pbhform8kmay132010.htm




UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549


 
FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):   May 13, 2010


PRESTIGE BRANDS HOLDINGS, INC.
(Exact name of registrant as specified in its charter)
 
Delaware   001-32433 20-1297589
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation)   Identification No.)
                                                                                                         
90 North Broadway, Irvington, New York 10533
(Address of principal executive offices, including Zip Code)

 (914) 524-6810
(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[  ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[  ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[  ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 




Item 2.02 Results of Operations and Financial Condition.

On May 13, 2010, Prestige Brands Holdings, Inc. (the “Registrant”) announced financial results for the fiscal quarter and year ended March 31, 2010.  A copy of the press release announcing the Registrant’s earnings results for the fiscal quarter and year ended March 31, 2010 is attached hereto as Exhibit 99.1 and incorporated herein by reference.

The information in this Form 8-K and Exhibit 99.1 attached hereto shall not be deemed to be ‘‘filed’’ for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, unless the Registrant specifically states that the information is to be considered “filed” under the Securities Exchange Act of 1934 or incorporates it by reference into a filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934.

Item 7.01.  Regulation FD Disclosure.

The information set forth in Item 2.02 above is incorporated by reference as if fully set forth herein.

Item 9.01 Financial Statements and Exhibits.

(d)  
Exhibits.

See Exhibit Index immediately following the signature page.


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated:  May 13, 2010  PRESTIGE BRANDS HOLDINGS, INC.  
       
       
 
By:
/s/ Peter J. Anderson  
    Name: Peter J. Anderson  
    Title: Chief Financial Officer  
       
                                                               


                                                            

EXHIBIT INDEX

Exhibit
Description
 
99.1
 
Press Release dated May 13, 2010 announcing the Registrant’s financial results for the fiscal quarter and year ended March 31, 2010 (furnished only).

pressrelease.htm
Exhibit 99.1
For Release on May 13, 2010 at 6:00am ET

Prestige Brands Holdings, Inc. Reports Fourth Quarter and Fiscal 2010 Results
 
Irvington, NY—May 13, 2010—Prestige Brands Holdings, Inc. (NYSE-PBH) today reported results for the fourth fiscal quarter and fiscal year ended March 31, 2010.

Revenues for the fourth fiscal quarter were $71.4 million, which were $2.8 million, or 4% greater than the fourth quarter of fiscal 2009. These results reflect revenue increases in the over-the-counter healthcare and household cleaning products segments, and a decline in the personal care products segment. Contributing to the over-the-counter healthcare results was an increase in other revenues which reflects royalty revenue received as a result of a legal settlement.

Reported net income for the fourth fiscal quarter was $3.3 million, or $0.07 per diluted share, compared to a loss of $211.1 million or ($4.22) per diluted share in the prior year comparable quarter. Excluding charges for the impairment of intangible assets and loss on extinguishment of debt, net income (adjusted) would have been $7.4 million or $0.15 per diluted share during the 2010 fourth quarter compared to $9.0 million or $0.18 per diluted share in the prior year comparable period.  Net income (adjusted) is a “non-GAAP financial measure.” A table is included with the financial statements at the end of this news release which reconciles net income (adjusted) to net income, the most directly comparable measure presented in accordance with generally accepted accounting principles.

The decline in net income (adjusted) from 2009 to 2010 was primarily due to increased advertising and promotion (A&P) and general and administrative (G&A) expenses.

Commenting on the results, Matthew Mannelly, President and CEO said, “We are pleased with our revenue growth for the fourth quarter. Our results reflect our commitment to investing in and growing our core OTC brands. Our focus will continue to be against these core brands as we build upon the fourth quarter momentum in fiscal year 2011. In addition, we successfully completed our debt refinancing which we expect to provide us with ample liquidity through 2018, and additional borrowing capacity should an appropriate acquisition opportunity arise.”

Results by Segment for Fourth Fiscal Quarter

Over-The-Counter Healthcare
 

Net revenues for the OTC segment were $42.6 million, $2.8 million or 7% greater than the prior year comparable period. Net sales were $39.5 million, 1% below last year’s net sales of $39.8 million. Increases in sales of Clear Eyes®, Murine®, Compound W®, Dermoplast® and The Doctor’s® NightGuard™ were offset by sales declines in Chloraseptic®, Little Remedies®, and the Allergen Block products. Other revenue increased compared to the prior year due to the favorable outcome of a legal dispute.

