Sally Beauty Holdings, Inc. (NYSE: SBH) (the “Company”) today announced strong financial results for the fourth quarter and fiscal year ended September 30, 2012. The Company will hold a conference call today at 10:00 a.m. (Central) to discuss these results and its business.
“Sally Beauty Holdings had another very strong year, delivering record results in both our businesses,” stated Gary Winterhalter, Chairman, President and Chief Executive Officer. “For the fiscal year, consolidated sales grew 8% to reach over $3.5 billion with same store sales growth of 6.4% and gross margin expansion of 70 basis points. Adjusted EBITDA grew 18% to reach $591 million with cash flow from operations of $298 million. During the year, we refinanced all of our long-term debt and repurchased $200 million of our stock. We are very pleased with our 2012 performance and are quite optimistic that fiscal year 2013 is off to a good start.”
Fiscal 2012 Fourth Quarter and Full Year 2012 Financial Highlights
For the fiscal 2012 fourth quarter, consolidated net sales were $882.6 million, an increase of 5.4% from the fiscal 2011 fourth quarter. The fiscal 2012 fourth quarter sales increase is attributed to same stores sales growth, the addition of new stores and acquisitions. The unfavorable impact from changes in foreign currency exchange rates in the fiscal 2012 fourth quarter was $8.2 million or 1.0% of sales on a consolidated basis. Consolidated same store sales growth in the fiscal 2012 fourth quarter was 4.3% compared to 5.6% in the fiscal 2011 fourth quarter.
Consolidated net sales for fiscal year 2012 were $3.5 billion, an increase of 7.8% from fiscal year 2011, and include an unfavorable impact from foreign currency exchange of $26.3 million, or 0.7% of sales. Fiscal 2012 sales increased primarily due to same stores sales growth, the addition of new stores and acquisitions. Consolidated same store sales growth in fiscal year 2012 was 6.4% compared to 6.1% in fiscal year 2011.