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Helen of Troy Ltd.$128.50$2.952.35%

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 Helen of Troy Limited Reports Fourth Quarter Fiscal 2017 Results
   Thursday, April 27, 2017 4:01:03 PM ET

--Fiscal 2018 Outlook of GAAP Diluted EPS of $5.38 to $5.71; Non-GAAP Adjusted Diluted EPS of $6.50 to $6.90

--Fiscal 2018 Outlook of Consolidated Net Sales of $1.56 to $1.60 billion; Growth of 1.5% to 4.1%

Helen of Troy Limited (NASDAQ, NM: HELE), designer, developer and worldwide marketer of consumer brand-name housewares, health and home, nutritional supplement and beauty products, today reported results for the three-month period ended February 28, 2017.

Executive Summary

-- Consolidated net sales revenue decrease of 2.3% driven by a core business decline of 8.3%, a decrease of 1.2% from Venezuela re-measurement, and a decline of 0.5% from foreign currency fluctuations, partially offset by growth from Hydro Flask of 7.6%



-- Consolidated gross profit margin expansion of 2.0 percentage points; 0.6 percentage points from the core business

-- Reported operating income of $40.6 million, or 10.8% of net sales, compared to $16.0 million, or 4.1% of net sales in the same period last year

-- Non-GAAP adjusted operating margin decreased 2.1 percentage points to 14.9%, which includes an unfavorable impact of 0.4 percentage points from Venezuela re-measurement

-- Cash flow from operations was $89.4 million

-- Reported diluted EPS of $1.30 compared to $0.34 in the same period last year

-- Non-GAAP adjusted diluted EPS of $1.78 compared to $2.03 in the same period last year

-- Fiscal 2018 net sales revenue guidance in a range of $1.56 to $1.60 billion and adjusted diluted EPS in a range of $6.50 to 6.90

Julien R. Mininberg, Chief Executive Officer, stated: "Overall we made considerable progress in fiscal 2017. For the year, we achieved 43% growth in GAAP diluted EPS to $5.04 and 7.7% growth in non-GAAP adjusted diluted EPS to $6.73, which exceeded our most recent, upwardly revised, outlook. We also expanded our GAAP operating margin by 2.2 percentage points and our non-GAAP adjusted operating margin by 0.4 percentage points, which includes a negative impact of 0.4 percentage points from Venezuela re-measurement. We demonstrated the benefits of our diversified portfolio and key transformational strategies to deliver earnings growth and 22% growth in cash flow from operations despite external headwinds. Looking specifically at the fourth quarter, earnings were above expectations, as we delivered adjusted diluted EPS of $1.78, while making important investments in PUR, OXO and Hydro Flask and facing continued headwinds from a sluggish brick and mortar retail environment and unfavorable currency."

Mr. Mininberg continued: "As we focus on reaccelerating sales growth in fiscal 2018, we plan to strategically invest an incremental $28 million, primarily behind our leadership brands that make up the majority of our revenue and an even higher proportion of our operating profit. We are also increasing our attention on e-commerce, which grew over 30% in fiscal 2017, and digital marketing which also made considerable progress during the year. We believe these efforts will position us to achieve core business sales growth in fiscal 2018 in line with our 2-3% long-term sales growth outlook."

 
                                                                                                                                                                                                      Three Months Ended February 28, 2017
                                                          ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
(in thousands)                                    Housewares                        Health &                        Nutritional                       Beauty                            Total             
                                                                                                                                                                  Home                                                                Supplements
------------------------------------ -------------------- -------------------- ---------------------------  -------------------- -------------------- ---------------------------  -------------------- -------------------- --------------------------  -------------------- -------------------- ---------------------------  -------------------- -------------------- ---------------------------  --------------------
Fiscal 2016 sales revenue, net                                               $  78,813                                                              $ 170,021                                                              $ 38,146                                                              $  98,744                                                              $ 385,724
  Core business                                                                 (4,727 )                                                               (7,316 )                                                              (8,818 )                                                              (11,096 )                                                              (31,957 )
  Impact of foreign currency                                                      (488 )                                                                 (586 )                                                                   -                                                                   (723 )                                                               (1,797 )
  Venezuela re-measurement                                                           -                                                                      -                                                                     -                                                                 (4,501 )                                                               (4,501 )
  Acquisitions                                               29,228                                -                               -                                -                           29,228  
                                                          -------------------- ------- --------------------                      -------------------- ------- --------------------                      -------------------- ------ --------------------                      -------------------- ------- --------------------                      -------------------- ------- --------------------
Change in sales revenue, net                                 24,013                           (7,902 )                                           (8,818 )                                           (16,320 )                                            (9,027 )
                                                          -------------------- ------- --------------------                      -------------------- ------- --------------------                      -------------------- ------ --------------------                      -------------------- ------- --------------------                      -------------------- ------- --------------------
Fiscal 2017 sales revenue, net                                               $ 102,826                                           $ 162,119                                           $ 29,328                                           $  82,424                                           $ 376,697  
                                                          ==================== ======= ====================                      ==================== ======= ====================                      ==================== ====== ====================                      ==================== ======= ====================                      ==================== ======= ====================
                                                                                                                                                                                                                                                                                                                                                                                                        
