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ALLOU H&BA REVENUES UP 6.1% TO $ 19.1 MIL. IN SECOND QUARTER

This article was originally published in The Tan Sheet

Executive Summary

ALLOU H&BA REVENUES UP 6.1% TO $ 19.1 MIL. IN SECOND QUARTER of fiscal 1994 (ended Sept. 30), the distributor reported on Nov. 8. For the first six months of fiscal 1994, H&BA sales were up 2.5% to $ 36.9 mil. H&BAs generated 38% of the company's consolidated sales during both the quarter and first half. The H&BA sector includes sales of both branded H&BAs and the Allou Brand private label H&BAS. Three- and six-month sales of Allou Brands totaled $ 1 mil. and $ 1.9 mil., respectively, and accounted for 2% of sales. Allou's overall revenues in the second quarter increased 28.5% to $ 50.3 mil. while net income increased 55.6% to $ 1.1 mil. For the first half, revenues increased 24.2% to $ 97.3 mil. while net income jumped 40.8% to $ 1.8 mil. Sales of Allou's branded fragrances and cosmetics increased 17.9% to $ 17.1 mil. in the second quarter. During the first half, sales of fragrances and cosmetics increased 10.7% to $ 32.1 mil. The sector represents approximately 33% of the company's revenues. The firm's remaining two product sectors, prescription drugs and non-perishable foods, had second-quarter sales of $ 4.1 mil. and $ 10 mil., respectively. The categories accounted for 9% and 20% of consolidated sales. Allou began distributing branded prescription drugs following the acquisition of Hauppauge, N.Y.- based M. Sobol in the spring. Allou Chief Financial Officer David Shamilzadeh attributed the overall gains to the company's "expanding product and customer base," "an increase in consumer demand," and a management team that is "committed to its focused expansion both internally and through selective acquisitions. " Allou is expanding its Brentwood, N.Y. headquarters by 30,000 square feet and hopes to occupy the new space by April 1994. Chart omitted.
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