Most Popular in:

Financials

Email This Item! Print This Item!

Alberto-Culver Reports Record Second Quarter; Increases Dividend by 13%

Posted: May 1, 2006
Alberto-Culver Company announced record sales and record profits for the second quarter and first half of fiscal 2006, which ended on March 31, 2006. Second quarter 2006 sales increased 7.1% to $946.8 million, while net earnings increased 15.8% to $56.9 million—including non-core items. Diluted net earnings per share were 61 cents in the current quarter, after the deduction of 2 cents for stock option expense and 1 cent for Sally spin/merge transaction costs, versus 53 cents per share last year after a 2 cent deduction for the non-cash charge relating to the conversion to a single class of stock.

Excluding non-core items, net earnings were up 16.5% in the second quarter to $59.9 million from $51.4 million in the prior year. Second quarter diluted net earnings per share were 64 cents compared to 55 cents in 2005 excluding the non-core items.

Sales for the fiscal 2006 first half grew by 6.6% to $1.85 billion. Net earnings for the first half including non-core items increased 10.6% to $109.0 million. Diluted net earnings per share for the current six month period were $1.17, after the deduction of 7 cents for stock option expense and 4 cents for Sally spin/merge transaction costs, versus $1.06 per share in the prior year after a 5 cent deduction for the non-cash charge relating to the conversion to a single class of stock.

Excluding non-core items, net earnings increased 15.2% in the first half to $119.0 million from $103.3 million in the prior year. First half diluted net earnings per share improved to $1.28 from $1.11 last year excluding the non-core items.