Personal care appliance maker Helen of Troy Limited reported sales for the fourth quarter ended Feb. 28, 2005 increased 13 percent to U.S. $127,617,000 up from $112,911,000 in the same period of 2004. Net earnings for the fourth quarter increased 59 percent to $11,984,000 versus $7,518,000 for the prior-year period.
Full-year net sales increased 22 percent to $581,549,000 from $474,868,000 in the prior year. Net earnings for the year were $76,450,000 compared to $60,522,000 in the prior year, an increase of 26 percent. Current and prior year period operating results reflect the discontinued operations related to the sale of Tactica International, Inc. effective April 29, 2004.
Helen of Troy also reported that during the quarter, the company settled the Internal Revenue Service tax audit for fiscal years 2000 through 2002 and has therefore decreased the previously provided tax reserves by $2 million related to those audits in the fourth quarter of fiscal 2005.
The company said sales for the full fiscal year 2006 are expected to be in the range of $615 million to $640 million, an increase of 6 to 10 percent. Full fiscal year diluted earnings per share are expected to be in the range of $2.50 to $2.60, an increase of 6 to 11 percent over prior year diluted earnings per share of $2.35.
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