Prestige Brands Holdings, Inc. Reports Record Fiscal 2015 Fourth Quarter and Full Year Results
Fourth Quarter Revenues Up 32.9%: Full Year Earnings Up 19.6%
Tarrytown, NY-(Business Wire)-May 14, 2015--Prestige Brands Holdings, Inc. (NYSE: PBH) today reported strong financial results for its fourth quarter and fiscal year ended March 31, 2015.
Key fourth quarter and fiscal year highlights include:
Revenue increased 32.9% to a record $190.0 million and 19.6% to a record $714.6 million in Q4 and FY2015, respectively
Organic sales growth of 2.4% in Q4, excluding the impact of foreign exchange
Adjusted free cash flow increased 45.0% in Q4 to $50.1 million
Adjusted net income increased 33.1% to $24.8 million, or $0.47 per diluted share in Q4; FY15 adjusted net income increased 22.7% to $98.0 million, or $1.86 per diluted share.
“We are extremely pleased with our fourth quarter and full fiscal year results,” said Matthew M. Mannelly, President and CEO. “Our excellent fourth quarter results reflect continued strengthening of consumption trends across our core OTC and international brands resulting in record adjusted free cash flow of over $50 million during the quarter. Fiscal year 2015 was Prestige Brands’ greatest year to date,” he said. “This strong momentum positions the Company well as we enter fiscal 2016.”
Fourth Fiscal Quarter Ended March 31, 2015
Revenues in the fourth fiscal quarter increased 32.9% to a record $190.0 million, compared to $143.1 million in the fourth quarter of 2014. Organic sales growth for the quarter was 2.4% excluding the impact of foreign exchange, or 1.1% including the impact of foreign exchange. Reported net income totaled $23.8 million, or $0.45 per diluted share, compared to $16.0 million, or $0.30 per diluted share, in the fourth quarter of fiscal year 2014. Reported earnings per share increased 50.0% to $0.45 compared to $0.30 in the prior year comparable period. Adjusted net income increased 33.1% to $24.8 million, or $0.47 per diluted share, compared to $18.6 million, or $0.35 per diluted share, in the fourth quarter of fiscal year 2014. Adjustments to net income in the fourth quarter of fiscal 2015 consist of items related to the acquisitions of Insight and Hydralyte.
The following information was filed by Prestige Brands Holdings, Inc. (PBH) on Thursday, May 14, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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Ticker: PBH CIK: 1295947 Form Type:10-K Annual Report Accession Number: 0001295947-15-000015 Submitted to the SEC: Thu May 14 2015 5:01:21 PM EST Accepted by the SEC: Thu May 14 2015 Period: Tuesday, March 31, 2015 Industry: Pharmaceutical Preparations