Household Cleaning Products
This segment reported net revenues of $27.0 million, $300 thousand greater than the prior year comparable period. Sales increases in the Spic and Span® and Chore Boy® brands were offset by a slight decline in the Comet® brand.

Personal Care Products
Net revenues for the personal care segment were $1.8 million, $300 thousand or 14% below last year’s fourth fiscal quarter. The sales decline was primarily due to decreases in sales of Cutex®.

Fiscal Year 2010

The Company reported total revenues of $302.0 million for the fiscal year ended March 31, 2010, slightly below fiscal 2009 total revenues of $303.1 million. Reported net income of $32.1 million, or $0.64 per diluted share for 2010, compared to a loss of $186.8 million, or ($3.74) per diluted share in 2009. Excluding charges for the impairment of intangible assets and loss on extinguishment of debt, and the effects of an increase in deferred tax liabilities related to the divestiture of the shampoo brands, net income (adjusted) was $37.2 million or $0.74 per diluted share in 2010, compared to $33.3 million or $0.67 per diluted share during 2009.  Net income (adjusted) is a “non-GAAP financial measure.” A table is included with the financial statements at the end of this news release which reconciles net income (adjusted) to net income, the most directly comparable measure presented in accordance with generally accepted accounting principles.

Free Cash Flow
Free cash flow is a “non-GAAP financial measure” and is presented here because management believes it is a commonly used measure of liquidity, indicative of cash available for debt repayment and acquisitions. The company defines “free cash flow” as operating cash flow minus capital expenditures.

-2-

The company’s free cash flow for the fourth quarter ended March 31, 2010 was $8.7 million, a decrease of 34% from free cash flow of $13.2 million in the fourth fiscal quarter of 2009. The decrease in free cash flow is largely a result of payment of interest incurred by early retirement of certain debt in connection with the company’s recent refinancing and an increase in corporate tax receivables. For fiscal year 2010, free cash flow totaled $58.7 million, composed of operating cash flow of $59.4 million minus capital expenditures of $0.7 million. This compared to free cash flow of $66.2 million for fiscal year 2009, composed of operating cash flow of $66.7 million less capital expenditures of $0.5 million.

Conference Call
The Company will host a conference call today at 8:30 a.m. EDT. To access the call, listeners calling from within North America may dial 866-730-5764 at least 15 minutes prior to the start of the call.  To access the call from outside North America, callers should dial 857-350-1588.  The conference passcode is “prestige”. The Company will provide a live internet webcast as well as an archived replay, which can be accessed from the Investor Relations page of http://prestigebrandsinc.com.  Telephonic replays will be available for two weeks following the completion of the call and can be accessed at 888-286-8010 within North America, and at 617-801-6888 from outside North America.  The passcode is 98000111.

 
About Prestige Brands Holdings, Inc.
 
Located in Irvington, New York, Prestige Brands Holdings, Inc. is a marketer and distributor of brand name over-the-counter healthcare, household and personal care products sold throughout the U.S., Canada and certain international markets.  Key brands include Compound W® wart remover, Chloraseptic® sore throat and allergy treatment, New-Skin® liquid bandage, Clear Eyes® and Murine® eye and ear care products, The Doctor’s® NightGuard™ dental protector, Little Remedies® pediatric over-the-counter products, Cutex® nail polish remover, Comet® and Spic and Span® household products, and other well-known brands.
 
Forward-Looking Statements
 
Note: This news release contains "forward-looking statements" within the meaning of the federal securities laws and that are intended to qualify for the Safe Harbor from liability established by the Private Securities Litigation Reform Act of 1995.  "Forward-looking statements" generally can be identified by the use of forward-looking terminology such as "assumptions," "target," "guidance," "outlook," "plans," "projection," "may," "will," "would," "expect," "intend," "estimate," "anticipate," "believe, "potential," or "continue" (or the negative or other derivatives of each of these terms) or similar
 
-3-

terminology.  The "forward-looking statements" include, without limitation, statements regarding the liquidity and borrowing capacity of Prestige Brands Holdings.  These statements are based on management's estimates and assumptions with respect to future events and financial performance and are believed to be reasonable, though are inherently uncertain and difficult to predict.  Actual results could differ materially from those expected as a result of a variety of factors.  A discussion of factors that could cause results to vary is included in the Company's Annual Report on Form 10-K and other periodic and other reports filed with the Securities and Exchange Commission.
 
