Helen of Troy Limited Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended November 30, 2013; Provides Earnings Guidance for the Fourth Quarter of 2013 and Full Year of 2014
January 10, 2014 at 02:31 am IST
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Helen of Troy Limited reported unaudited consolidated earnings results for the third quarter and nine months ended November 30, 2013. For the quarter, the company reported net sales revenue of $380.730 million compared to $374.599 million a year ago. Operating income was $49.393 million compared to $47.052 million a year ago. Income before income taxes was $46.893 million compared to $43.804 million a year ago. Net income was $37.524 million or $1.16 per diluted share compared to $37.719 million or $1.18 per diluted share a year ago. Adjusted EBITDA was $60.512 million compared to $57.107 million a year ago.
For nine months, the company reported net sales revenue of $1,004.633 million compared to $962.221 million a year ago. Operating income was $100.374 million compared to $109.041 million a year ago. Income before income taxes was $92.880 million compared to $99.405 million a year ago. Net income was $75.233 million or $2.33 per diluted share compared to $84.159 million or $2.64 per diluted share a year ago. Adjusted EBITDA was $146.911 million compared to $140.032 million a year ago. Adjusted diluted EPS was $2.70. Adjusted operating income (operating income without non-cash asset impairment charges) was $112.4 million compared to $109.0 million for the same period last year, an increase of 3.1%. Adjusted income (net income without non-cash asset impairment charges) was $87.3 million, or $2.70 per fully diluted share, compared to $84.2 million, or $2.64 per fully diluted share, in the first nine months of fiscal year 2013. This represents an increase in adjusted income of 3.7% and in adjusted diluted earnings per share of 2.3%.
For the fourth quarter of 2013, the company expects diluted EPS in the range of $0.80 to $0.90.
For fiscal year 2014, the Company continues to expect net sales revenue in the range of $1.29 billion to $1.32 billion, and diluted EPS in the range of $3.13 to $3.23, which includes the non-cash asset impairment charges of $0.37 per share recorded in the first quarter of fiscal year 2014. The Company expects adjusted diluted EPS to be in the range of $3.50 to $3.60, which is consistent with the Company's previous guidance. The earnings guidance reflects the negative impact of the difficult retail environment, a normal cold/cough/flu season, product cost increases across all segments, an increase in non-cash compensation expense for the Company's CEO, and an incentive compensation program for the Healthcare/Home Environment segment. The Company expects capital expenditures for fiscal year 2014 to be in the range of $40 million to $45 million, with approximately $33 million related to the completion of the Company's new 1.3 million square foot distribution center in Olive Branch, Mississippi. The company expects diluted EPS in the range of $3.13 to $3.23. The company expects adjusted diluted EPS in the range of $3.50 to $3.60.
Helen of Troy Limited is a global consumer products company. The Company offers products and solutions for its customers through a diversified portfolio of brands, including OXO, Hydro Flask, Osprey, Vicks, Braun, Honeywell, PUR, Hot Tools and Drybar. It operates in two business segments: Home & Outdoor and Beauty & Wellness. The Home & Outdoor segment provides a range of consumer products for home activities, such as food preparation, cooking, cleaning, and organization; as well as products for outdoor and on the go activities such as hydration, food storage, backpacks, and travel gear. This segment sells primarily to retailers as well as through its direct-to-consumer channel. The Beauty & Wellness segment provides beauty and wellness products including mass and prestige market beauty appliances, prestige market liquid-based hair and personal care products, and wellness devices including thermometers, water and air filtration systems, humidifiers, and fans.
Helen of Troy Limited Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended November 30, 2013; Provides Earnings Guidance for the Fourth Quarter of 2013 and Full Year of 2014