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Tactica sale

This article was originally published in The Rose Sheet

Executive Summary

Helen of Troy sells its 55% ownership interest in Tactica International depilatory business to brand's current operating management, company announces April 30. Firm had announced plans to evaluate "strategic alternatives" for Tactica in October (1"The Rose Sheet" Oct. 6, 2003, p. 7) In light of the sale, Helen of Troy is revising its fiscal Q4 (ended Feb. 29) and year-end guidance. Fourth quarter net income from core business activities is expected to be approximately $16 mil., with an $8.5 mil.-$9.5 mil. loss attributed to Tactica operations. Consolidated net earnings, which will be announced May 13, are anticipated to be $6.5 mil.-$7.5 mil. Helen of Troy forecasts full-year consolidated net earnings of $59.2 mil.-$60.2 mil. and net income from the core business of $71 mil., with Tactica recording a $10.8 mil.-$11.8 mil. loss...

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