Alberto-Culver Co.’s third-quarter earnings took a beating from its soon-to-be sold Cederroth International consumer products business, pushing the bottom line down 15.8 percent to $21.1 million, or 21 cents a diluted share, from $25.1 million, or 25 cents a year ago.
Profits from ongoing operations advanced 27.8 percent to $29.7 million.
Sales for the three months ended June 30 rose 12.3 percent to $364.9 million from $325 million.
“As the operating environment changes around us, we continue to position our company to better facilitate growth in those categories where we excel, and our pending divestiture of Cederroth International allows us to sharpen our focus on beauty care,” said Carol Lavin Bernick, executive chairman.
Cederroth manufactures and markets consumer products in the Nordic region and parts of Europe with only some brands competing in beauty care categories.
Over the nine months, the producer of TRESemmé, Alberto VO5, Nexxus and St. Ives, pushed profits up 94.1 percent to $81.1 million, or 80 cents a share, on a 10.6 percent rise in sales to $1.1 billion.
For complete coverage, see Tuesday’s issue of WWD.