Helen of Troy has posted a 20.9% increase in its fourth quarter net sales revenue, reporting $377.7 million for the three-month period ended February 28, 2015, compared to $312.5 million in the fourth quarter of fiscal year 2014.
Net income in the fourth quarter was $40.6 million, compared to net income in the fourth quarter of fiscal year 2014 of $11 million. Adjusted EBITDA was $61.2 million compared to $48.7 million in the same period last year. On an adjusted basis for the fourth quarter of fiscal years 2015 and 2014, excluding amortization of intangible assets, non‐cash share based compensation and CEO succession costs, adjusted income was $48.1 million compared to $35.6 million for the fourth quarter of fiscal year 2014.
For the full fiscal year, Helen of Troy stated it had a net sales revenue increase of 9.7% to $1.45 billion compared to $1.32 billion in fiscal year 2014. Adjusted EBITDA was $220.4 million compared to $195.6 million. Net income in the fiscal year was $131.2 million compared to net income of $86.3 million the previous year. Adjusted income was $169.9 million, compared to $145.8 million the previous year, reported the company.
According to Helen of Troy CEO Julien Mininberg, the company’s core health care/home environment and housewares segments lead its core business growth, with double digit increase of 16.6%, driven by new product introductions and a strong cold/flu season.
The company’s housewares division rose 11.9%, driven by new products, fill-in orders for expanded shelf space, and additional web presence, he stated.
As for its personal care business, Mininberg said that it slowed its decline in the fourth quarter with a decline of 3.7%, which includes a negative impact of 1.5 percentage points from foreign currency fluctuations, compared to a 12.8% decline for the first half of fiscal year 2015.
The nutritional supplements line, Healthy Directions, acquired in 2014, contributed $37.3 million to net sales revenue, in line with company expectations.
“Stepping back to assess the transformational changes we embarked upon at the start of fiscal year 2015, we have made significant progress toward our stated goals of improving organic growth, improving our organization and culture, and optimizing our capital structure,” he said.
Mininberg also mentioned in his remarks recent key management changes in Helen of Troy’s global leadership team, shared services and its personal care division, for which Leah Bailey was named global president of in March. He also noted the company’s recent acquisition of Vicks VapoSteam.