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Article: ALBERTO-CULVER MEETS ESTIMATES IN QUARTER.
- Article from:
- WWD
- Article date:
- July 27, 2001
- Author:
CopyrightCOPYRIGHT 2001 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK -- Alberto-Culver Co. posted solid, yet expected, third-quarter results and said it's managing to reap at least some benefits from the sluggish economy.
Net income jumped 14.2 percent, to $29.1 million, or 50 cents a diluted share, from $25.5 million, or 45 cents, a year ago. Sales for the period ended June 30 rose 10.7 percent, to $634.4 million, against $573.1 million a year ago.
Results were on target with expectations and while analysts were pleased with the results, the stock failed to react, inching up a mere 2 cents to close at $43.70 Thursday on the New York Stock Exchange.
On a conference call, Howard Bernick, president and ...