Helen of Troy Net Climbs 7.5 Percent in Q4, 4.8 Percent for Fiscal Year
April 30, 2013,
EL PASO, Texas-Helen of Troy broke records for both its bottom and top lines for the fourth quarter and fiscal year ending Feb. 28.
The company posted net income of $31.5 million for the quarter, up 7.5 percent, and $115.7 million for the year, an increase of 4.8 percent. Net sales in the quarter rose 10.9 percent to $326 million, and totaled $1.3 billion for the fiscal year, a gain of 9 percent.
Selling, general and administrative expenses increased 6.1 percent in dollars but shed 120 basis points as a percentage of sales, to 28.2 percent. Gross margin was down 150 basis points to 40.4 percent.
Rubin vowed that Helen of Troy would continue to invest in "organic growth" and evaluate potential acquisitions to add to its brand portfolio during the current fiscal year. "While the global economic environment is mixed," he said, "we remain keenly focused on executing our growth strategies and controlling our costs."