Energizer Holdings fiscal 2nd-quarter profit rises, sales upon acquisitions, currency exchange

Energizer 2Q profit and sales rise on acquisitions

ST. LOUIS — Energizer Holdings Inc. said Tuesday that its profit rose 15 percent in its fiscal second quarter as sales increased and the consumer products company benefited from its integration of the Edge and Skintimate brands.

The company earned $88.5 million, or $1.25 per share, in the three-month period ending March 31. In the year-ago quarter, the company earned $77 million, or $1.30 per share.

The company’s per-share profit in the latest quarter because the company had more shares outstanding due to an equity issuance in May 2009. Energizer estimated the higher amount of shares reduced earnings per share by 24 cents.

The company said its latest quarter also included a gain of 3 cents per share on the adjustment of the devaluation charge for its Venezuela affiliate, and a charge of a penny per share related to business realignment and integration activities.

Revenue rose 6.2 percent to $935.1 million.

Analysts expected Energizer to earn $1.09 per share on revenue of $973.1 million, according to a Thomson Reuters survey.

Energizer said $41 million of its revenue gain was due to the impact of foreign currency. The inclusion of the Edge and Skintimate lines of shaving gels added $32 million to net sales.

Household product sales rose 6 percent to $441.8 million, with currency gains making up the bulk of the improvement.

In personal care, net sales rose 6 percent to $493.3 million, with much of the gain due to currency exchange and new acquisitions.

Energizer completed its buyout of Edge and Skintimate from S.C. Johnson & Sons Inc. in June 2009.

Shares fell 77 cents to $61.41 in afternoon trading.