Energizer Holdings Inc. (St. Louis, MO) announced results of its second quarter ended March 31, 2005. Net earnings for the quarter were $57.6 million, or $0.78 per diluted share, versus net earnings of $53.4 million, or $0.63 per diluted share, in the second fiscal quarter of 2004. Included in the current quarter results is $7.6 million, or $0.10 per diluted share, of reductions to the prior year tax accruals and previously unrecognized tax benefits from foreign losses. Last year's second quarter included similar tax loss benefits of $9.5 million, or $0.11 per share.
For the quarter, sales increased $36.1 million, or 6%, to $629.0 million and segment profit increased $18.3 million, or 20%, to $108.6 million due to improvements in both battery segments. Favorable currency translation accounted for $16.1 million of the sales increase and $5.9 million of the segment profit increase. On a constant currency basis, sales and segment profit increased 3% and 14%, respectively. General corporate and other expenses were essentially flat, and interest and other financing items increased $7.8 million.
For the six months ended March 31, 2005, net earnings were $179.3 million, or $2.41 per diluted share, compared to net earnings of $168.4 million, or $1.97 per diluted share, in the same period last year. The current year's six-month results includes the aforementioned tax adjustments of $7.6 million, or $0.10 per share. Last year's six-month results included previously unrecognized tax benefits of $16.2 million, or $0.19 per share.
For the six months ended March 31, 2005, sales increased $100.3 million, or 7%, and segment profit increased $43.6 million, or 16%, due to improvements in all three business segments. Favorable currency translation accounted for $40.0 million of the sales increase and $16.2 million of the segment profit increase. On a constant currency basis, sales and segment profit increased 4% and 10%, respectively. General corporate and other expenses increased $9.5 million, and interest and other financing items increased $10.4 million.
