Alberto Culver 4Q profit falls, sales steady

Alberto Culver 4th-qtr profit falls versus results that included gains, adjusted earnings rise

• On 10:24 am EDT, Monday October 26, 2009

MELROSE PARK, Ill. (AP) -- Alberto Culver Co., which makes personal-care products such as Alberto VO5 and Noxzema, said Monday fiscal fourth-quarter profit dropped 78 percent from results that included a big gain a year ago on an asset sale.

But cost-cutting helped boost the company's adjusted results.

Profit for the three months ending Sept. 30 fell to $31.7 million, or 32 cents per share, from $147.1 million, or $1.48 per share per share, a year ago.

Year-ago results benefitted from the sale of its Cederroth International subsidiary.

Excluding restructuring and other costs, net income totaled 33 cents per share in the latest period, up from 20 cents per share a year ago.

Revenue edged down to $385.2 million from $386 million last year.

Excluding the stronger dollar, the company's Noxzema acquisition and selling a New Zealand distribution business, sales rose nearly 3 percent.

Sales were also helped by its TRESemme and St. Ives products, offset by lower Alberto VO5 sales.

In June, Alberto Culver closed a manufacturing plant and cut staff in a cost-cutting move.

Analysts polled by Thomson Reuters, on average, predicted a profit of 32 cents per share on lower revenue of $369.7 million.

For the fiscal year, profit fell 48 percent to $119.4 million, or $1.20 per share, from $228.1 million, or $2.27 per share, a year ago.

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