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Alberto-Culver Reports Q3
Posted: July 28, 2008Alberto-Culver announced record sales and earnings from continuing operations for its third quarter and first nine months of fiscal year 2008. Net sales for the third quarter increased 12.3% to $364.9 million from $325.0 million in the previous year quarter. Net sales for the first nine months of fiscal year 2008 increased 10.6% to $1.06 billion from $955.7 million in the previous year. As a result of the pending divestiture of Cederroth International, continuing operations excludes the results for Cederroth, which are included in discontinued operations.
Pre-tax income from continuing operations increased 29.9% to $42.7 million from $32.9 million in the previous year quarter. Excluding restructuring and other expenses of $2.7 million in the current quarter and $1.4 million in the previous year quarter, pre-tax earnings from continuing operations increased 32.4% to $45.4 million compared to $34.3 million in the previous year quarter.
"In a challenging economic environment, we were able to deliver another record quarter of sales and earnings growth," said V. James Marino, president and CEO, Alberto-Culver. "Our strong results in the quarter, which were in line with our expectations, were driven mainly by growth in our core beauty care brands in the U.S. and international markets. TRESemme generated another exceptional quarter of sales growth, showing continued strength in our core markets while also being launched in Spain. Other beauty brands including St. Ives, Alberto VO5 and Nexxus also grew during the quarter. These are very strong results, especially when considering the U.S. and UK hair care categories are a bit soft."
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