Alberto sales
This article was originally published in The Rose Sheet
Executive Summary
Alberto-Culver will consider acquiring Keri Lotion from Bristol-Myers Squibb and has made its interest known, President and CEO Howard Bernick states during a Jan. 27 fiscal first quarter sales and earnings (ended Dec. 31) analyst call. Bernick has been eyeing Keri as a fit with Alberto's portfolio for a number of years. However, it is anticipated BMS will sell the U.S. and Canadian Consumer Medicines business as one unit, in which case Bernick says he hopes the potential buyer may be looking to shed Keri. First quarter sales, up 10.8% to $848 mil., were driven by consumer products (up 9.4% to $303.7 mil.) and beauty supply distribution (up 12.1% to $550.8 mil.), the firm reports. Net earnings were $51.9 mil., up 21.2%, excluding a $2.5 mil. non-cash charge related to the company's stock conversion. Including charges in both the year ago and current period, net earnings were $49.4 mil., compared to $1.7 mil. a year ago...