Home / Knowledge / News / Fashion / Alberto Culver posts strong growth

Alberto Culver posts strong growth

01
Nov '08
Alberto Culver Company, a leading manufacturer and marketer of personal care products including TRESemme, Alberto VO5, Nexxus and St. Ives, today announced strong record sales and pre-tax earnings from continuing operations for its fourth quarter and fiscal year 2008.

As a result of the divestiture of Cederroth International, continuing operations excludes the results for Cederroth. In addition, we are now reporting two business segments, United States and International.

Fourth Quarter:
Net sales for the fourth quarter increased 7.3% to $386.0 million from $359.7 million in the prior year quarter. Excluding the effect of foreign exchange rates, organic sales increased 8.4% for the fourth quarter.

Pre-tax income from continuing operations increased 20.2% to $45.4 million from $37.8 million in the prior year quarter. Excluding restructuring of $1.6 million in the current quarter and $1.1 million in the prior year quarter, pre-tax earnings from continuing operations increased 21.0% to $47.0 million compared to $38.9 million in the prior year quarter.

Diluted earnings per share from continuing operations were 20 cents compared to 29 cents in the prior year quarter. Diluted earnings per share from continuing operations, excluding restructuring and discrete items (see detail in bullets below), increased to 31 cents compared to 26 cents in the prior year, an increase of 19.2%. The reported diluted earnings per share from continuing operations includes the following items:

The current quarter includes approximately 10 cents per share of tax expense, primarily related to taxes on a local currency gain on U.S. dollar denominated cash held in Sweden following the Cederroth sale, while the prior year quarter includes approximately four cents per share of discrete tax benefits, mainly due to the favorable resolution of open tax items.

The current and prior year quarter both include approximately one cent per share of restructuring expenses.

Fiscal Year:
Net sales for fiscal year 2008 increased 9.7% to $1.44 billion from $1.32 billion in the prior year. Excluding the effect of foreign exchange rates, organic sales increased 8.7% for the year.

Pre-tax income from continuing operations, which includes restructuring and discrete items of $7.3 million in the current year and $33.1 million in the prior year, increased to $170.8 million from $100.8 million in the prior year. Excluding restructuring and discrete items, pre-tax earnings from continuing operations increased 33.0% to $178.1 million compared to $133.9 million in the prior year.

Diluted earnings per share from continuing operations increased to $1.05 from 74 cents in the prior year. Diluted earnings per share from continuing operations, excluding restructuring and discrete items (see detail in bullets below), increased to $1.18 compared to 91 cents in the prior year, an increase of 29.7%. The reported diluted earnings per share from continuing operations includes the following items:


Interviews View All

C. Dhandayuthapani, Mag Solvics Pvt. Ltd

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Neel Sawhney, One Friday

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

C Kamatchisundaram, Voltas

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Hardik Sanghvi,

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

John Elmuccio,

John Elmuccio

Evolution St Louis is a company setting up a high-tech knitting facility...

Poonam Naik Desai,

Poonam Naik Desai

Peekaboo is a sustainable, high quality, luxury sleepwear brand providing...

Isabel Herranz, European School of Business & innovation

Isabel Herranz
European School of Business & innovation

Cutting-edge ideas like the Internet of Things and artificial intelligence ...

Giorgio Mantovani, Corman S.p.A

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Melissa Tate, University of New South Wales

Melissa Tate
University of New South Wales

<div><div><div><div><b>Melissa Tate</b>, a well-known scientist currently...

Ritu Kumar, Label Ritu Kumar

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Prathyusha Garimella, Prathyusha Garimella

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Sneha Arora, Label Sneha Arora

Sneha Arora
Label Sneha Arora

Sneha Arora, an alumnus of National Institute of Fashion Technology,...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


October 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search