Helen of Troy Limited Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended November 30, 2017; Provides Earnings Guidance for the Fourth Quarter and Full Year of Fiscal 2018; Reports Asset Impairment Charges for the Third Quarter of Fiscal 2018
January 08, 2018 at 06:45 am EST
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Helen of Troy Limited reported unaudited consolidated earnings results for the third quarter and nine months ended November 30, 2017. For the quarter, the company reported net, sales revenue of $453,045,000 compared to $444,414,000 a year ago. Operating loss was $15,630,000 compared to operating income of $63,319,000 a year ago. Loss before income taxes was $19,215,000 compared to income before income taxes of $59,800,000 a year ago. Net loss was $30,436,000 compared to net income of $57,612,000 a year ago. Diluted loss per share was $1.12 compared to earnings per share of $2.07 a year ago. Adjusted operating income (non-GAAP) was $78,961,000 compared to $73,421,000 a year ago. LBITDA (non-GAAP) was $4,851,000 compared to EBITDA (non-GAAP) of $74,629,000 a year ago. Adjusted EBITDA (non-GAAP) was $83,310,000 compared to $77,532,000 a year ago. Adjusted income (non-GAAP) net of tax was $68,832,000 or $2.52 per diluted share compared to $65,999,000 or $2.37 per diluted share a year ago.
For the nine months, the company reported net, sales revenue of $1,191,112,000 compared to $1,160,522,000 a year ago. Operating income was $1,244,000 compared to $123,704,000 a year ago. Loss before income taxes was $9,802,000 compared to income before income taxes of $112,905,000 a year ago. Net loss was $15,635,000 compared to net income of $104,993,000 a year ago. Diluted loss per share was $0.58 compared to earnings per share of $3.74 a year ago. Net cash provided by operating activities was $107,629,000 compared to $139,140,000 a year ago. Capital and intangible asset expenditures were $19,854,000 compared to $14,989,000 a year ago. Adjusted operating income (non-GAAP) was $173,128,000 compared to $165,858,000 a year ago. EBITDA (non-GAAP) was $33,781,000 compared to $157,280,000 a year ago. Adjusted EBITDA (non-GAAP) was $186,087,000 compared to $177,809,000 a year ago. Adjusted income (non-GAAP) net of tax was $151,486,000 or $5.55 per diluted share compared to $138,915,000 or $4.95 per diluted share a year ago.
The company provided earnings guidance for the full year of 2018. For fiscal 2018, the company expects consolidated net sales revenue from continuing operations in the range of $1.440 billion to $1.463 billion, which implies consolidated sales growth of 2.3% to 4.0%. The company's net sales outlook assumes that December 2017 foreign currency exchange rates will remain constant for the remainder of the fiscal year and that the severity of the cough/cold/flu season will be in line with long-term historical averages. The company expects consolidated GAAP diluted earnings per share for continuing operations of $5.42 to $5.63 and adjusted diluted earnings per share (non-GAAP) for continuing operations in the range of $6.85 to $7.10, which excludes after-tax asset impairment charges, the Toys R Us bankruptcy charge, restructuring charges, share-based compensation expense and intangible asset amortization expense. The company expects a GAAP effective tax rate range of 10.4% to 10.9% for continuing operations, and an adjusted effective tax rate range of 6.8% to 7.2% for continuing operations for the full fiscal year 2018.
For the fourth quarter, the company expects Diluted earnings per share to be in the range of $2.93 to $3.19. Adjusted diluted earnings per share (non-GAAP) expected to be in the range of $1.30 to $1.60. The company expects adjusted effective tax rate in the range of 8.4% to $10.4%.
For the quarter, the company reported asset impairment charges of $82,227,000.
Helen of Troy Limited is a global consumer products company. The Company offers products and solutions for its customers through a diversified portfolio of brands, including OXO, Hydro Flask, Osprey, Vicks, Braun, Honeywell, PUR, Hot Tools and Drybar. It operates in two business segments: Home & Outdoor and Beauty & Wellness. The Home & Outdoor segment provides a range of consumer products for home activities, such as food preparation, cooking, cleaning, and organization; as well as products for outdoor and on the go activities such as hydration, food storage, backpacks, and travel gear. This segment sells primarily to retailers as well as through its direct-to-consumer channel. The Beauty & Wellness segment provides beauty and wellness products including mass and prestige market beauty appliances, prestige market liquid-based hair and personal care products, and wellness devices including thermometers, water and air filtration systems, humidifiers, and fans.
Helen of Troy Limited Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended November 30, 2017; Provides Earnings Guidance for the Fourth Quarter and Full Year of Fiscal 2018; Reports Asset Impairment Charges for the Third Quarter of Fiscal 2018