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.
