Helen Of Troy Reports Net Sales Revenue Rose Slightly In 4Q Of FY 2016

Helen of Troy reported net sales revenue rose 2.1 percent to $385.7 million in the fourth quarter of fiscal year 2016, compared with the same quarter of the previous year. Gross profit margin decreased 1.7 percentage points to 42.0 percent, compared with 43.7 percent for the same period in the previous year. According to the company, the decrease in consolidated gross profit margin was mainly due to a non-cash impairment charge of $9.1 million recorded to reflect the company's inventory in Venezuela. Operating income declined from $49 million for the same period in the previous year to this year's $16 million, due to Venezuelan currency re-measurement charges of $18.7 million; impact of a $17.8 million patent litigation charge; negative impact of foreign currency fluctuations; and a non-cash impairment charge of $3 million related to a trademark in the beauty business.