Personal care products maker Helen of Troy Limited (HELE) said Wednesday that second-quarter profit increased from the year-ago period, helped by higher sales and lower expenses.
Second quarter net earnings increased to $15.91 million or $0.51 per share from $10.60 million or $0.34 per share for the same period last year. On average, three analysts polled by Thomson Reuters expected the company to report earnings of $0.39 per share. Analysts' estimates typically exclude special items.
Second quarter sales increased 5.6% to $162.19 million from $153.54 million in the same period of the prior year. Analysts estimated revenues of $161.38 million.
In the Housewares Segment, net sales increased to $50.57 million from $47.13 million in the same period last year. Net sales for the Personal Care Segment rose to $111.63 million from $106.41 million in the prior year.
Selling, general and administrative expense declined to $48.25 million from $50.29 million in the prior year.
Net earnings for the first half of this fiscal year increased to $30.42 million or $0.99 per share from $16.16 million or $0.52 per share in the same period last year. Sales for the six months increased to $306.07 million from $298.55 million reported last year.
HELE closed Tuesday's regular trade at $20.00, up from the previous close of $19.17, on 546,000 shares.
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