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Helen of Troy Sees Record-breaking Revenues
Posted: January 6, 2012
Helen of Troy Limited reported record net sales revenue and record net income for the third quarter and nine months ended Nov. 30, 2011. Third quarter net sales revenue was $338,785,000 versus net sales revenue of $205,001,000 in the same period of the prior year, an increase of $133,784,000, or 65.3%, due largely to its acquisition of small home appliance manufacturer Kaz, Inc. Net sales revenue for the nine months ended Nov. 30, 2011 was $887,672,000 versus net sales revenue of $539,977,000 in the same period of the prior year, an increase of $347,695,000, or 64.4%, also due largely to the Kaz acquisition.
Net sales revenue for the company’s personal care segment increased 1.7% to $148,984,000 in the third quarter of fiscal 2012 compared with $146,506,000 for the same period last year. Net sales revenue for the personal care division increased 2.4% to $386,998,000 for the nine months ended Nov. 30, 2011, compared to $377,853,000 for the same period last year.
Gerald J. Rubin, Helen of Troy chairman, CEO and president, stated, “We are pleased with our record sales and record earnings for the third quarter and year to date given a challenging retail environment. Operating income increased by 32.6 and 25.5%, respectively, for the three- and nine-months ended Nov. 30, 2011.
“While domestic and global economic indicators continue to provide mixed signals regarding economic recovery, the company’s core strengths endure, and we continue to execute on our business plan. Our business plan includes investment in new product line development, sourcing and product cost management initiatives to partially offset commodity and other cost increases, implementation of numerous productivity initiatives to control operating expense, and continued pursuit of additional acquisitions of complementary businesses or product lines. We confirm our previously issued fully diluted earnings per share guidance of $3.40 to $3.50 for fiscal year 2012, ending on Feb. 29, 2012. We are confident that we will continue our leadership position in providing innovative products in order to serve our retail partners and consumers,” Rubin concluded.