Regis Q4 and full year
This article was originally published in The Rose Sheet
Executive Summary
Hair-care company's fourth-quarter sales totaled $675 mil., up 6.2% from the prior-year period; net income for the period was $27.9 mil., according to Aug. 22 release. Firm booked $2.6 bil. in full fiscal 2007 revenue. Net income for the year was $83.2 mil. - reduced by $19.6 mil. due to a non-cash write-off for goodwill impairment related to the merger of Regis beauty school division with Empire Education (1"The Rose Sheet" April 23, 2007, In Brief). The firm also recognized as income a $50 mil. termination fee from attempted merger with Alberto Culver, which fell through in April 2006, partially offset by $10.6 mil. in acquisition-related expenses (2"The Rose Sheet" April 10, 2006, p. 9). FY 2007 was "a very challenging period" for the industry, CEO Paul D. Finkelstein notes. "The reality of the product business is that it is much more competitive today." Nevertheless, Regis is "determined to improve the profitability and growth of [its] product business"...
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