Contact: Dean Siegal
914-524-6819
 
-4-

Prestige Brands Holdings, Inc.
Consolidated Statements of Operations
(Unaudited)

   
Three Months Ended March 31
 
(In thousands, except per share data)
 
2010
   
2009
 
Revenues
           
Net sales
  $ 67,791     $ 68,355  
Other revenues
    3,591       289  
Total revenues
    71,382       68,644  
                 
Cost of Sales
               
Cost of sales
    35,917       34,407  
Gross profit
    35,465       34,237  
                 
Operating Expenses
               
Advertising and promotion
    6,591       5,648  
General and administrative
    8,108       6,241  
Depreciation and amortization
    2,771       2,497  
Impairment of goodwill and intangible assets
    2,751       249,285  
Total operating expenses
    20,221       263,671  
                 
Operating income (loss)
    15,244       (229,434 )
                 
Other (income) expense
               
Interest income
    -       -  
Interest expense
    6,082       5,923  
Loss on extinguishment of debt
    2,656       -  
Miscellaneous
    -       -  
Total other expense
    8,738       5,923  
                 
Income (loss) from continuing operations before
               
income taxes
    6,506       (235,357 )
                 
Provision (benefit) for income taxes
    3,255       (24,117 )
Income (loss) from continuing operations
    3,251       (211,240 )
                 
Discontinued Operations
               
Income from discontinued operations, net of
               
income tax
    36       143  
                 
Net income (loss)
    3,287       (211,097 )
                 
Basic earnings (loss) per share:
               
Income (loss) from continuing operations
  $ 0.06     $ (4.23 )
Net income (loss)
  $ 0.07     $ (4.22 )
                 
Diluted earnings (loss) per share:
               
Income (loss) from continuing operations
  $ 0.06     $ (4.23 )
Net Income (loss)
  $ 0.07     $ (4.22 )
                 
Weighted average shares outstanding:
               
Basic
    50,030       49,976  
Diluted
    50,105       49,976  
 
-5-

Prestige Brands Holdings, Inc.
Consolidated Statements of Operations
(Unaudited)

   
Year Ended March 31
 
(In thousands, except per share data)
 
2010
   
2009
   
2008
 
Revenues
                 
Net sales
  $ 296,922     $ 300,937     $ 313,125  
Other revenues
    5,101       2,210       1,982  
Total revenues
    302,023       303,147       315,107  
                         
Cost of Sales
                       
Cost of sales
    144,587       144,196       151,811  
Gross profit
    157,436       158,951       163,296  
                         
Operating Expenses
                       
Advertising and promotion
    31,236       37,777       34,243  
General and administrative
    34,195       31,888       31,414  
Depreciation and amortization
    10,552       9,423       9,219  
Impairment of goodwill and intangible assets
    2,751       249,285       -  
Total operating expenses
    78,734       328,373       74,876  
                         
Operating income (loss)
    78,702       (169,422 )     88,420  
                         
Other (income) expense
                       
Interest income
    (1 )     (143 )     (675 )
Interest expense
    22,936       28,579       38,068  
Loss on extinguishment of debt
    2,656       -       -  
Miscellaneous
    -       -       (187 )
Total other expense
    25,591       28,436       37,206  
                         
Income (loss) from continuing operations before
                       
income taxes
    53,111       (197,858 )     51,214  
                         
Provision (benefit) for income taxes
    21,849       (9,905 )     19,168  
Income (loss) from continuing operations
    31,262       (187,953 )     32,046  
                         
Discontinued Operations
                       
Income from discontinued operations, net of
                       
income tax
    696       1,177       1,873  
                         
Gain on sale of discontinued operations, net of income tax
    157        -        -  
                         
Net income (loss)
    32,115       (186,776 )     33,919  
                         
Basic earnings (loss) per share:
                       
