Helen of Troy Reports Q1

Helen of Troy Limited reported record first quarter sales and an earnings increase of 28.9%, excluding significant items for the quarter ended May 31, 2008. First quarter sales increased 3.4% to a record $145,003,000 versus sales of $140,170,000 in the same period of the previous year. First quarter net earnings were $5,558,000, or $0.18 per fully diluted share, compared with $10,117,000 or $.32 per fully diluted share for the same period in the previous year.

“We are very pleased with our record sales for the first quarter. During the period our sales increased in our housewares segment and held steady in our personal care segment," said Gerald J. Rubin, chairman, CEO and president, Helen of Troy. “As of May 31, 2008, Helen of Troy’s balance sheet remained strong, with cash, trading securities, temporary and long-term investments of $97.4 million. We continue to execute our strategic plan for fiscal year 2009. The economic environment continues to remain challenging. As a major leader in our product categories to our retail partners, we believe we are poised to effectively react to changes in the marketplace as they occur. We stand ready to take advantage of improvements in the future retail environment."

The complete report is available here.