Home Banking & Finance Prestige Brands reveals growth in year end earnings report

Prestige Brands reveals growth in year end earnings report

Prestige Brands Holdings Inc. released results for its third fiscal quarter ended Dec. 31, 2012. The Tarrytown-based company, which markets and distributes brand-name over-the-counter and household cleaning products, posted revenues of $160.2 million, an increase of 50.8 percent from the previous year.

Revenues for the nine-month period ended Dec. 31 reached $469.1 million, which is a 52.8 percent increase over the same time the previous year. The third quarter and year-to-date growth can be attributed to the company’s core over-the-counter (OTC) health care brands and revenue from the company’s acquisition of a portfolio of 17 OTC brands from GlaxoSmithKline (GSK).

Additionally, the company reported net income for the third fiscal quarter of $12.3 million, or $0.24 per diluted share, versus $9.5 million, or $0.19 per diluted share, in 2011 during the same time. The increase in reported net income was 28.9 percent and 26.3 percent in diluted earnings per share.

Prestige’s adjusted net income and adjusted earnings per share for the third fiscal quarter of 2012 jumped by 53.9 percent and 48.0 percent respectively to $19.3 million, or $0.37 per diluted share, for the quarter ended Dec . 31. That’s compared to $12.5 million, or $0.25 per diluted share, in the year before during the same time period.

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