Helen of Troy Limited reported record net sales revenue and record net income for the second quarter and six months ended Aug. 31, 2010. Second quarter net sales revenue increased 7.8% to $174,823,000 versus net sales revenue of $162,193,000 in the same period of the prior year. Second quarter net income increased 47.5% to $23,473,000, compared with $15,911,000 for the same period a year earlier.
Net sales revenue for the six months ended Aug. 31, 2010 increased 9.4% to $334,976,000 versus $306,066,000 for the same period in the previous year. Net income for the first half of this fiscal year increased 37.6% to $41,860,000 or $1.34 per fully diluted share, versus $30,420,000 or $0.99 per fully diluted share in the same period of last year. Net sales revenue for the company's personal care business increased 6.7% to $119,119,000 in the second quarter(8.7% for the six month period ended Aug. 31, 2010) compared with $111,627,000 for the same period last year.
"We are extremely pleased with our record sales and record earnings results for the second quarter and fiscal year-to-date," said Gerald J. Rubin, president and CEO, Helen of Troy Limited. "We believe the company's core strengths remain strong, and we continue to execute our business plan for fiscal year 2011, as detailed in our fiscal year 2010 annual report. Our business plan includes introducing new product offerings, striving for increased market share through channel expansion and providing product innovation. We also continue to pursue further process efficiencies and related selling, general and administrative expense reductions. We believe we are well positioned as we move into the fall selling season."
The full release with statement of income is available from Helen of Troy.