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Alberto-Culver Reports 3rd Quarter
Posted: July 30, 2007Alberto-Culver Company announced that net sales for the third quarter increased 9.2% to $385.5 million and pre-tax income from continuing operations increased 38.5% to $34.2 million. Diluted earnings per share from continuing operations increased 9.1% to 24 cents. Earlier in 2007, the company split its consumer products business and its Sally/BSG distribution business into two separate public companies.
“Overall, this was a strong record quarter for Alberto-Culver and its shareholders," said V. James Marino, president and CEO, Alberto-Culver. "This quarter’s results were driven mainly by TRESemmé and Nexxus, which both continue to outperform category growth rates. The momentum of these two brands remains strong. We are particularly pleased with our recent TRESemmé expansion into Latin America and the continued growth of TRESemmé in our existing markets. Aside from TRESemmé and Nexxus, our Alberto VO5 business is in a much better position today than it was a year ago. This fiscal year we restaged the U.S. shampoo and conditioner business and we are beginning to see improvements in consumption trends. Our new initiatives for St. Ives skin care have had success in facial and body wash categories, but results in lotions has been a challenge. We are taking steps to enhance the long-term equity of St. Ives.”