India, Feb. 13 -- Sally Beauty Holdings, Inc. (SBH), a distributor and retailer of beauty products, Thursday reported higher profit for the first quarter, primarily helped by growth in revenue as well as lower expenses.
Selling, general and administrative expenses declined to $376.52 million from $398.14 million last year. In addition a restructuring charge of $85 million recorded last year was absent in the current year.
Net earnings for the quarter increased to $61.01 million or $0.58 per share from $38.39 million or $0.35 per share in the same quarter a year ago.
Excluding one-time items, the company posted earnings of $44.85 million or $0.43 per share, in line with the consensus estimate.
Operating earnings rose to $100.32 million f...