Alberto Culver Co. reported a better-than-expected quarterly profit, boosted by strong sales in Latin America and Canada.
Net income at the maker of Alberto V05 and TRESemme shampoos rose to $41.3 million, or 41 cents a share, in the fourth quarter ended Sept. 30, up from $31.7 million, or 32 cents a share, a year earlier.
Excluding items, it earned 42 cents a share, beating the analysts’ average estimate of 39 cents a share, according to Thomson Reuters I/B/E/S.
The company, which competes with larger rivals Procter & Gamble Co. and L’Oreal SA, said its net sales rose 12.1 percent to $431.9 million, while analysts had expected $429.5 million.
