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ALBERTO-CULVER REPORTS RECORD SECOND QUARTER SALES AND EARNINGS; DECLARES DIVIDEND

 MELROSE PARK, Ill., April 23 /PRNewswire/ -- The Alberto-Culver Company (NYSE: ACVA, ACV) today reported a better-than-anticipated earnings increase of ten percent in the second quarter despite slower than expected sales growth of five percent. Significant currency devaluations in Europe had a material negative effect on the company's operating results. Had foreign currencies remained at 1992 levels, the corporation would have shown a ten percent sales increase as well as stronger earnings.
 Sales for the quarter ended March 31, 1993 increased 5.2 percent to $288.5 million, compared with $274.2 million for the same period in 1992. Net earnings increased 10 percent to $11.2 million or 39 cents per share compared to $10.2 million or 36 cents per share for the second quarter of 1992. Both the sales and earnings totals represented second quarter records for the company.
 Six-month sales increased 7.1 percent to $557.9 million from $520.8 million. As earlier projected by the company, earnings for the six months were relatively flat year to year, reflecting previously announced increased investment spending for marketing in support of consumer products worldwide in the first half of the fiscal year. Net profit for the first half of fiscal 1993 was $19.8 million, or 69 cents per share, a one percent increase over the previous year's $19.6 million, also 69 cents per share.
 Leonard H. Lavin, chairman and chief executive officer, said the second quarter numbers reflected "impressive performances" by the company's professional products division and by its Cederroth International subsidiary. Lavin said the relaunch of the company's VO5 products in Scandinavia using the Cederroth sales force was "exceeding expectations."
 The company's Sally Beauty Company subsidiary reported double digit sales and profit growth despite a late-quarter snowstorm which closed over 300 Sally stores for a weekend.
 "Year-to-date we are on target," Lavin commented, "however, in the face of the ongoing economic softness in a number of markets for all consumer product companies, we must continue to work harder and smarter to produce sales and earnings growth."
 The company today also declared its regular quarterly dividend of 6.5 cents per share on both its Class A and Class B common stock, payable May 20, 1993 to shareholders of record April 30, 1993.
 THE ALBERTO-CULVER COMPANY
 Three months ended March 31 1993 1992
 Net sales $288,474,000 274,199,000
 Earnings before income taxes $ 17,591,000 16,406,000
 Provision for income taxes 6,344,000 6,182,000
 Net earnings $ 11,247,000 10,224,000
 Earnings per share $.39 .36
 Weighted average shares outstanding 28,748,000 28,320,000
 Six months ended March 31 1993 1992
 Net sales $557,949,000 520,814,000
 Earnings before income taxes $ 31,128,000 30,992,000
 Provision for income taxes 11,279,000 11,401,000
 Net earnings $ 19,849,000 19,591,000
 Earnings per share $.69 .69
 Weighted average shares outstanding 28,676,000 28,280,000
 -0- 4/23/93
 /CONTACT: Daniel Stone, 708-450-3005, or Nancy Shields, 708-450-3142, both of Alberto-Culver/
 (ACV)


CO: Alberto-Culver Company ST: Illinois IN: HOU SU: ERN

TS -- NY062 -- 0088 04/23/93 13:03 EDT
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Publication:PR Newswire
Date:Apr 23, 1993
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