Helen of Troy
This article was originally published in The Rose Sheet
Executive Summary
Firm aims to build Idelle Labs division, which comprises grooming, skin care and hair care brands, in fiscal 2006, and will consider strategic personal care acquisitions, President & CEO Gerald Rubin reports during May 12 analyst call. Helen of Troy's personal care business struggled in fiscal Q4 (ended Feb. 28), with sales down 11% to $100.5 mil. Company expects the revitalization of the Brut men's grooming range and Sea Breeze skin care brand will help drive the segment going forward (1"The Rose Sheet" April 25, 2005, p. 9 and 2"The Rose Sheet" Jan. 17, 2005, p. 7). Net sales increased 13% to $127.6 mil. in Q4, while net earnings grew 59.4% to nearly $12 mil. However, net earnings from continuing operations fell 26.5% due to factors such as higher interest expense related to increased debt levels resulting from the June acquisition of OXO, firm says. Full-year sales grew 22.5% to $581.6 mil., and net earnings were up 26.5% to $76.5 mil. Net earnings from continuing operations grew 7.1%...
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