Printer Friendly

HELEN OF TROY REPORTS SHARP INCREASES IN 2ND QUARTER/6 MONTHS EARNINGS

 HELEN OF TROY REPORTS SHARP INCREASES
 IN 2ND QUARTER/6 MONTHS EARNINGS
 EL PASO, Texas, Oct. 8 /PRNewswire/ -- Helen of Troy Corporation (NASDAQ: HELE), designer, developer and marketer of personal care products, today reported net earnings increases for the second quarter and six months ended Aug. 31, and also reported record sales for the second quarter.
 Net sales were a record $36,332,000 for the second quarter vs. $31,294,000 in last year's same quarter, a 16 percent increase. Fiscal 1993 second quarter net earnings were $2,654,000 compared with net earnings of $1,883,000 for the same period in the prior year, a 41 percent increase. Per share earnings rose to 36 cents per share from 27 cents per share, a 33 percent increase quarter to quarter.
 Net sales for the six months were $65,368,000 compared with $55,708,000 for the same period in the prior year, a 17 percent increase. Six months net earnings rose to $4,404,000 compared with net earnings of $2,705,000 for the same period in the prior year, a 63 percent increase. Per share earnings increased to 60 cents per share from 40 cents per share, a 50 percent increase during the same period.
 Per share figures were adjusted for a 3-for-2 stock split paid as a 50 percent stock dividend on Oct. 1.
 Gerald J. Rubin, chairman and chief executive officer, pointed out that "these results are consistent with the pattern of sales and earnings growth established earlier in the year and we anticipate continued gains in the second half."
 He added that the sales increases "were due largely to sales of Vidal Sassoon hair care appliances and brushes and combs in the U.S. Although there was some contribution from our new Sable line of personal hair care products for African-Americans, the bulk of those increases will come later in the year in the wake of our intensive advertising and promotional campaign.
 "We have started selling Vidal Sassoon hair care appliances in Europe for the first time, and we expect those sales to make a significant impact on our business in calendar 1993," Rubin pointed out.
 He explained that expense controls and decreased interest costs, chiefly from decreasing borrowings and lower interest rates, contributed to earnings gains in this year's first half.
 Helen of Troy products -- hair dryers, curling irons and other hairstyling implements, hairsetters, lighted mirrors and brushes and combs -- are sold primarily under the trade names Vidal Sassoon, Helen of Troy and Sable.
 HELEN OF TROY CORPORATION
 Comparative Analysis (Unaudited)
 Three months ended 8/31/92 8/31/91
 Net sales $36,332,000 $31,294,000
 Net earnings 2,654,000 1,883,000
 Earnings per share (a) $ .36 $ .27
 Weighted average shares
 outstanding (a) 7,315,656 6,843,071
 Six months ended 8/31/92 8/31/91
 Net sales $65,368,000 $55,708,000
 Net earnings 4,404,000 2,705,000
 Earnings per share (a) $ .60 $ .40
 Weighted average shares
 outstanding (a) 7,336,295 6,776,085
 (a) Adjusted for 3-for-2 stock split paid as a 50 percent stock dividend Oct. 1, 1992.
 -0- 10/8/92
 /CONTACT: Zeke Rose of Porter, Le Vay & Rose, 212-564-4700, for Helen of Troy Corporation/
 (HELE) CO: Helen of Troy Corporation ST: Texas IN: SU: ERN


BR-BN -- NY077 -- 7991 10/08/92 15:27 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 8, 1992
Words:568
Previous Article:WILLCOX & GIBBS' STOCKHOLDERS APPROVE CDME TRANSACTION
Next Article:J. WALTER THOMPSON INTRODUCES MAJOR NEW CAMPAIGN FOR THE PRODIGY SERVICE: 'THE NETWORK OF ACTIVE MINDS'
Topics:


Related Articles
HELEN OF TROY THIRD QUARTER EARNINGS JUMP 94 PERCENT
HELEN OF TROY REPORTS YEAR END/FOURTH QUARTER SALES AND EARNINGS
Helen of Troy results rise, new products set to bow.
Helen of Troy record sales.
Helen of Troy sales records.
Helen of Troy sales, net up in qtr., half.
HELEN OF TROY REPORTS RECORD SALES.
Helen of Troy Limited Reports Record First Quarter Sales and Net Earnings Increase of 51.5%.
Helen of Troy Limited Reports Sales and Earnings for Fourth Quarter and Fiscal Year 2008.
Helen of Troy Limited Reports Record First Quarter Sales.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters