Prestige Brands Q2 Earnings Beat Estimates; Reiterates Annual Outlook

(RTTNews) - Prestige Brands Holdings, Inc. (PBH), a seller of OTC healthcare products, Thursday reported second-quarter earnings which declined, as increases in operating expenses and tax provision eclipsed an 8.6 percent growth in revenue. Earnings, however, surpassed analysts' estimates.

Net earnings were $16.46 million or $0.31 per share, down from $32.79 million or $0.63 per share a year earlier.

Earnings, excluding certain items, of $0.50 per share bested the $0.45 average estimate of five analysts polled by Thomson-Reuters. Analysts' estimates typically exclude one-time items.

Revenues rose to $181.27 million, from $166.94 million a year earlier. Analysts expected revenues of $170.68 million.

The company confirmed its outlook for annual adjusted earnings of $1.75 to $1.85 per share on revenue growth of 15 to 18 percent.

Analysts expect annual earnings of $1.81 per share on revenues of $707.23 million.