Alberto-Culver Q1
This article was originally published in The Rose Sheet
Executive Summary
Firm reports results of its first quarter (ended Dec. 31) as an independent company Jan. 25, crediting 12.6% increase in sales to $351.1 mil. to strong growth in Nexxus and TRESemme. Gross profit grew 12.3% to $180.9 mil., while earnings were "essentially breakeven" after restructuring costs, firm says. The company increased its ad spend 20.9% to $61 mil. as part of an "ongoing effort to support and further expand our brands," president and CEO V. James Marino said. "This quarter marks a new beginning for Alberto-Culver and its shareholders, and we are focused on our efforts to drive results and create value over the long term," he remarked. Brand announced a "right-sizing" plan in December (1"The Rose Sheet" Dec. 4, 2006, In Brief)...