Alberto-Culver Company announced record sales and record profits for the second quarter and first half of fiscal 2006, which ended on March 31, 2006. Second quarter 2006 sales increased 7.1 percent to $946.8 million while net earnings increased 15.8 percent to $56.9 million including non-core items.
Diluted net earnings per share were 61 cents in the current quarter, after the deduction of 2 cents for stock option expense and 1 cent for Sally spin/merge transaction costs, versus 53 cents per share last year after a 2 cent deduction for the non-cash charge relating to the conversion to a single class of stock.
Excluding non-core items, net earnings were up 16.5 percent in the second quarter to $59.9 million from $51.4 million in the prior year. Second quarter diluted net earnings per share were 64 cents compared to 55 cents in 2005 excluding the non-core items.
Sales for the fiscal 2006 first half grew by 6.6 percent to $1.85 billion. Net earnings for the first half including non-core items increased 10.6 percent to $109.0 million. Diluted net earnings per share for the current six month period were $1.17, after the deduction of 7 cents for stock option expense and 4 cents for Sally spin/merge transaction costs, versus $1.06 per share in the prior year after a 5 cent deduction for the non-cash charge relating to the conversion to a single class of stock.
Excluding non-core items, net earnings increased 15.2 percent in the first half to $119.0 million from $103.3 million in the prior year. First half diluted net earnings per share improved to $1.28 from $1.11 last year excluding the non-core items.
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