Alberto-Culver 2Q Profit Up Nearly 16%

The Alberto-Culver Co. (said Thursday its net income climbed 15.9% in the latest quarter, boosted by growth in the company’s consumer packaged goods and professional beauty supply distribution businesses.

Alberto-Culver reported net income of $37.9 million, or 63 cents a share, for the fiscal 2003 second quarter ended March 31. That compares with $32.7 million, or 55 cents per share, for the prior second quarter.

Sales in the latest quarter rose 7.5%, to $707 million from $657.8 million. That marked the first quarter in the company’s history in which it achieved more than $700 million in sales, Alberto-Culver said. The company added that it expects to post its 12th consecutive year of record sales and profits for the fiscal year ending Sept. 30. In fiscal 2002, the company reported earnings of $137.7 million, or $2.32 a share, on sales of $2.65 billion.