Income (loss) from continuing operations
  $ 0.63     $ (3.76 )   $ 0.64  
Net income (loss)
  $ 0.64     $ (3.74 )   $ 0.68  
                         
Diluted earnings (loss) per share:
                       
Income (loss) from continuing operations
  $ 0.62     $ (3.76 )   $ 0.64  
Net Income (loss)
  $ 0.64     $ (3.74 )   $ 0.68  
                         
Weighted average shares outstanding:
                       
Basic
    50,013       49,935       49,751  
Diluted
    50,085       49,935       50,039  
 
-6-

Prestige Brands Holdings. Inc.
Consolidated Balance Sheets
(Unaudited)
(In thousands)
 
March 31
 
             
   
2010
   
2009
 
Assets
 
           
Current assets
           
Cash and cash equivalents
  $ 41,097     $ 35,181  
Accounts receivable
    30,621       36,025  
Inventories
    29,162       25,939  
Deferred income tax assets
    6,353       4,022  
Prepaid expenses and other current assets
    4,917       1,358  
Current assets of discontinued operations
    -       1,038  
Total current assets
    112,150       103,563  
                 
Property and equipment
    1,396       1,367  
Goodwill
    111,489       114,240  
Intangible assets
    559,229       569,137  
Other long-term assets
    7,148       4,602  
Long-term assets of discontinued operations
    -       8,472  
                 
Total Assets
    791,412       801,381  
                 
Liabilities and Stockholders’ Equity
               
Current liabilities
               
Accounts payable
  $ 12,771     $ 15,898  
Accrued interest payable
    1,561       5,371  
Other accrued liabilities
    11,733       9,407  
Current portion of long-term debt
    29,587       3,550  
Total current liabilities
    55,652       34,226  
                 
Long-term debt
               
Principal amount
    298,500       374,787  
Less unamortized discount
    3,943       -  
Long-term debt less unamortized discount
    294,557       374,787  
                 
Deferred income tax liabilities
    112,144       97,983  
                 
Total Liabilities
    462,353       506,996  
                 
Stockholders’ Equity
               
                 
Preferred stock - $0.01 par value
               
Authorized – 5,000 shares
               
Issued and outstanding – None
               
Common stock - $0.01 par value
               
Authorized – 250,000 shares
               
Issued – 50,154 shares at March 31, 2010 and 50,060 at March  2009
    502       501  
Additional paid-in capital
    384,027       382,803  
Treasury stock, at cost – 124 shares at
               
March 31, 2010 and 2009, respectively
    (63 )     (63 )
Accumulated other comprehensive income (loss)
    -       (1,334 )
Retained earnings (deficit)
    (55,407 )     (87,522 )
Total Stockholders’ Equity
    329,059       294,385  
                 
Total Liabilities and Stockholders’ Equity
    791,412       801,381  
 
-7-

Prestige Brands Holding, Inc.
Consolidated Statements of Cash Flows
(Unaudited)

   
Year Ended March 31
 
                   
(In thousands)
 
2010
   
2009
   
2008
 
                   
Operating Activities
 
 
   
 
   
 
 
Net income (loss)
  $ 32,115     $ (186,776 )   $ 33,919  
Adjustments to reconcile net income (loss) to net cash
provided by operating activities:
                 
Depreciation and amortization
    11,450       11,219       11,014  
Gain on sale of discontinued operations
    (253 )     -       -  
Deferred income taxes
    11,012       (19,955 )     10,096  
Amortization of deferred financing costs
    1,926       2,233       3,007  
Impairment of goodwill and intangible assets
    2,751       249,590       -  
Stock-based compensation costs
    2,085       2,439       1,139  
Loss on extinguishment of debt
    2,166       -       -  
Changes in operating assets and liabilities
                       
Accounts receivable
    6,404       8,193       (9,052 )
Inventories
    (3,351 )     2,719       477  
Prepaid expenses and other current assets
    (3,559 )     458       (381 )
Accounts payable
    (3,127 )     (2,265 )     (975 )
Accrued liabilities
    (192 )     (1,176 )     (4,255 )
Net cash provided by operating activities
    59,427       66,679       44,989  
 
