Tarrytown-headquartered Prestige Consumer Healthcare Inc. (NYSE:PBH) reported $279.3 million in revenue for its fiscal year first quarter, up 0.8% from the $277.1 million recorded one year earlier.
The company added that its revenues increased 1.8% excluding the impact of foreign currency. Reported net income for the quarter totaled $53.3 million, compared to the prior year”™s $55.3 million ”“ the decline was attributed to the company”™s international OTC segments. Diluted earnings per share of $1.06 for the first quarter compared to $1.09 in the prior year comparable period.
“We are pleased with our first quarter results that delivered a strong start to the year,” said CEO Ron Lombardi. “Solid Q1 revenue and profit growth were slightly ahead of our expectations, thanks to our leading and diversified portfolio of brands. Our strategic priority of disciplined capital deployment remains unchanged, and during Q1 we completed our share repurchase program while further reducing debt and leverage.”
Lombardi added the company”™s new fiscal year is being “fueled by robust growth in multiple categories such as dermatological and gastrointestinal, and highlights the impact of our long-standing brand-building across our diverse portfolio. Meanwhile, we continued to generate strong profitability and free cash flow that allowed us to reduce our leverage to 3.2x at the end of Q1, even with our $25 million share repurchase that drove additional shareholder value.”
Prestige offers consumer health care products including the Monistat and Summer”™s Eve women’s health products, the BC and Goody’s pain relievers, the Clear Eyes and TheraTears eye care products, the Dramamine motion sickness treatments, and the Fleet enemas and glycerin suppositories.
