MELROSE PARK, Ill. Alberto-Culver, whose brands include TRESemme, Alberto V05, Nexxus and St. Ives, reported solid second quarter results thanks, in part, to strong sales of TRESemme and Nexxus.
“In am particularly proud that in the U.S., TRESemme and Nexxus’ consumer consumption rates, a critical measure of the health of our brands, both increased at double-digit rates during the latest 12 and 52 week periods, far outpacing the category,” stated president and chief executive officer V. James Marino. “In a challenging retail environment, characterized by mixed consumption trends, we were able to deliver another record quarter of sales and earnings growth for our shareholders.”
Net sales for the quarter increased 7.7 percent to $412.8 million from $383.4 million in the year-ago period.
Including continuing and discontinued operations, the company reported net earnings of $29 million, or 28 cents per share, compared with net earnings of $22.6 million, or 23 cents per share, in the year-ago period.
In November 2006, the company separated its consumer products business from its beauty supply distribution business. It resulted in the formation of two separate and independent publicly-traded companies: new Alberto-Culver, a manufacturer and marketer of beauty care and other personal care products, and Sally Beauty Holdings, a distributor of professional beauty supplies. Beginning in the first quarter of fiscal year 2007, the results of operations of Sally Beauty and Beauty Systems Group are reported as discontinued operations.
The company also announced that its board of directors has approved the regular 6.5 cent quarterly cash dividend. The dividend will be paid on May 20, 2008 to shareholders of record on May 5, 2008.