Total net sales revenue growth                                                    30.5                      %                                            (4.6 )                    %                                          (23.1 )                    %                                           (16.5 )                    %                                            (2.3 )                    %
  Core business                                                                   (6.0 )                    %                                            (4.3 )                    %                                          (23.1 )                    %                                           (11.2 )                    %                                            (8.3 )                    %
  Impact of foreign currency                                                      (0.6 )                    %                                            (0.3 )                    %                                            0.0                      %                                            (0.7 )                    %                                            (0.5 )                    %
  Venezuela re-measurement                                                         0.0                      %                                             0.0                      %                                            0.0                      %                                            (4.6 )                    %                                            (1.2 )                    %
  Acquisitions                                                                    37.1                      %                                             0.0                      %                                            0.0                      %                                             0.0                      %                                             7.6                      %
                                                                                                                                                                                                                                                                                                                                                                                                        
                                                                                                                                                                                                                                                                                                                                                                                                        
Operating Margin (GAAP)
  Fiscal 2017                                                                     20.1                      %                                             8.1                      %                                           (4.6 )                    %                                             9.9                      %                                            10.8                      %
  Fiscal 2016                                                                     18.8                      %                                             4.0                      %                                            7.4                      %                                            (8.5 )                    %                                             4.1                      %
Adjusted Operating Margin (non-GAAP)
  Fiscal 2017                                                                     21.5                      %                                            10.7                      %                                           18.2                      %                                            13.7                      %                                            14.9                      %
  Fiscal 2016                                                                     20.6                      %                                            17.0                      %                                           12.4                      %                                            15.9                      %                                            17.0                      %
                                                                                                                                                                                                                                                                                                                                                                                                        

Consolidated Operating Results - Fourth Quarter Fiscal 2017 Compared to Fourth Quarter Fiscal 2016

-- Consolidated net sales revenue decreased 2.3% to $376.7 million compared to $385.7 million, reflecting a decrease in core business net sales revenue of 8.3%, a decline of from Venezuela re-measurement of 1.2%, and a decrease from foreign currency fluctuations of 0.5%, partially offset by growth from acquisitions of 7.6%. The core business decline includes a decrease of approximately 1.2% from the rationalization of certain lower margin business, a decline in the Nutritional Supplements segment of 23.1%, a weak cough/cold/flu season and the impact of lower store traffic and soft spending at traditional brick and mortar retail, along with inventory rationalization by several key retailers, partially offset by the shift in consumer preference to purchasing online.

-- Gross profit margin increased 2.0 percentage points to 44.0% compared to 42.0%. The improvement in consolidated gross profit margin is primarily due to: (i) product rationalization efforts; (ii) margin accretion from Hydro Flask; and (iii) the impact of a non-cash Venezuela inventory impairment charge of $9.1 million recorded in the fourth quarter of fiscal 2016, which reduced the comparative period consolidated gross profit margin by 2.4 percentage points. These factors were partially offset by the unfavorable impact of foreign currency fluctuations and higher promotional discounting in the fourth quarter of fiscal 2017.

-- SG&A was 31.9% of net sales compared to 37.1%. The improvement is primarily due to distribution and logistics efficiency and lower outbound freight costs, and the impact of patent litigation and Venezuela re-measurement related charges recorded in the fourth quarter of fiscal 2016, which increased the comparative period SG&A ratio by 4.6 and 2.5 percentage points, respectively. These factors were partially offset by: (i) higher compensation costs due to hourly wage increases and higher incentive compensation expense; (ii) higher marketing, advertising and new product development expense; and (iii) the impact that lower net sales had on operating leverage in the Company’s core business.

-- Operating income was $40.6 million, or 10.8% of net sales, compared to $16.0 million, or 4.1% of net sales.

-- Income tax expense as a percentage of pretax income was 3.5% compared to 26.9%. The year-over-year decrease in the Company’s effective tax rate was primarily due to favorable shifts in the mix of taxable income in the Company’s various tax jurisdictions, tax benefits provided by asset impairment charges, benefits from the finalization of certain tax returns, and resolution of uncertain tax positions. In addition, the prior year period tax rate was negatively impacted by the unfavorable effect of Venezuela currency re-measurement related charges, with no related tax benefit, and the unfavorable effect of the patent litigation charge, with a minimal related tax benefit.

