Helen of Troy Reports Better-Than-Expected Q2 Earnings

Helen of Troy Ltd HELE posted upbeat Q2 earnings, driven by strength at its housewares segment. HELE posted its earnings at $23.5 million, or $0.75 per share, up from $15.9 million, or $0.51 per share, in the year-ago period. HELE net sales revenue rose 7.8% y/y to $174.84 million, as compared to $162,193,000 in the year-ago period. However, analysts expected the company to post its earnings at $0.64 per share, on revenue of $181.2 million. Gerald J. Rubin, Chairman, Chief Executive Officer and President said, "We are extremely pleased with our record sales and record earnings results for the second quarter and fiscal year-to-date. Although the worldwide retail environment continues to be challenging, we continue to have organic sales growth in our Housewares Segment, which sells OXO branded goods.” Rubin added, "We believe the Company's core strengths remain strong, and we continue to execute our business plan for fiscal year 2011, as detailed in our fiscal year 2010 annual report. Our business plan includes introducing new product offerings, striving for increased market share through channel expansion and providing product innovation. We also continue to pursue further process efficiencies and related selling, general and administrative expense reductions. We believe we are well positioned as we move into the fall selling season." HELE shares closed at $26.89 yesterday. Read more from Benzinga's Company news.