CORRECTED - UPDATE 1-Alberto-Culver quarterly profit rises

Mon Apr 28, 2008 9:42am EDT

Related Topics

(Corrects 3rd paragraph to show earnings from continuing operations matched, not beat, analysts' average estimate) (Adds Reuters Estimates, sales results)

NEW YORK, April 28 (Reuters) - Alberto-Culver Co Inc ACV.N, whose products includes Alberto VO5 shampoo, Mrs. Dash seasonings and St. Ives body lotion, reported higher quarterly profit on Monday, helped by increased sales and improved margins.

The consumer products company said profit was $29.03 million, or 28 cents per share, for its second quarter ended March 31, compared with $22.56 million, or 23 cents per share, a year ago.

Earnings per share excluding restructuring charges and a tax benefit were 28 cents, meeting analysts' average estimate, according to Reuters Estimates.

Sales rose almost 8 percent to $412.8 million from $383.4 million, helped by strong U.S. demand for its TRESemme and Nexxus hair care products.

Alberto-Culver said gross profit margin increased, helped by better inventory management.

The company spun off its Sally Beauty Holdings Inc (SBH.N) beauty supplies unit in November 2006, and has been focusing on its consumer products business. (Reporting by Nicole Maestri, editing by Mark Porter)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.