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Energizer Personal Care Helps Carry Q4 2012 Results, Announces Restructure Plans
Posted: November 9, 2012
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Net sales for the fiscal year ended September 30, 2012 increased 1.2% on a reported basis, which includes a full twelve months for ASR in fiscal 2012 as compared to only ten months in fiscal 2011, due to the timing of the acquisition. On an organic basis, net sales increased 0.6% due to:
- net sales in wet shave, inclusive of the ASR impact, increased 3% on a reported basis and 5% excluding the impact of unfavorable currencies. This growth was driven by increased sales of Schick Hydro and the launches of Schick Hydro 5 Power Select and Hydro Silk women's systems offset by lower sales of legacy branded men's and women's systems; and
- net sales in skin care increased approximately 1% primarily on higher sales of sun care in international markets.
Segment profit for the quarter was $109.5 million, up 40.4% including the unfavorable impact of currencies. Operationally, segment profit increased $36.5 million, or 46.8%, due to lower planned A&P spending in the quarter as the Schick Hydro launch cycle matured.
The company's initial financial outlook for adjusted, diluted earnings per share is $6.75 to $7.00. This outlook includes estimated net pre-tax restructuring savings of $25–35 million for fiscal 2013 and does not include any share repurchases during the fiscal year. Overall, the company expects low-single digit sales growth in fiscal 2013. Within personal care, it expects mid-single digit sales growth driven by innovation across its categories, especially in wet shave and skin care.