Alberto-Culver Reports Record Fiscal Third Quarter
Posted: July 27, 2006
Alberto-Culver Company announced record sales and record profits excluding non-core items for the third quarter and first nine months of fiscal year 2006, which ended on June 30, 2006.
Third quarter 2006 sales increased 6.0% to $952.7 million while pre-tax earnings, including non-core items, decreased 50.1% to $41.0 million. Net earnings including non-core items decreased 42.9% to $30.5 million. Diluted net earnings per share were 33 cents in the third quarter of 2006, after the deduction of 34 cents for fees and expenses related to the terminated agreement with Regis Corporation and the agreement with a fund managed by Clayton, Dubilier & Rice (CD&R). Sales for the first nine months of fiscal 2006 grew by 6.4% to $2.80 billion.
"We are very pleased with the results of our third quarter and first nine months of fiscal year 2006,” said Howard Bernick, president and CEO, Alberto-Culver. “We expect this fiscal year, which will end in just over nine weeks, will be our fifteenth consecutive year of record sales and record earnings for the Alberto-Culver Company."