Alberto-Culver Posts Big Gains in Third

The Alberto-Culver Company today reported that double-digit sales and earnings growth had propelled it to a record fiscal year 2000 third quarter and nine months in the period ending June 30, 2000.

Sales for the third quarter increased 14.5% to $573.1 million and net earnings increased 12.3% to $25.5 million. For the nine months, sales increased 13.8% to $1.65 billion.

Howard B. Bernick, the company’s president and chief executive officer, said Alberto Culver’s North American consumer packaged goods unit posted a sales increase for the quarter in its core business of 15% primarily driven by its Alberto VO5 and St. Ives Swiss Formula lines. Including the results from Pro-Line International, a market-leading manufacturer of ethnic hair care products acquired by the company in late March, Mr. Bernick said the unit’s sales growth rate had topped 25%. Mr. Bernick said that the company’s international package good sales for the quarter had been up nicely in local currencies, but that those results were masked somewhat by the continuing strength of the U.S. dollar.

“With three record quarters in hand and prospects appearing good for the fourth quarter, we expect to achieve our ninth consecutive year of record sales and record profits in fiscal 2000,” said Mr. Bernick. “We are currently in the planning stages for our 2001 fiscal year and are working hard for another solid growth year for Alberto-Culver’s brands, businesses and shareholders.”