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Sally Beauty Holdings, Inc. (SBH) SEC Filing 10-K Annual report for the fiscal year ending Thursday, September 30, 2010

Sally Beauty Holdings, Inc.

CIK: 1368458 Ticker: SBH

Exhibit 99.1

 

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Karen Fugate

 

 

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Sally Beauty Holdings, Inc. Reports Strong Fourth Quarter and Full Year Results

 

·                  Net sales in 4Q10 of $748 million and FY2010 of $2.9 billion, both periods up 11%

·                  Same store sales growth in 4Q10 and FY2010; 5.3% and 4.6% respectively

·                  4Q10 net earnings of $42 million; up 56% vs. 4Q09 GAAP net earnings and up 69% vs. 4Q09 adjusted net earnings

·                  4Q10 diluted earnings per share of $0.23; up 53% over 4Q09 GAAP diluted earnings per share of $0.15 and up 64% over 4Q09 diluted adjusted earnings per share of $0.14

·                  FY2010 GAAP net earnings of $144 million, up 45% over FY2009

·                  FY2010 adjusted net earnings of $142 million, up 48% over FY2009

·                  FY2010 GAAP and adjusted diluted earnings per share of $0.78 and $0.77(1), respectively

·                  Paid down $125 million in long-term debt during FY2010

 

DENTON, Texas, November 18, 2010 — Sally Beauty Holdings, Inc. (NYSE: SBH) (the “Company”) today announced strong financial results for the fourth quarter and fiscal year ended September 30, 2010.  The Company will hold a conference call today at 10:00 a.m. (Central) to discuss these results and its business.

 

“Sally Beauty Holdings delivered outstanding results across the businesses in fiscal year 2010,” stated Gary Winterhalter, President and Chief Executive Officer. “For the fiscal year, consolidated sales were up 10.6%, bolstered by same store sales growth of 4.6%.  Net earnings grew by 45% over the prior year and adjusted EBITDA reached $405 million. We executed on all of our strategic objectives, including the addition of 145 stores, gross margin expansion of 100 basis points, and a reduction in our long-term debt by $125 million.  Looking ahead to fiscal year 2011, we anticipate another year of growth and strong performance.”

 

FISCAL 2010 FOURTH QUARTER AND FULL YEAR 2010 FINANCIAL HIGHLIGHTS

 

Net Sales:  For the fiscal 2010 fourth quarter, consolidated net sales were $747.8 million, an increase of 10.6% from the fiscal 2009 fourth quarter.  This fiscal 2010 fourth quarter sales increase is attributed to same stores sales growth, acquisitions and the addition of new stores.  The unfavorable impact from changes in foreign currency exchange rates in the fiscal 2010 fourth quarter was $4.0 million or 0.6% of sales on a consolidated basis.  Consolidated same store sales growth in the fiscal 2010 fourth quarter was 5.3% compared to 2.4% in the fiscal 2009 fourth quarter.

 

Consolidated net sales for fiscal year 2010 were $2.9 billion, an increase of 10.6% from fiscal year 2009, and include a positive impact from foreign currency exchange of $17.2 million, or 0.7% of sales.  Fiscal 2010 sales increased primarily due to same stores sales growth, acquisitions and the addition of new stores.  Consolidated same store sales growth in fiscal year 2010 was 4.6% compared to 1.8% in fiscal year 2009.

 

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The following information was filed by Sally Beauty Holdings, Inc. (SBH) on Thursday, November 18, 2010 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: SBH
CIK: 1368458
Form Type: 10-K Annual Report
Accession Number: 0001047469-10-009883
Submitted to the SEC: Thu Nov 18 2010 9:42:22 AM EST
Accepted by the SEC: Thu Nov 18 2010
Period: Thursday, September 30, 2010
Industry: Retail Stores

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