Energizer Reports Fourth-Quarter and Fiscal 2005 Results
Energizer Holdings Inc. (St. Louis, MO) announced results for its fourth quarter ended September 30, 2005. Net earnings for the quarter were $53.3 million, or $0.74 per diluted share, versus net earnings of $60.3 million, or $0.77 per diluted share, in the fourth fiscal quarter of 2004. The current quarter includes $4.3 million, or $0.06 per diluted share, of previously unrecognized tax benefits related to prior years' foreign losses and reductions to prior year tax accruals. The prior-year quarter includes an after-tax expense of $9.6 million, or $0.12 per diluted share, related to special pension benefits, nearly offset by adjustments to prior year tax accruals of $8.5 million, or $0.11 per diluted share.
For the quarter, sales increased $37.5 million, or five percent, to $793.7 million due to higher sales in the International Battery segment, partially offset by sales declines in the North America Battery segment. Segment profit decreased $4.2 million, or three percent, to $120.6 million as declines in the North America Battery segment were partially offset by an improvement in the Razors and Blades segment. Sales and segment profit benefited from favorable currency of $8.4 million and $5.6 million, respectively. On a constant currency basis, sales increased four percent, and segment profit decreased eight percent. General corporate and other expenses increased $1.4 million, and interest and other financing items increased $9.2 million.
For the year ended September 30, 2005, net earnings were $286.4 million, or $3.90 per diluted share, compared to net earnings of $267.4 million, or $3.21 per diluted share, in the same period last year. For the year ended September 30, 2005, sales increased $177.1 million, or six percent, and segment profit increased $59.0 million, or 12 percent, due to improvement in the International Battery segment. On a constant currency basis, sales and segment profit increased four percent and six percent, respectively. General corporate and other expenses increased $17.7 million, and interest and other financing items increased $17.3 million.