(MENAFN) Energizer Holdings Inc. stated that its net income declined by 10 percent in the first quarter to USD129.8 million, from USD143.8 million in the same period a year before, reported AP.
The company said that revenue in the three months ended December 31 fell by less than 1 percent, reaching USD1.19 billion, compared with around USD2 billion.
Meanwhile, personal care revenue, which includes Energizers Schick Hydro razors, dipped 2 percent to USD554.3 million, while household products, which comprise batteries, edged up by almost 1 percent to USD638.2 million.
The company noted that Superstorm Sandy is estimated to have boosted sales by USD18 million, as people stocked up on batteries.
It is worth noting that Energizer, in addition to other disposable battery manufacturers, are facing a drop in demand with more reusable, cost-effective products on the market, with the firm's global battery category posting a decline of 2 percent in volume during the quarter, excluding the impact of Sandy.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.