Constellation Brands Inc. (NYSE:STZ) saw profit fall amid falling revenue. Net income for Constellation Brands Inc. fell to $104.8 million (52 cents per share) vs. $139.3 million (65 cents per share) a year earlier. This is a decline of 24.8% from the year earlier quarter. Revenue fell 27.5% to $700.7 million from the year earlier quarter. STZ fell short of the mean analyst estimate of 52 cents per share. It fell short of the average revenue estimate of $720.4 million.
“Our third quarter results were generally consistent with our expectations for the business and reflect continuing progress particularly in the areas of free cash flow generation and improving depletion trends for our U.S. wine and spirits business. I am especially pleased with the ongoing momentum from our new product development and brand building initiatives,” said Rob Sands, president and chief executive officer, Constellation Brands.
Competitors to Watch: Castle Brands Inc. (AMEX:ROX), Diageo plc (NYSE:DEO), Willamette Valley Vineyards, Inc. (NASDAQ:WVVI), Molson Coors Brewing Co. (NYSE:TAP), Craft Brewers Alliance, Inc. (NASDAQ:HOOK), Compania Cervecerias Unidas S.A. (NYSE:CCU), Scheid Vineyards Inc. (SVIN), Heineken N.V. (HINKY), and Fortune Brands, Inc. (NYSE:FO).
Helen of Troy Limited (NASDAQ:HELE) reported its results for the second quarter. Net income for Helen of Troy Limited rose to $32.9 million ($1.04 per share) vs. $27.1 million (86 cents per share) in the same quarter a year earlier. This marks a rise of 21% from the year earlier quarter. Revenue rose 65% to $338.8 million from the year earlier quarter. HELE beat the mean analyst estimate of $1.02 per share. It beat the average revenue estimate of $323.9 million.
Gerald J. Rubin , Chairman, Chief Executive Officer and President, commenting on the Company’s results, stated “We are pleased with our record sales and record earnings for the third quarter and year to date given a challenging retail environment. Operating income increased by 32.6 and 25.5 percent, respectively, for the three- and nine-months ended November 30 , 2011. The integration of and expansion of our business in the Healthcare / Home Environment segment continues to progress according to plan. On December 30, 2011 , we completed our acquisition of the PUR home water filtration business (“PUR”) from the Proctor & Gamble Company, at a purchase price of $160,000,000 . PUR’s product lines include faucet mount water filtration systems and filters, pitcher filtration systems and filters and refrigerator filters. PUR will be operated as part of our Healthcare / Home Environment segment. PUR shares many of the segment’s existing customer base, target audience, and product focus areas. The acquisition of PUR adds an important brand to our portfolio of well-recognized and widely-trusted consumer brands. We believe the acquisition will be immediately accretive to earnings.”
Competitors to Watch: Deer Consumer Products, Inc. (NASDAQ:DEER), Jarden Corporation (NYSE:JAH), Global-Tech Advanced Innovations Inc. (NASDAQ:GAI), The Procter & Gamble Co. (NYSE:PG), Church & Dwight Co., Inc. (NYSE:CHD), Colgate-Palmolive Company (NYSE:CL), The Clorox Company (NYSE:CLX), Kimberly-Clark Corporation (NYSE:KMB), Johnson & Johnson (NYSE:JNJ), Teva Pharmaceutical Industries Ltd (NASDAQ:TEVA), CCA Industries, Inc. (AMEX:CAW), and Zep, Inc. (NYSE:ZEP).