This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Sally Beauty Announces Preliminary Results For The Fiscal Quarter Ended June 30, 2012

Non-GAAP Financial Measures Reconciliations:


Non-GAAP Financial Measures Reconciliations
(In thousands, except per share data)
Three Months Ended
June 30,
      2012   2011   % CHG
Adjusted EBITDA:    
Net earnings (per GAAP) $ 69,487 $ 69,143 0.5 %
Depreciation and amortization 16,299 15,273 6.7 %
Share-based compensation 2,825 2,462 14.7 %
Interest expense (1) 26,925 27,741 -2.9 %
Litigation settlement (2) - (27,000 )
Other non-recurring items (2) - 5,749
Provision for income taxes     40,135       39,367     2.0 %
Adjusted EBITDA (Non-GAAP)   $ 155,671     $ 132,735     17.3 %
Net earnings (per GAAP) $ 69,487 $ 69,143
Add (Less):
Loss on extinguishment of debt (1) 3,231 -
Litigation settlement and other non-recurring items, net (2) - (21,251 )
Tax provision for the adjustments to net earnings (3)     (1,163 )     7,863      
Adjusted net earnings, excluding non-recurring items (Non-GAAP)   $ 71,555     $ 55,755     28.3 %
Adjusted net earnings per share (Non-GAAP):
Basic $ 0.39 $ 0.30 30.0 %
Diluted $ 0.38 $ 0.30 26.7 %
Weighted average shares:
Basic 182,756 183,164
Diluted 188,496 188,592
(1)     For the three months ended June 30, 2012, interest expense includes $3.2 million in unamortized deferred financing costs expensed in connection with the Company's May 2012 repayment in full of its senior term loan B.
(2) Results for the three months ended June 30, 2011, reflect a $27.0 million benefit of a litigation settlement and non-recurring charges of $5.7 million. The net favorable impact of these items is $21.3 million.
(3) The tax provisions for the adjustments to net earnings were calculated using an estimated effective tax rate of 36.0% and 37.0% for the periods ended June 30, 2012 and 2011, respectively.

About Sally Beauty Holdings, Inc.

Sally Beauty Holdings, Inc. (NYSE: SBH) (the "Company") is an international specialty retailer and distributor of professional beauty supplies with annual revenues of $3.3 billion. The Company operates primarily through two business units, Sally Beauty Supply and Beauty Systems Group (BSG), and is the largest distributor of professional beauty supplies in the U.S. based on store count. The Sally Beauty Supply and Beauty Systems Group businesses sell and distribute through over 4,300 stores, including 185 franchised units, throughout the United States and Puerto Rico, the United Kingdom, Belgium, Canada, Chile, Mexico, France, Ireland, Spain, Germany and the Netherlands.

4 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community


Chart of I:DJI
DOW 17,689.86 -56.12 -0.32%
S&P 500 2,103.84 -4.79 -0.23%
NASDAQ 5,128.2810 -0.5040 -0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs