Helen of Troy Limited (NASDAQ:HELE) Q4 2018 Earnings Conference Call - Preliminary Transcript

Apr 26, 2018 • 09:00 am ET


Helen of Troy Limited (NASDAQ:HELE) Q4 2018 Earnings Conference Call - Preliminary Transcript


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Good day, and welcome to the Helen of Troy Limited Fourth Quarter 2018 Earnings Call. Today's conference is being recorded. At this time, I'd like to turn the conference over to Jack Jancin, Senior Vice President, Corporate Business Development. Please go ahead.

Jack Jancin

Thank you, operator. Good morning, everyone, and welcome to Helen of Troy's fourth quarter fiscal 2018 earnings conference call. The agenda for the call this morning is as follows: I'll begin with a brief discussion of forward-looking statements; Mr. Julien Mininberg, the Company's CEO, will comment on the financial performance of the quarter and accomplishments of the year, and then outline areas of focus for fiscal 2019; then, Mr. Brian Grass, the Company's CFO, will review the financials in more detail and comment on the Company's outlook for fiscal 2019. Following this, Mr. Mininberg and Mr. Grass will take questions you have for us today. This conference call may contain certain forward-looking statements that are based on management's current expectation with respect to future events or financial performance.

Generally, the words anticipates, believes, expects and other similar words are words identifying forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties that could cause anticipated results to differ materially from actual results. This conference call may also include information that may be considered non-GAAP financial information. These non-GAAP measures are not an alternative to GAAP financial information and may be calculated differently than the non-GAAP financial information disclosed by other companies.

The Company cautions listeners not to place undue reliance on forward-looking statements or non-GAAP information. Before I turn the call over to Mr. Mininberg, I'd like to inform all interested parties that a copy of today's earnings release has been posted to the Company's website at www.hotus.com. The earnings release contains tables that reconcile non-GAAP financial measures to their corresponding GAAP-based measures. The release can be obtained by selecting the Investor Relations tab on the Company's homepage and then the News tab.

I will now turn the conference call over to Mr. Mininberg.

Julien R. Mininberg

Thanks, Jack, and good morning, everyone. Thanks for joining us today. Welcome to our call. I'm pleased to report that our continued execution against our clear and focused transformation plan enabled us to deliver a strong fourth quarter and another successful year at Helen of Troy. Before continuing, I'd like to point out that I'll be focusing my remarks on our results from continuing operations. As announced in December 2017, we completed the divestiture of Healthy Directions early in our fiscal fourth quarter. This is in line with our strategy of focusing our resources on our Leadership Brands which comprise the majority of our revenue and an even higher proportion of our operating profit. We finished fiscal year 2018 strong. We delivered fourth quarter results above our expectations.

During the quarter, net sales from continuing operations grew 12.5% and adjusted diluted earnings per share rose 9% to $1.69. Our performance was supported by an especially severe cough, cold and flu season, strength