                       
Investing Activities
                       
Purchases of equipment
    (673 )     (481 )     (488 )
Proceeds from sale of discontinued operations
    7,993       -       -  
Purchases of intangible assets
    -       -       (33 )
Business acquisition purchase price adjustments
    -       (4,191 )     (16 )
Net cash provided by (used for) investing activities
    7,320       (4,672 )     (537 )
 
                       
Financing Activities
                       
Proceeds from issuance of debt
    296,046       -       -  
Payment of deferred financing costs
    (6,627 )     -       -  
Repayment of long-term debt
    (350,250 )     (32,888 )     (52,125 )
Purchase of common stock for treasury
    -       (16 )     (7 )
Net cash used for financing activities
    (60,831 )     (32,904 )     (52,132 )
 
                       
Increase (decrease) in cash
    5,916       29,103       (7,680 )
Cash - beginning of year
    35,181       6,078       13,758  
 
                       
Cash - end of year
  $ 41,097     $ 35,181     $ 6,078  

-8-

Prestige Brands Holdings, Inc.
Consolidated Statements of Operations
(Unaudited)

 
                               Three Months Ended March 31, 2010

   
Over-the-
Counter
Healthcare
   
Household
Cleaning
   
Personal
Care
   
Consolidated
 
(In thousands)
                       
                         
Net sales
  $ 39,512     $ 26,526     $ 1,753     $ 67,791  
Other revenues
    3,121       446       24       3,591  
                                 
Total revenues
    42,633       26,972       1,777       71,382  
Cost of sales
    16,384       18,354       1,179       35,917  
                                 
Gross profit
    26,249       8,618       598       35,465  
Advertising and promotion
    4,956       1,579       56       6,591  
                                 
Contribution margin
  $ 21,293     $ 7,039     $ 542       28,874  
Other operating expenses
                            10,879  
Impairment of goodwill and intangible assets
                            2,751  
                                 
Operating income
                            15,244  
Other expenses
                            8,738  
Provision for income taxes
                            3,255  
Income from continuing operations
                            3,251  
Income from discontinued operations, net
of income tax
                            36  
                                 
Net Income
                          $ 3,287  

-9-

Prestige Brands Holdings, Inc.
Consolidated Statements of Operations
(Unaudited)

 
                          Three Months Ended March 31, 2009

   
Over-the-
Counter
Healthcare
   
Household
Cleaning
   
Personal
Care
   
Consolidated
 
(In thousands)
                       
                         
Net sales
  $ 39,788     $ 26,451     $ 2,116     $ 68,355  
Other revenues
    4       264       21       289  
                                 
Total revenues
    39,792       26,715       2,137       68,644  
Cost of sales
    15,792       17,344       1,271       34,407  
                                 
Gross profit
    24,000       9,371       866       34,237  
Advertising and promotion
    4,545       1,030       73       5,648  
                                 
Contribution margin
  $ 19,455     $ 8,341     $ 793       28,589  
Other operating expenses
                            8,738  
Impairment of goodwill and intangible assets
                            249,285  
                                 
Operating loss
                            (229,434 )
Other expenses
                            5,923  
Income tax benefit
                            (24,117 )
Loss from continuing operations
                            (211,240 )
Income from discontinued operations, net of income tax
                      143  
                                 
Net loss
                          $ (211,097 )

-10-

Prestige Brands Holdings, Inc.
Consolidated Statements of Operations
(Unaudited)
                         
   
Year Ended March 31, 2010
 
   
Over-the-
Counter
Healthcare
   
Household
Cleaning
   
Personal
Care
   
Consolidated
 
(In thousands)
                       
                         
Net sales
  $ 177,313     $ 108,797     $ 10,812     $ 296,922  
Other revenues
    3,150       1,899       52       5,101  
                                 
Total revenues
    180,463       110,696       10,864       302,023  
Cost of sales
    66,049       72,118       6,420       144,587  
                                 
Gross profit
    114,414       38,578       4,444       157,436  
Advertising and promotion
    24,220       6,659       357       31,236  
                                 
Contribution margin
  $ 90,194     $ 31,919     $ 4,087       126,200  
Other operating expenses
                            44,747  
Impairment of goodwill and intangible assets
                            2,751  
                                 
Operating income
                            78,702  
Other expenses
                            25,591  
Provision for income taxes
                            21,849  
Income from continuing operations
                            31,262  
Income from discontinued operations, net of income tax
                      696  
Gain on sale of assets, net of income tax
                            157  
                                 
