Energizer posts $7 million increase in profit in second quarter 2013
ST. LOUIS — Energizer Holdings had sales of $1.095 billion in second quarter 2013, a 0.5% decrease from second quarter 2012, and $2.28 billion for the first six months of the fiscal year, which ended March 31, also a 0.5% decrease from the same period last year, the company said.
Profits for the quarter were $85 million, compared with $78 million last year.
"We are pleased with second quarter earnings and the progress we have made on our cost-reduction initiatives, which are tracking ahead of plan," Energizer CEO Ward Klein said. "We experienced flat organic sales in the quarter as a modest top-line growth in personal care was offset by declines in household products. The growth in personal care was negatively impacted by extraordinary competitive promotional activity, which we believe contributed to overall category deflation."
The company's personal care segment, which includes shaving and skin care products, increased by 0.2% over second quarter 2012, to $652.6 million, while the household products segments, which includes batteries, decreased by 1.6%, from $450.3 million in second quarter 2012 to $443.3 million.
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