From: Reuters
Published January 29, 2008 09:28 AM

Energizer profit down on Playtex costs

NEW YORK (Reuters) - Energizer Holdings Inc <ENR.N>, known for its namesake batteries and Schick razors, posted a lower quarterly profit on Tuesday as expenses tied to its acquisition of Playtex Products offset higher sales.

Net profit was $102.6 million, or $1.74 a share, in the fiscal first quarter ended December 31, compared with $122.3 million, or $2.08 a share, a year earlier.

Sales rose 24 percent to $1.19 billion, boosted by the acquisition of Playtex, whose products include sunscreen brands Banana Boat and Hawaiian Tropic and its namesake tampons.

Energizer said the addition of Playtex, acquired last year, increased its quarterly sales by $148.5 million.

ADVERTISEMENT

Net earnings included an after-tax charge of $15.5 million, or 26 cents a share, related to writing up and selling some inventory from the Playtex deal, and $5.2 million, or 9 cents a share, in integration costs.

The company said it expects costs for nickel, one of the raw materials used in batteries, and other commodities to rise by $10 million to $15 million for the rest of the year compared with a year earlier.

(Reporting by Aarthi Sivaraman, editing by Gerald E. McCormick and John Wallace)

Terms of Use | Privacy Policy

2018©. Copyright Environmental News Network