Helen of Troy Ltd. (HELE) Posts Q2, Half-Year Results with Record Sales

QualityStocks would like to highlight Helen of Troy Ltd. (NASDAQ: HELE). Helen is a leading designer, producer and global marketer of brand-name personal care and household consumer products. The Company's personal care products include hair dryers, curling irons, hair setters, shavers, brushes, combs, hair accessories, home hair clippers, mirrors, foot baths, body massagers, paraffin baths, liquid hair styling products, body powder and skin care products.

In the company’s news yesterday,

Helen of Troy Ltd. posted second-quarter sales at $162.19 million, up 5.6 percent from $153.54 million for the second quarter of 2008. Second-quarter net earnings were $15.91 million, or $0.51 per fully diluted share, as compared to $10.60 million, or $0.34 per fully diluted share, for the same period last year.

The company reported sales for the six months ended August 31, 2009 increased 2.5 percent to $306.07 million, as compared to $298.55 million the previous year. Net earnings for the first half of this fiscal year increased 88.3 percent to $30.42 million, or $0.99 per fully diluted share, versus $16.16 million, or $0.52 per fully diluted share, in the same period of last year.

Gerald J. Rubin, chairman, CEO and president of Helen of Troy said the second-quarter results reflect the company’s position in the industry and its recent strategic partnerships.

“We are extremely pleased with our results for the second quarter. Although the worldwide retail environment continues to be challenging, our leadership position in our market segments allowed us to continue to perform well during the quarter. During the six months ended August 31, 2009, our Housewares division continued to expand our OXO brand with the completion of two strategic licensing agreements with Staples Inc., the world’s largest office products company, and UCB, a global biopharmaceutical leader. These two partnerships extend OXO’s reach into new and exciting categories,” Rubin stated in the press release.

As of August 31, 2009, the company had cash, cash equivalents, trading securities and long-term investments of $33.11 million and shareholders’ equity of $540.17 million. Helen of Troy also reported its repayment of $75 million of its five-year Senior Notes that matured in June 2009.

“We believe our company’s core strengths remain strong, and we continue to work on the five company initiatives detailed in our 2009 annual report. We continue to execute our business plan by introducing new product offerings, striving for increased market share through channel expansion and providing product innovation. We also continue to pursue further process efficiencies and related selling, general and administrative expense reductions. We believe we are well positioned as we move into the holiday selling season,” Rubin stated.

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Forward-Looking Statement:

This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.