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Household and personal care products manufacturer Helen of Troy Limited (NASDAQ: HELE) posted record 1Q sales and earnings up 29%. Great news, until one reads these earnings exclude "significant items" such as $7.6 million in write-down of intangible assets, and $2.5 million bad debt charge for a customer bankruptcy. Take $10+ million off the top and the results, thought still favorable, are considerably less impressive. The company did set 1Q sales, up 3.4% overall, driven primarily by a 15% increase in sales in the Household Products segment which includes OXO and Dr. Scholl's brands. Sales in the Personal Care segment, which includes Vidal Sassoon, Brut and Revlon, were flat. Operating income and gross margins are headed up. Administrative expenses and inventory levels are headed down, all good news.

If all the "significant items" are out in the open and have been taken out of earnings, Helen of Troy is worth some due diligence. The stock currently trades under $19, up from its 52-week low of $14.56.

Helen of Troy (HELE) launches great earnings but ... originally appeared on BloggingStocks on Fri, 11 Jul 2008 14:12:00 EST. Please see our terms for use of feeds.

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