Helen of Troy reported record fourth quarter results for the period ending 28 February 2010, with a strong performance in the personal care division reflecting last year's acquisition of the Infusium 23 hair care business.
The personal care and household products provider recorded net sales revenue of $152.2m for the last three months of fiscal 2009, a 9.8 per cent increase on the same period last year.
For the full financial year, net sales revenue came in at $647.6m, a 4 percent increase when compared to fiscal 2008 figures.
Net income for the fourth quarter rose 51.2 per cent to reach $16.7m, and annual net income increased 45.7 percent to $71.8bn.
Strong Q4 for Personal Care
In the company’s personal care division, fourth quarter net sales revenue increased 8.7 percent to $102.1m, compared with $93.9m for the corresponding period last year.
This growth in sales, which was mostly attributed to the acquisition of Infusium 23, was partly offset by a still challenging economic environment, the company said.
Helen of Troy purchased Infusium 23 from Procter & Gamble and at the time of the acquisition, the company said it expected the addition of the brand to its portfolio to increase net sales by $40m annually.
CEO Gerald Rubin noted that the domestic retail environment has recently shown some improvement, and he was optimistic that the company can continue on its growth path over the coming months.
He outlined plans to integrate and develop the Pert Plus hair care and Sure antiperspirant and deodorant businesses that Helen of Troy acquired from Innovative brands in March for $69m. The two brands are expected to generate combined annual sales of $65m, the company said.
Helen of Troy will continue to look for potential acquisition targets of complementary businesses or product lines in order to fuel growth, it was said in a statement.