Household brands maker Alberto-Culver's Q2 earnings soar 10%

02 Aug '05

6 min read

Personal care and household brands manufacturer and marketer The Alberto-Culver Company announced record sales and record profits for the third quarter and first nine months of fiscal 2005, which ended on June 30, 2005.

Third quarter sales increased 9.2% to $898.9 million while net earnings rose 10.0% to $55.8 million excluding non-cash charges related to the Company's conversion to one class of common stock in fiscal year 2004 and a gain of $10.1 million ($5.7 million after tax) from the sale of its Indola European professional haircare business in the 2004 third quarter.

Excluding the non-cash charges and gain on the sale of Indola, diluted earnings per share were 60 cents compared with 55 cents last year, while basic earnings per share improved to 61 cents from 56 cents in 2004.

Including the non-cash charges and prior year gain on the sale of Indola, net earnings were $53.4 million for the third quarter compared to $51.5 million in the prior year and diluted earnings per share were 57 cents in the current quarter versus 56 cents last year with basic earnings per share of 58 cents compared to 57 cents in the prior year.

Sales for the first nine months of 2005 grew by 9.3% to $2.63 billion. Net earnings for the nine months, excluding the non-cash charges in both periods and the gain on the sale of Indola last year, increased 14.1% to $159.1 million, resulting in diluted earnings per share of $1.71 versus $1.52 last year, and basic earnings per share of $1.74 compared with $1.55 a year ago.

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