Helen of Troy Reports Record Q3 Sales and Earnings Jan 13, 2004

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Personal care appliance maker Helen of Troy Ltd. reported record sales and earnings for the third quarter and 9 months ended Nov. 30, 2003.

In the U.S. and abroad, third-quarter sales increased 25 percent to a record U.S. $179.2 million versus sales of $142.9 million for the same period of 2002. Third-quarter net earnings increased 49 percent to an approximate record $25.1 million or $0.78 per diluted share, from $16.7 million or $0.57 per diluted share for the same period in 2002.

Nine-month sales climbed 13 percent to a record $401.5 million from sales of $356.5 million from the same period in 2002. Net earnings for the 9 months ended Nov. 30, 2003 was $53 million or $1.71 per diluted share, versus $32.2 million or $1.09 per diluted share in the comparable 2002 period, representing a 64-percent increase in net earnings.

The company raised its fiscal year ending Feb. 29, 2004 earnings per diluted share guidance from the $1.85-$1.90 to $2.05-$2.10 range -- a 56- to 60-percent increase from the $1.31 rate in 2002.

The company also increased its projected earnings per diluted share for the fiscal year beginning March 1, 2004 from $2.15-$2.25 to $2.30-$2.40, while repurchasing 319,000 shares of its common stock at $22.58 per share.

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