NEW YORK—Shares of Sally Beauty Holdings Inc. rose on Thursday, after the beauty-supply retailer and distributor reported adjusted fiscal second-quarter results above expectations.
Profit for the quarter ended March 31 rose 12 percent to $12.4 million, or 7 cents per share, from $11.4 million, or 6 cents per share last year. Excluding a one-time charge related to mark-to-market changes in the fair value of the company's interest rate swaps, net income was 10 cents per share.
Analysts, on average, expected earnings of 7 cents per share, according to a survey by Thomson Financial.
Revenue rose 6 percent to $643.3 million from $609.3 million last year. Analysts expected revenue of $642 million.
Same-store sales, or sales in stores open at least one year, rose 2.8 percent.
The Denton, Texas-based company also said it purchased Pro-Duo NV, a beauty-supply chain with stores in Belgium, France and Spain, for 19.3 million Euros ($29.8 million) to expand its international presence.
Shares rose 88 cents, or 15.3 percent, to $6.64. The stock has traded between $5.64 and $10.84 during the past 52 weeks.
