Helen of Troy 2nd-quarter profit tops Street view

Helen of Troy posts 50 percent rise in 2nd-qtr profit, topping Wall Street forecast; stock up

• On 11:51 am EDT, Wednesday October 7, 2009

EL PASO, Texas (AP) -- Personal care product maker Helen of Troy Ltd. on Wednesday said its fiscal second-quarter profit rose 50 percent amid sales improvements in both its product segments and cost reductions.

The results topped Wall Street expectations, and the stock rose sharply in morning trading.

For the three months ended Aug. 31, the maker of products under brands including Revlon, Dr. Scholl's and Oxo reported profit of $15.9 million, or 51 cents per share, compared with $10.6 million, or 34 cents per share, in the same quarter a year ago.

Analysts polled by Thomson Reuters, on average, expected profit of 39 cents per share.

Revenue at Helen of Troy rose 6 percent to $162.2 million from $153.5 million.

Sales in the company's housewares segment rose 7.3 percent to $50.6 million. Personal care segment sales gained 5 percent to $111.6 million. Selling, general and administrative expenses decreased 4 percent to $48.3 million.

Helen of Troy shares rose $2.30, or 11.5 percent, to $22.30 in heavy morning trading. The stock has ranged between $8.55 and $22.77 in the past 52 weeks.