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Alberto Culver Reports Q2 2009 Growth
Posted: April 27, 2009
Alberto Culver Company announced net sales for the second quarter decreased 1.4% to $344.3 million. Excluding the effect of foreign currency fluctuations and the acquisition of Noxzema, organic sales increased 6.3% in the second quarter. Pre-tax earnings from continuing operations increased 10.4% to $42.6 million, from $38.6 million in the prior year quarter.
Net sales for the first half increased 0.7% to $697.2 million from $692.6 million in the prior year. Reported net sales were reduced 9.7% by foreign currency fluctuations. Excluding the effect of foreign currency fluctuations and the acquisition of Noxzema, organic sales increased 7.9% in the first half. Pre-tax earnings from continuing operations increased 24.8% to $103.2.
"We continue to grow our market share in hair care and drive solid organic growth in what has been, by all accounts, a very challenging operating environment," said V. James Marino, president and CEO, Alberto Culver. "We're extremely pleased with our strong results through the first half of fiscal year 2009. The categories in which we compete, the channels in which we participate and the strong brands we offer provide us with a platform of relative strength and we believe that we can continue to win."