For the third quarter 2016 fiscal year, Helen of Troy Limited reported net sales revenue increased $9.8 million, or 2.3%, to $445.5 million, compared to $435.7 million in the third quarter of fiscal year 2015. Net sales revenue includes the operating results of VapoSteam, acquired on March 31, 2015, and a negative impact of 2.0% from foreign currency fluctuations.
The company’s net income for the third quarter was $46.8 million, or $1.63 per diluted share, compared to net income in the third quarter of fiscal year 2015 of $55.4 million, or $1.92 per diluted share.
“We are pleased with our third quarter performance, which we believe has us solidly on track to achieve our annual goals,” said Julien Mininberg, chief executive officer, Helen of Troy. “Sales grew 2.3% despite a foreign currency drag of 2.0%, and we made further progress toward our seven key strategic priorities that are guiding our multi-year transformation.”
By division, the company said that Health & Home (formerly referred to as Healthcare/Home Environment) rose 5.3%, driven by new product introductions and the VapoSteam acquisition, which helped offset lower heater sales as a result of warmer temperatures in the fall and early winter, lower water and air filtration sales and a negative impact of $4.9 million from foreign currency fluctuations.
Housewares increased 2.1%, primarily due to successful new product introductions and increases in Internet retail sales. These were partially offset by higher promotional spending in support of new product launches, certain promotional placement that did not repeat, a decrease in the club channel and inventory reductions at a key retailer.
Beauty decreased 0.3% including a negative impact of $3.5 million, or 2.6%, from foreign currency fluctuations. Gains in sales of pedicure appliances and curling, straightening and specialty styling irons were partially offset by a decline in the personal care category due to competitive pressures and some lost distribution at retail.
The Nutritional Supplements division of the company decreased 2.5% for the quarter.