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Alberto-Culver sales up 4.5% to $445.4 mil. in first quarter in "tough" environment.

This article was originally published in The Rose Sheet

Executive Summary

ALBERTO-CULVER NET SALES UP 4.5% TO $445.4 MIL. in the first quarter of fiscal 1998 (ended Dec. 31) compared to sales of $426.1 mil. in the same quarter of FY 1997, Alberto-Culver announced Jan. 22. The company attributed a major portion of its growth to the Sally Beauty Company division, which reported a double-digit sales increase. Net earnings rose 17.4% to $19.7 mil. from $16.8 mil. in the year-ago quarter, excluding an after-tax gain of $9.8 mil. in FY 1997 related to an insurance payment following the crash of a corporate airplane. The "increases were achieved in a tough competitive environment and in the face of material impact from lower currency rates internationally," President and CEO Howard Bernick observed at a same-day annual shareholders meeting.
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