Helen of Troy net sales revenue increase by 10.6% in Q1 2012

Helen of Troy has reported an increase in net sales revenue of 10.6% to $300.2m in the first quarter 2012, compared to $271.46m for the same period in 2011.

The US-based firm’s net income for the first quarter has decreased to $23.47m, as against $24.60m in the 2011 first quarter.

Personal care segment first quarter net sales revenue declined by 4.2% to $117.55, compared to $122.71 for the same period in 2011, said the personal care products manufacturer.

According to the firm, the decrease in net sales revenue occurred due to the increase in competitive trade promotional activities, product availability issues with suppliers, and the impact of foreign currency instability in the US, Latin America and Europe.

Helen of Troy chairman, chief executive officer and president Gerald Rubin said in the first quarter, the company had reported an increase in its net sales revenue and operating income.

"Similar to other global consumer products companies, we faced many challenges in light of continuing consumer uncertainty and global economic problems. We are pleased that we were able to achieve growth in net sales revenue, operating income and EBITDA without share-based compensation, in a challenging retail sales environment", said Rubin.

The US-based firm’s cosmetics and personal care brands, which include Revlon, Vidal Sassoon, Sunbeam and Girly Glam, posted net sales revenue increases of 13.8% and 27.8% in its houswares and healthcare/home environment segments respectively.