Helen of Troy Again Lowers Fiscal 2013 Profit View, Shares Fall

By RetailFOXBusiness

Shares of Helen of Troy (NASDAQ:HELE) slipped 8% premarket Wednesday after the company reported weaker-than-expected second-quarter earnings and lowered its full-year profit view for the second time.

The Bermuda-based maker of consumer, healthcare and household products posted net income of $23 million, or 72 cents a share, compared with a year-earlier $23.59 million, or 74 cents.

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The results were below average analyst estimates of 85 cents in a Thomson Reuters poll.

The maker of Revlon and Vidal Sassoon-branded hair products lowered fiscal 2013 sales expectations to $3.50 to $3.60, from an earlier view of $3.70 to $3.80. That’s below the Street’s view of $3.76 and marks the second time Helen of Troy has narrowed its fiscal 2013 outlook.

“Similar to other global consumer products companies, we faced many challenges in light of continuing consumer uncertainty and global economic problems,” Helen of Troy CEO Gerald Rubin said in a statement.

In the latest quarter, revenue for the three-months ended Aug. 31 climbed 3.6% to $287.4 million, up from $277.4 million a year ago, missing the Street’s view of $310 million.

Helen of Troy sees fiscal 2013 sales in the range of $1.3 billion to $1.325 billion, which is above the consensus of $1.31 billion.