Helen Of Troy Sinks In Pre-Market Following Quarterly Results

(RTTNews) - Shares of Helen of Troy Limited (HELE) were falling more than 24 percent in pre-market on Tuesday to $67.04, after reporting first-quarter results below analysts' view. The consumer products company also cut its full-year outlook.

Profit was $6.20 million or $0.26 per share for the first quarter, significantly lower than $22.58 million or $0.94 per share in the same quarter a year ago. Besides decreased sales, income tax expenses of $12.12 million this year, up from $4.15 million last year also impacted the bottom line.

Excluding one-time items, earnings were $23.3 million or $0.99 per share, that missed the average estimate of analysts of $1.59 per share. Analysts' estimates typically exclude special items.

Revenue for the quarter declined 12.2 percent to $416.85 million from $474.67 million in the previous year. The consensus estimate was for $445.85 million.

For the full year, the company currently expects sales revenue to be in the range of $1.885 billion - $1.935 billion, a decline of 6 percent-3.5 percent, compared to the previous outlook for a drop of 2 percent to growth of 1 percent.

EPS outlook for the year has been lowered to $4.69-$5.45 from $6.68-$7.45, and adjusted EPS to the range of $7.00 to $7.50, from $8.70 to $9.20, guided earlier.

Analysts expect the company to report earnings of $8.93 per share on revenue of $1.99 billion for the year.

Helen of Troy shares had closed at $89.01, up 1.08 percent on Monday. The stock has traded in the range of $87.27 - $143.68 in the last 1 year.