Battery and shaver manufacturer Energizer Holdings, Inc. announced that earnings for the first quarter ended Dec. 31, 2004 were U.S. $121.7 million, or $1.62 per diluted share, versus net earnings of $115.0 million, or $1.32 per diluted share in the first fiscal quarter of 2004. Last year's first quarter included previously unrecognizable tax benefits of $6.7 million, or $0.08 per share.
For the quarter, sales increased 8 percent to $875.9 million and segment profit increased 13 percent to $215.1 million due to improvements in all three segments. Favorable currency translation accounted for $23.8 million of the sales increase and $10.2 million of the segment profit increase, the company said. On a constant currency basis, sales and segment profit increased 5 percent and 8 percent, respectively. General corporate and other expenses increased $9.3 million, and interest and other financing items increased $2.6 million.
"We are encouraged by the first quarter results and the balance of our growth between businesses and geographies," said Ward Klein, newly appointed CEO. "The innovative new products launched over the past two years, including QUATTRO and Intuition shaving systems and Energizer e2 Lithium AAA batteries, are contributing to our growth. We are pleased about our product portfolio and the overall position of the company."
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