HELEN OF TROY REPORTS RECORD FIRST-QUARTER NET, SALES
First quarter net income rose 36 percent to a record $4.836 million, or 17 cents per diluted share from $3.552 million, or 12 cents per diluted share in the prior year's first quarter.
Sales for the first quarter were up 22 percent to a record $64.136 million from sales of $52.448 million for the same period last year. Earnings per share have also been restated to reflect a two-for-one stock split paid Sept. 22, 1997, as a 100 percent stock dividend on the company's stock.
"First quarter results put Helen of Troy on track for another year of record growth, reflecting the ongoing success of our Vidal Sassoon, Revlon and Dr. Scholl's line," said Gerald J. Rubin, chairman and chief executive in a prepared statement from the company.
"This quarter represents the 17th consecutive quarter that sales and earnings have exceeded those of the comparable year-ago period. We are especially pleased with the enthusiastic initial response to our Dr. Scholl's massager products, which were introduced earlier this year at the annual Housewares Show and will begin shipping during our second quarter.
Helen of Troy designs, produces and markets branded hairdryers, curling iron, hair setters, women's shavers, brushes, combs, hair accessories, artificial fingernails and comfort products such as foot baths and body massagers.
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|Publication:||HFN The Weekly Newspaper for the Home Furnishing Network|
|Date:||Jul 20, 1998|
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