Helen of Troy Reports a Surge in Net Income

Apparently, the recession has consumers cutting back on hair styling gizmos too. Helen of Troy Limited, a designer, developer and worldwide marketer of brand-name personal care and household consumer products, announced first quarter sales declined 0.8% to $143.8 million.

However, first quarter net earnings rose 161% to $14.5 million. First quarter net earnings for the prior year included several significant items including non-cash impairment charges of $7,605,000.

First quarter sales in the housewares segment increased 11% to $42.6 million, reflecting continued strength in theOXO brands worldwide.

Sales in the personal care segment fell 5% to $101.1 million, primarily reflecting the continuing difficult retail environment and the negative impact of foreign currency fluctuations.