Helen of Troy Net Jumps 14.7 Percent in Q3
EL PASO, Texas-In what Gerald Rubin, chairman, president and CEO, described as the best quarter in its history in terms of both the top and bottom line, Helen of Troy posted a 14.7 percent gain in net income to $37.7 million.
Net sales rose 10.6 percent to $374.6 million as the company set new records for both sales and income in the quarter, which ended on Nov. 30. Helen of Troy received significant boosters in sales from its health-care/home-environment segment (up 23 percent) and the housewares segment (with a 10.7 percent gain). Sales in the personal-care segment slipped 0.2 percent.
Gross margin rose 30 basis points to finish the quarter at 39.6 percent. Selling, general and administrative expenses were up 11 percent in dollars and 10 basis points as a percentage of sales, to 27.1 percent.
Rubin praised the company for its ability to achieve positive results in a retail sales environment that continues to challenge the business. He said Helen of Troy's cash position "can be used to further innovate our businesses and make future acquisitions."