Sally Beauty (SBH) Posts Q1 EPS of $0.14, In-Line with Estimates; Comps Up 3.7%

Sally Beauty Company (NYSE: SBH) reports Q1 EPS of $0.14, even with the analyst estimate of $0.14. Revenue for the quarter was $704.9 million, which compares to the estimate of $691.88 million.

Fiscal 2010 First Quarter Results for Sally Beauty Supply

• Same store sales growth of 3.7%;
  
  
• Sales of $438.3 million, up 6.8% from $410.5 million in fiscal 2009 first quarter. Significant components of growth include: same store sales growth of 3.7%; sales growth from net new store openings of 1.6%; and favorable impact from foreign currency exchange of 1.3%;
  
  
• Gross margin of 52.5%, a 60 basis point improvement from 51.9% in the fiscal 2009 first quarter.;
  
  
• Segment earnings of $71.1 million, up 8.9% from $65.3 million in the fiscal 2009 first quarter;
  
  
• Segment operating margins increased 30 basis points to 16.2% of sales from 15.9% in the fiscal 2009 first quarter.

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