Net Income
                          $ 32,115  
                                 

-11-

Prestige Brands Holdings, Inc.
Consolidated Statements of Operations
(Unaudited)

   
Year Ended March 31, 2009
 
   
Over-the-
Counter
Healthcare
   
Household
Cleaning
   
Personal
Care
   
Consolidated
 
(In thousands)
                       
                         
Net sales
  $ 176,878     $ 113,923     $ 10,136     $ 300,937  
Other revenues
    97       2,092       21       2,210  
                                 
Total revenues
    176,975       116,015       10,157       303,147  
Cost of sales
    63,459       74,457       6,280       144,196  
                                 
Gross profit
    113,516       41,558       3,877       158,951  
Advertising and promotion
    29,695       7,625       457       37,777  
                                 
Contribution margin
  $ 83,821     $ 33,933     $ 3,420       121,174  
Other operating expenses
                            41,311  
Impairment of goodwill and intangible assets
                            249,285  
                                 
Operating loss
                            (169,422 )
Other expenses
                            28,436  
Income tax benefit
                            (9,905 )
Loss from continuing operations
                            (187,953 )
Income from discontinued operations, net of income tax
                      1,177  
                                 
Net loss
                          $ (186,776 )

-12-

Prestige Brands Holdings, Inc.
Consolidated Statements of Operations
(Unaudited)

   
Year Ended March 31, 2008
 
   
Over-the-
Counter
Healthcare
   
Household
Cleaning
   
Personal
Care
   
Consolidated
 
(In thousands)
                       
                         
Net sales
  $ 183,641     $ 119,224     $ 10,260     $ 313,125  
Other revenues
    51       1,903       28       1,982  
                                 
Total revenues
    183,692       121,127       10,288       315,107  
Cost of sales
    69,344       75,459       7,008       151,811  
                                 
Gross profit
    114,348       45,668       3,280       163,296  
Advertising and promotion
    26,188       7,483       572       34,243  
                                 
Contribution margin
  $ 88,160     $ 38,185     $ 2,708       129,053  
Other operating expenses
                            40,633  
Impairment of goodwill and intangible assets
                            -  
                                 
Operating income
                            88,420  
Other expenses
                            37,206  
Provision for income taxes
                            19,168  
Income from continuing operations
                            32,046  
Income from discontinued operations, net of income tax
                      1,873  
                                 
Net Income
                          $ 33,919  


-13-

Prestige Brands Holdings, Inc.
Reconciliation of Net Income to Adjusted Net Income
(Unaudited)

   
Three Months Ended March 31
   
Year Ended March 31
 
(In thousands)
 
2010
   
2009
   
2010
   
2009
 
                         
Net income (loss)
  $ 3,287     $ (211,097 )   $ 32,115     $ (186,776 )
                                 
Adjustments:
                               
Loss on extinguishment of debt
    2,656       -       2,656       -  
Impairment of goodwill and intangibles
    2,751       249,590       2,751       249,590  
Increase in deferred tax liability related to
                               
the divestiture of the shampoo brands
    -       -       931       -  
Income tax benefit
    (1,261 )     (29,511 )     (1,261 )     (29,511 )
      4,146       220,079       5,077       220,079  
                                 
Adjusted net income
  $ 7,433     $ 8,982     $ 37,192     $ 33,303  
                                 
Basic earnings per share on adjusted
                               
net income
  $ 0.15     $ 0.18     $ 0.74     $ 0.67  
                                 
Diluted earnings per share on adjusted
                               
net income
  $ 0.15     $ 0.18     $ 0.74     $ 0.67  
                                 
Weighted average shares outstanding:
                               
Basic
    50,030       49,976       50,013       49,935  
Diluted
    50,105       49,976       50,085       49,935  

-14-

Primary IR Contact

Irinquiries@prestigebrands.com
Prestige Consumer Healthcare Inc.
660 White Plains Road – Ste 250
Tarrytown, NY 10591
Telephone: 914-524-6819

Transfer Agent

AST
6201 15th Avenue
Brooklyn, NY 11219
Telephone: (800) 937-5449
help@astfinancial.com
https://www.astfinancial.com

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