Helen of Troy posts increase in Q2 sales
Second quarter net earnings were $18.25 million, or $0.56 per fully diluted share, compared with $10.87 million, or $0.35 per fully diluted share, for the same period a year earlier, an increase in earnings per share of 60%. Sales for the six months ended August 31, 2007, increased 7.4% to $298.09 million versus $277.61 million in the previous year. Net earnings for the first half of this year were $28.37 million, or $0.88 per diluted share, versus $17.55 million, or $0.56 per diluted share, in the same period of last year. Gerald Rubin, chairman, CEO and president of Helen of Troy, said: "As of August 31, 2007, Helen of Troy's balance sheet remains strong, with cash and temporary investments of $47 million compared to $32 million at August 31, 2006, and stockholders' equity of $544 million, an increase of $52 million in stockholders' equity from the comparable period last year. Our accounts receivable at quarter-end was $122 million, compared to $117 million at August 31, 2006."