Helen of Troy Q4 Results Better than Expected
May 9, 2006
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Personal care appliances producer Helen of Troy Limited (El Paso, Texas, U.S.) said today that sales in the fourth quarter ended Feb. 28, 2006 increased 5.4 percent to U.S. $134,508,000 from $127,617,000 in the same period of the prior year. Net earnings for the fourth quarter were $6,645,000 or $0.21 per diluted share versus $11,984,000 or $0.37 per diluted share for the prior year quarter. Fourth quarter sales were led by increased sales from OXO International, which was integrated into Helen of Troy in the last year, as well as in retail appliances and Latin American markets.

Full year net sales increased to $589,747,000 from $581,549,000 in the prior year. Net earnings for the year were $49,310,000 or $1.56 per diluted share compared with $76,450,000 or $2.35 per diluted share in the prior year. For the full year sales were led by increased sales from OXO, Latin America and Canada.

Gerald J. Rubin, chairman, CEO and president, said the company was pleased that fourth quarter results exceeded expectations. "In spite of a very challenging retail environment in the personal care segment over the past year, we were able to successfully complete several of the corporate initiatives we identified as objectives for the fiscal year," he said.

"We are expecting to see improvements in overall financial results for fiscal year 2007. We anticipate that those improvements will occur in the second half of the fiscal year, as we continue to believe that personal care sales will be flat to slightly higher, with higher selling, general and administrative expenses during the first half of our 2007 fiscal year," he added.

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