Helen of Troy's net profit soars 59% for Q4 - fiscal year 2004

16 May '05

4 min read

helen of troy also reported that during the fourth quarter of fiscal 2005, the company settled the internal revenue service tax audit for fiscal years 2000 through 2002 and has therefore decreased the previously provided tax reserves by $2 million related to those audits in the fourth quarter of fiscal 2005.

helen of troy's balance sheet includes cash of $22 million, no outstanding borrowings on the $75 million revolving line of credit, and stockholders' equity of $421 million at february 28, 2005, which represents an increase of $70 million in stockholders' equity from february 29, 2004. inventory at year end was $137 million.

gerald j. rubin, chairman, chief executive officer and president, commenting on the results stated, "we have just completed another record sales and earnings fourth quarter and fiscal year, and we currently anticipate another record year in fiscal 2006. the corporate initiatives for helen of troy in fiscal 2006 are as follows:

- oxo international
- growth of existing products and new categories
- completion of oxo integration into helen of troy operations
- build upon the idelle labs product categories of grooming, skin and hair care brands
- build upon european and latin american appliance business
- pursue strategic acquisitions in personal care and housewares categories
- leverage investment in capacity and infrastructure through available synergies

"as previously announced, helenusiness

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