Alberto-Culver Reports Strong 2Q, First Half 2008

Alberto-Culver Company—manufacturer and marketer of personal care products including TreSemme, Alberto VO5, Nexxus and St. Ives—posted record sales and earnings from continuing operations for its second quarter and first half of fiscal year 2008.

Net sales for the first half increased 10.7% to $813.5 million from $734.5 million in the prior year. Net sales for the second quarter increased 7.7% to $412.8 million.

The company also reported that its gross profit margin increased to 53.4% compared to 52.1% in the prior year quarter, mainly due to effective inventory management and manufacturing efficiencies.

At press time, the Alberto-Culver Company reached an agreement to sell its Cederroth International business to CapMan, a Nordic-based private equity firm. According to the company, the sale is subject to customary closing conditions, including obtaining certain regulatory approvals and is expected to close this summer. Alberto-Culver acquired the Cederroth International business in the early 1990’s.