-- Net income was $35.7 million, or $1.30 per diluted share on 27.6 million weighted average diluted shares outstanding, compared to $9.6 million, or $0.34 per diluted share on 28.3 million weighted average diluted shares outstanding.

-- Adjusted EBITDA (EBITDA excluding non-cash asset impairment charges, non-cash share based compensation, acquisition-related expenses, Venezuela re-measurement related charges, and patent litigation charges, as applicable) was $60.5 million compared to $69.4 million.

On an adjusted basis for the fourth quarters of fiscal 2017 and 2016, excluding non-cash asset impairment charges, non-cash share based compensation, non-cash amortization of intangible assets, acquisition-related expenses, Venezuela re-measurement related charges, and patent litigation charges, as applicable:

-- Adjusted operating income was $56.1 million, or 14.9% of net sales, compared to $65.5 million, or 17.0% of net sales, primarily reflecting the negative impacts from Venezuela re-measurement and foreign currency fluctuations, higher personnel expense due to higher incentive compensation costs and hourly wage increases, and higher advertising and new product development expense, partially offset by the accretive impact of Hydro Flask and distribution and freight efficiency in the core business.

-- Adjusted income was $49.0 million, or $1.78 per diluted share, compared to $57.5 million, or $2.03 per diluted share, primarily reflecting lower adjusted operating income and higher interest expense, partially offset by lower tax expense and lower diluted shares outstanding. Fiscal 2017 includes a negative impact from Venezuela re-measurement of $2.3 million, or $0.08 per diluted share.

Segment Operating Results - Fourth Quarter Fiscal 2017 Compared to Fourth Quarter Fiscal 2016

Housewares net sales increased by 30.5% driven by a 37.1% contribution from Hydro Flask, partially offset by an 6.0% decrease in core business net sales revenue. The core business decline reflects lower retail store traffic at brick and mortar and lower order replenishment from key customers, partially offset by solid product sell through at key traditional and online retail customers. The segment was also impacted by the negative impact of approximately 0.6% from foreign currency fluctuations. GAAP operating margin was 20.1% compared to 18.8%. Adjusted operating margin improved 0.9 percentage points primarily due to the accretive impact of the Hydro Flask acquisition.

Health & Home core business net sales declined 4.3% reflecting the Company’s de-emphasis of low-margin hot/cold therapy business, the impact of a second consecutive weak cough/cold/flu season on replenishment orders, and the comparative impact of strong PUR water filtration sales in fiscal 2016 due to heightened consumer concerns over public water quality. These declines were partially offset by growth in the seasonal heater and humidification categories. GAAP operating margin was 8.1% compared to 4.0%. Adjusted operating margin declined 6.3 percentage points due to an unfavorable product sales mix, lower royalty income, higher promotional and in-store advertising expense, higher marketing and media advertising expense, higher new product development costs, and higher legal expense, partially offset by distribution and freight efficiency.

Beauty core business net sales decreased 11.2% primarily due to rationalization of lower margin and commoditized business, a soft brick and mortar retail environment, retail inventory rationalization, competitive factors in the personal care category and an overall decline in point of sale activity for the broader retail beauty appliances category. GAAP operating margin was 9.9% compared to (8.5%). Adjusted operating margin declined 2.2 percentage points reflecting a 1.9 percentage point decline from Venezuela re-measurement, unfavorable foreign currency, higher promotional spending, higher advertising expense and lower operating leverage from the decline in sales, partially offset by the benefits of business rationalization, freight efficiency and lower compensation costs.

Nutritional Supplements core business net sales decreased 23.1%, primarily reflecting lower response rates in the offline channel, lower average order values, an increase in discounts to promote buyer file growth, and a decline in the offline and legacy newsletter subscription business, as the Company continues to implement a strategic transition from offline to online channels. GAAP operating margin was (4.6%) compared to 7.4%. Adjusted operating margin increased by 5.8 percentage points due primarily to lower marketing and promotional investment in the quarter, partially offset by the impact of the net sales decline on operating leverage and incremental online channel development costs.

Balance Sheet Highlights - Fiscal 2017 Year End Compared to Fiscal 2016 Year End

-- Cash and cash equivalents totaled $23.1 million, compared to $225.8 million at the end of fiscal 2016, reflecting $200 million drawn in February 2016 to fund the acquisition of Hydro Flask in March 2016.

-- Total short- and long-term debt decreased to $485.6 million, compared to $619.9 million, a net decrease of $134.3 million. The decrease reflects net debt repayments of $133.2 million, which include $75.0 million drawn for share repurchases in the third quarter of fiscal 2017.

-- Accounts receivable turnover was 55.3 days, compared to 52.4 days.

-- Inventory was $289.1 million, compared to $301.6 million. Inventory turnover was 2.8 times, compared to 2.9 times.

