Due to the non-cash charge
taken in conjunction with the November, 2003 conversion to a single class of stock, the prior year gain from the sale of Indola and the disclosure of organic sales growth rates, this press release contains certain non-GAAP financial measures as defined by Regulation G of the Securities and Exchange Commission.
Net earnings for the first half, excluding the non-cash charge
in the current and prior year, increased 16.
Three Months Ended December 31, 2004 2003 Net earnings, as reported $49,418 1,741 Non-cash charge
related to conversion to one class of common stock, net of income taxes 2,464 41,060 Net earnings excluding non-cash charge
$51,882 42,801 Basic net earnings per share, as reported $.
Consolidated Condensed Statements of Earnings (Unaudited) (in thousands, except per share data) Three Months Ended June 30, 2004 and 2003 2004 2003 Net sales $823,224 736,057 Cost of products sold 404,267 371,889 Gross profit 418,957 364,168 Advertising, marketing, selling and 335,343 293,420 administrative Non-cash charge
related to conversion to one 7,769 -- class of common stock * Gain on sale of business (10,147) -- Operating earnings 85,992 70,748 Interest expense, net 5,507 5,652 Earnings before income taxes 80,485 65,096 Provision for income taxes 29,021 22,532 Net earnings $51,464 $42,564 Net earnings per share: Basic $.
Alberto-Culver continues to grow aggressively and is on track to mark both its thirteenth consecutive year of record sales and record earnings, excluding the non-cash charge
, and its first ever $3 billion sales year in fiscal 2004.
Three Months Ended December 31, 2003 2002 Net earnings, as reported $1,741 36,016 Non-cash charge
related to conversion to one class of common stock, net of income taxes 41,060 Net earnings excluding non-cash charge
$42,801 36,016 Basic net earnings per share, as reported $.
The increase was principally due to an expected increase in non-cash charges
of $1,771,000 related to the losses incurred by the company's unconsolidated subsidiary ICT-Europe, offset by an increase in interest income of $46,000.
The net result of the restatement of the Company's interim statements for the quarter ended June 30, 2006 is the recording of a non-cash charge
of $78,000 to interest expense resulting in an increase in the net loss of $78,000, an increase in the basic and diluted loss per share of $(0.
The non-cash charge
includes deferred tax assets as of the beginning of the year and income tax benefits recorded during fiscal 2006.
Other expenses decreased by $584,000 for the third quarter of fiscal 1994, compared to the third quarter of fiscal 1993, principally due to the decrease in non-cash charges
relating to the loss in ICT-Europe, which totaled $0.
The total non-cash charges
to operations for the second quarter of fiscal 1994 amounted to $1,394,000, or $0.
A) 1994 net income, exclusive of the net non-cash charges
related to the Option and Deferred Compensation Plans, was $7.