Alberto Culver 2nd-quarter Profit Meets Street

MELROSE PARK, Ill. (AP) — Alberto-Culver Co., whose products include Alberto VO5 shampoo and Noxzema skin cream, said Monday that its profit dipped 3 percent in the second quarter as the stronger dollar pushed sales lower. The results still managed to meet analysts' estimates.

The maker of hair care and other consumer products earned $28.1 million, or 28 cents per share, to meet Wall Street's expectations. That compares with a profit of $29 million, or 28 cents per share, a year ago.

Sales for the period ended March 31 fell 1.4 percent to $344.3 million. Excluding the effect of the stronger dollar and the acquisition of Noxzema, organic sales rose 6.3 percent.

Analysts survyed by Thomson Reuters had expected revenue of $357.1 million.

Cincinnati-based Procter & Gamble Co. agreed in September to sell the rights and trademarks to its Noxzema skin care brand to Melrose Park, Ill.-based Alberto-Culver.

Shares of Alberto-Culver dropped $1.37, or nearly 6 percent, to $21.50 in morning trading.