Printer Friendly

HELENE CURTIS REPORTS RECORD SALES OF $266.5 MILLION AND EARNINGS PER SHARE OF 44 CENTS FOR THIRD QUARTER

 CHICAGO, Jan. 4 /PRNewswire/ -- Helene Curtis Industries, Inc. (NYSE: HC) today announced record third quarter sales from continuing operations of $266.5 million for the period ended Nov. 30, a 17 percent increase over $228.6 million for the prior-year period. The company reported net earnings from continuing operations of $4.2 million, or 44 cents per share, compared with net earnings of $3.4 million, or 36 cents per share, in the third quarter last year.
 Through the first nine months of the current fiscal year, net sales from continuing operations rose 15 percent to $833.7 million from $725.6 million in the prior-year period. Net earnings from continuing operations were $14.9 million, or $1.57 per share, compared with $12.7 million, or $1.35 per share, for the nine months of the prior fiscal year.
 Commenting on the quarter and year-to-date results, Ronald J. Gidwitz, president and chief executive officer of Helene Curtis, said, "Sales growth -- 17 percent for the quarter and 15 percent year-to-date -- continues to be driven by our strategy of growing our existing brands and developing new, innovative brands. Helene Curtis recently became the market leader (both in dollar and unit sales) in the highly competitive U.S. hair care category. For the year, we expect sales will increase by approximately 15 percent. Earnings should also grow, driven by top-line growth."
 Gidwitz attributed the third quarter sales increase to the significant growth in international markets, particularly Japan; U.S. gains for the Suave brand in all categories in which it competes; strong sales increases for Degree antiperspirant/deodorant worldwide; and the successful U.S. introduction of Vibrance -- the company's newest brand of shampoos and conditioners introduced in December 1991. Sales for the company's Professional Products Division also increased for the quarter.
 "In the ongoing challenging economic environment for personal care products, our U.S. consumer brands continue to increase sales," Gidwitz said. "The company is now shipping Vibrance styling aids, new products in the Finesse line, additional sizes of Degree and Suave antiperspirants/deodorants and new Suave dandruff shampoos."
 Sales of the company's antiperspirant/deodorant products were dramatically ahead for the quarter and year-to-date. With its Suave and Degree brands, Helene Curtis is the fourth largest antiperspirant/deodorant company in the U.S. market in terms of unit sales, up from seventh three years ago. Degree was recently launched in Australia and New Zealand, following its successful launch in Canada last year.
 "Helene Curtis' operations in Japan, Canada, the United Kingdom, Australia and New Zealand achieved sales increases for the quarter and year-to-date," Gidwitz added. "Sales in international markets grew by approximately 18 percent for the quarter and year-to-date, accounting for 30 percent of the company's total sales year-to-date."
 Helene Curtis Industries, Inc. is one of the nation's major producers of brand-name personal care products and is the leader in the U.S. daily hair care category. The company markets its products to consumers through supermarkets, mass merchandisers and drug stores, and to beauty salons through distributors across the United States. Helene Curtis products are sold in more than 100 countries.
 HELENE CURTIS INDUSTRIES, INC. AND SUBSIDIARIES
 Consolidated Statements of Earnings
 (Unaudited; dollar amounts in thousands, except per-share data)
 Periods ended Three Months Nine Months
 Nov. 30 1992 1991 1992 1991
 Net sales $266,450 $228,564 $833,662 $725,643
 Costs and Expenses:
 Cost of goods sold 118,031 103,757 373,311 331,878
 Advertising,
 promotion, selling
 and administrative 139,346 116,035 427,318 362,520
 Interest 1,465 2,430 5,989 7,729
 Total 258,842 222,222 806,618 702,127
 Earnings from
 continuing operations
 before income taxes 7,608 6,342 27,044 23,516
 Provision for
 income taxes 3,424 2,917 12,170 10,817
 Earnings from
 continuing operations 4,184 3,425 14,874 12,699
 Loss from discontinued
 operations, net of
 income taxes -- -- -- --
 Net earnings $4,184 $3,425 $14,874 $12,699
 Net earnings per share:
 Continuing operations $.44 $.36 $1.57 $1.35
 Discontinued operations -- -- -- --
 Net earnings per share $.44 $.36 $1.57 $1.35
 Weighted average no. of
 shares outstanding 9,500,927 9,486,224 9,481,331 9,420,497
 Cash dividends per share:
 Common stock $.06 $.05 $.18 $.15
 Class B common stock $.06 $.05 $.13 $.10
 12 months ended Nov. 30 1992 1991
 Net sales $1,127,930 $975,638
 Costs and Expenses:
 Cost of goods sold 504,190 442,070
 Advertising, promotion, selling
 and administrative 576,070 489,939
 Interest 8,520 10,716
 Total 1,088,780 942,725
 Earnings from continuing operations
 before income taxes 39,150 32,913
 Provision for income taxes 17,739 17,631
 Earnings from continuing operations 21,411 15,282
 Loss from discontinued operations,
 net of income taxes -- (3,292)
 Net earnings 21,411 11,990
 Net earnings per share:
 Continuing operations $2.26 $1.63
 Discontinued operations -- (.36)
 Net earnings per share $2.26 $1.27
 Weighted avg. no. of shares outstanding 9,485,119 9,403,255
 Cash dividends per share:
 Common stock $.23 $.20
 Class B common stock $.18 $.15
 -0- 1/4/93
 /CONTACT: Diane Falanga of Helene Curtis, 312-661-2056, or Keith Owens of Lesnik Public Relations, 312-755-3588, for Helene Curtis/
 (HC)


CO: Helene Curtis Industries, Inc. ST: Illinois IN: HOU SU: ERN

CK -- NY037 -- 1267 01/04/93 11:11 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 4, 1993
Words:900
Previous Article:HARTMARX COMPLETES RESTRUCTURING
Next Article:RONALD D. BROWN ELECTED VICE PRESIDENT - FINANCE AND C.F.O.; KENNETH W. MUELLER ELECTED TREASURER
Topics:


Related Articles
HELENE CURTIS REPORTS RECORD FIRST QUARTER SALES OF $245.1 MILLION AND RECORD EARNINGS PER SHARE OF 26 CENTS
HELENE CURTIS REPORTS RECORD SALES OF $322 MILLION AND RECORD EARNINGS PER SHARE OF 87 CENTS FOR SECOND QUARTER
HELENE CURTIS REPORTS RECORD SALES OF $1.17 BILLION AND RECORD EARNINGS PER SHARE OF $2.33 FOR FISCAL YEAR 1993
HELENE CURTIS INDUSTRIES REPORTS FIRST QUARTER SALES AND EARNINGS
HELENE CURTIS REPORTS SECOND QUARTER SALES AND EARNINGS
HELENE CURTIS REPORTS THIRD QUARTER SALES AND EARNINGS
HELENE CURTIS ANNOUNCES FOURTH QUARTER AND YEAR-END RESULTS FOR FISCAL 1994; OUTLOOK FOR FISCAL 1995
HELENE CURTIS REPORTS RECORD SALES OF $352.5 MILLION AND INCREASED EARNINGS PER SHARE OF 70 CENTS FOR SECOND QUARTER
HELENE CURTIS REPORTS RECORD SALES OF $282 MILLION AND AN INCREASE OF 21% IN NET EARNINGS FOR THIRD QUARTER
HELENE CURTIS REPORTS RECORD SALES FOR FISCAL YEAR '95; ANNOUNCES OUTLOOK FOR FISCAL 1996

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters