Helen Of Troy Reports Q3 Gains

For the third quarter ended November 30, 2014, Helen of Troy Ltd. reported $435.7 million in net sales revenue, an increase of 14.4% as compared to $380.7 million in the third quarter of fiscal year 2014.

The company’s net income was $55.4 million, or $1.92 per diluted share. This is compared to the previous year’s Q3 results of $37.5 million, or $1.16 per diluted share.

Additionally, Helen of Troy noted a $7 million ($6.9 million after-tax) gain from the amendment of a corporate license agreement, or $0.24 per diluted share.

Its adjusted EBITDA was $77 million, compared to $60.5 million during the same period in the year prior.

The company’s operating income was $65 million, compared to an operating income of $49.4 million the year before. Adjusted operating income was $73.2 million compared to $57.2 million in Q3 of fiscal year 2014, while its adjusted income was $62.6 million, or $2.17 per diluted share, compared to $44.7 million, or $1.37 per diluted share in the third quarter of the previous year.

In response to the results, Julien R. Mininberg, Helen of Troy CEO stated, “We are pleased to report double digit increases in sales and net income in the third quarter. Total sales grew 14.4% including growth of 4.3% in our core business. Two of our three core operating segments grew, driven by improved retail trends, a favorable response to new product introductions, strong retail execution, and positive sell through. While our Personal Care segment sales declined by 4.3% compared to the year ago period, we are pleased with the progress in this business as we lay the groundwork for stabilization. Our newly-acquired Healthy Directions business continues to perform in line with our expectations and we remain excited by the growth and diversification opportunities this segment offers.”