Wednesday October 9th, 2013 - 5:14PM
Helen of Troy Limited has reported its financial results for the three-month period ended August 31, 2013. In the second quarter of its fiscal year 2014, Helen of Troy noted that its net sales revenue increased 11.1% to a record $319.4 million compared to $287.4 million in the second quarter of fiscal year 2013.
Gross profit margin was 38.6% compared to 40.7% for the same period last year. Net income was $23.3 million, which compares to net income in the second quarter of fiscal year 2013 of $23 million. Adjusted EBITDA was $41.8 million compared to $41.1 million in the same period last year, the company reported.
“We are pleased to report solid performance in the second quarter, highlighted by sales growth across all our operating segments and increased consolidated adjusted EBITDA and net income despite product cost and currency headwinds," Gerald J. Rubin, Helen of Troy’s chairman of the board, CEO and president, said. "The period saw particular strength in our Healthcare/Home Environment segment, which produced a 20.4% increase in revenue benefiting from our refined promotion and marketing strategy and favorable weather conditions in Europe.
"Innovation in product and design continues to be a positive driver for our Housewares segment leading to increases in shelf space, assortment expansion and new distribution. Finally, our Personal Care segment benefited from a new product distribution arrangement in Europe specific to the current fiscal year and increased sales in our professional appliance business.”
Rubin continued, “In the first week of September 2013, we commenced initial operations at our new 1.3-million-square-foot distribution facility in Mississippi, on time and within budget, and converted our Healthcare/Home environment segment onto our global ERP system, positioning us well to accommodate anticipated future growth.”