 quarters, which we believe demonstrates a consistent financial performance during the past nine years. Because of our continuing confidence in the future performance of the company, our Board of Directors' has authorized a Stock Repurchase Program consisting of 3,000,000 shares, effective immediately."

Back to Daily News

 

Daily News

...........................................................

Jul 24, 2014: Remodeling Spending to Be Slower, But Still Strong, in Early 2015

Jul 23, 2014: Whirlpool North America Reports Record Operating Profits

Jul 23, 2014: Japan Destroyed 3.6 Million KG Fluorocarbons from Commercial Refrigerators and AC

Jul 22, 2014: Lennox International Reports Record Profit in Second Quarter

Jul 22, 2014: Whirlpool Launches Hybrid Heat Pump Dryer

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

March 2014: Market Research - 62nd Annual U.S. Appliance Industry Forecast
February 2014: Appliance Magazine Market Insight: December 2013
January 2014: Market Research - Appliance Historical Statistical Review: 1954-2012
January 2014: Appliance Magazine Market Insight: November 2013




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Pharmalive | Plastics Today | Powder Bulk Solids | Canon Trade Shows