Personal-care and household-products maker Helen of Troy Ltd. said that its third-quarter net income was nearly flat. Profit for the quarter ended Nov. 30 edged up less than 1% to US$22.8 million, or $0.73 per share, from $22.8 million, or $0.72 per share in the prior-year quarter. Revenue fell nearly 2% to $210.3 million from $213.4 million a year ago. Houseware sales grew 19% to $47.4 million, but personal-care sales fell 6% to $163 million.
"Our personal-care segment is facing a challenging sales environment, which we anticipate will continue through at least the first half of this calendar year," said Gerald J. Rubin, chairman, chief executive and president.
Due to the quarterly results and weak environment, the company cut earnings and sales guidance for the year.