Yearly sales at Spectrum Brands increased mid single digits driven by strong performances in its personal care and small appliance business, company officials said.
For the 12-month period ending September 30, company-wide sales were $4.69 billion, up 5.9% from the prior fiscal year. Net income for 2015 was $148.9 million, down from net income of $214.5 million the prior year.
In the fourth quarter, Spectrum’s total sales were $1.3 billion, up 11% from the comparable quarter the previous year. Net income for the quarter was $26.6 million, down from net income of $48.1 million in the prior year’s fourth quarter.
“Fiscal 2015 was our sixth consecutive year of record financial performance, including a solid fourth quarter,” said Andreas Rouvé, Spectrum’s CEO. “Highlights included strong performances from our personal care and small appliances businesses, and, regionally, another excellent year in Europe.”
Net fourth quarter sales in the company’s global small appliances category were $197.9 million, up slightly from sales of $197.6 million in the comparable quarter the previous year. Excluding negative foreign exchange impacts of $15.9 million, fiscal fourth quarter net sales in the category increased 8.2%, company officials said.
The improvement was attributable to double-digit growth in North American sales primarily from new products, and strong increases on a constant currency basis in Europe and Latin America from new retail customers, new products and distribution gains, according to the company.
Quarterly net sales in the company’s global personal care product category were $125.8 million, compared to net sales of $129.4 million last year. Excluding negative foreign exchange impacts of $13.9 million, fiscal 2015 fourth quarter net sales increased 7.9%, company officials said.
Spectrum said the improvement in the personal care segment was driven by new products and distribution gains in North American shaving and grooming and by promotions and new customers in hair care, hair removal and grooming in Europe.
Looking ahead to 2016, Spectrum Brands expects fiscal net sales to increase in the high-single digit range.