Fiscal 2018 Annual Outlook

For fiscal 2018, the Company expects consolidated net sales revenue in the range of $1.56 to $1.60 billion, which implies consolidated sales growth of 1.5% to 4.1%. The Company’s net sales outlook assumes that mid-April 2017 foreign currency exchange rates will remain constant for the fiscal year, which is expected to negatively impact year-over-year net sales revenue by approximately $8.0 million, or 0.5 percentage points, and that the severity of the cough/cold/flu season will be in line with long-term historical averages. Finally, the Company’s net sales outlook reflects the following expectations by segment:

-- Housewares net sales growth of 11% to 13%;

-- Health & Home net sales growth in the mid-single digits;

-- Beauty net sales decline in the mid-single digits; and

-- Nutritional Supplements net sales in line with fiscal 2017.

The Company expects consolidated GAAP diluted EPS of $5.38 to $5.71 and adjusted diluted EPS (non-GAAP) in the range of $6.50 to $6.90, which excludes share-based compensation expense and intangible asset amortization expense. The Company’s diluted EPS outlook assumes that mid-April 2017 foreign currency exchange rates will remain constant for the fiscal year, which is expected to negatively impact the year-over-year comparison by approximately $0.15 per diluted share.

Consistent with the Company’s strategies of investing in core business growth and consumer centric innovation, its outlook includes approximately $0.90 per share year-over-year in incremental investments expanding digital marketing, advertising, new product development and e-commerce, primarily behind the Company’s leadership brands. The diluted EPS outlook is based on an estimated weighted average diluted shares outstanding of 27.4 million and an expected effective tax rate of 10% to 12% for the full fiscal year 2018. The likelihood and potential impact of any fiscal 2018 M&A activity, future asset impairment charges, future foreign currency fluctuations, or further share repurchases are unknown and cannot be reasonably estimated; therefore, they are not included in the Company’s sales and earnings outlook.

Conference Call and Webcast

The Company will conduct a teleconference in conjunction with today’s earnings release. The teleconference begins at 4:45 pm Eastern Time today, Thursday, April 27, 2017. Investors and analysts interested in participating in the call are invited to dial (877) 440-5807 approximately ten minutes prior to the start of the call. The conference call will also be webcast live at: www.hotus.com. A telephone replay of this call will be available at 7:45 p.m. Eastern Time on April 27, 2017 until 11:59 p.m. Eastern Time on May 4, 2017 and can be accessed by dialing (844) 512-2921 and entering replay pin number 3047773. A replay of the webcast will remain available on the website for 60 days.

Non-GAAP Financial Measures:

The Company reports and discusses its operating results using financial measures consistent with accounting principles generally accepted in the United States of America ("GAAP"). To supplement its presentation, the Company discloses certain financial measures that may be considered non-GAAP financial measures, such as adjusted operating income, adjusted operating margin, adjusted income, adjusted diluted EPS, EBITDA and adjusted EBITDA, which are presented in accompanying tables to this press release along with a reconciliation of these financial measures to their corresponding GAAP-based measures presented in the Company’s consolidated statements of income.

About Helen of Troy Limited:

Helen of Troy Limited (NASDAQ, NM: HELE) is a leading global consumer products company offering creative solutions for its customers through a strong portfolio of well-recognized and widely-trusted brands, including OXO(R), OXO Tot(R), Hydro Flask(R), Vicks(R), Braun(R), Honeywell(R), PUR(R), Febreze(R); Revlon(R), Pro Beauty Tools(R), Sure(R), Pert(R), Infusium23(R), Brut(R), Ammens(R), Hot Tools(R), Bed Head(R), Dr. Sinatra(R), Dr. David Williams(R), and Dr. Whitaker(R). All trademarks herein belong to Helen of Troy Limited (or its affiliates) and/or are used under license from their respective licensors.

For more information about Helen of Troy, please visit www.hotus.com.

Forward Looking Statements:

Certain written and oral statements made by our Company and subsidiaries of our Company may constitute "forward-looking statements" as defined under the Private Securities Litigation Reform Act of 1995. This includes statements made in this press release. Generally, the words "anticipates", "believes", "expects", "plans", "may", "will", "should", "seeks", "estimates", "project", "predict", "potential", "continue", "intends", and other similar words identify forward-looking statements. All statements that address operating results, events or developments that we expect or anticipate will occur in the future, including statements related to sales, earnings per share results, and statements expressing general expectations about future operating results, are forward-looking statements and are based upon our current expectations and various assumptions. We believe there is a reasonable basis for our expectations and assumptions, but there can be no assurance that we will realize our expectations or that our assumptions will prove correct. Forward-looking statements are subject to risks that could cause them to differ materially from actual results. Accordingly, we caution readers not to place undue reliance on forward-looking statements. The forward-looking statements contained in this press release should be read in conjunction with, and are subject to and qualified by, the risks described in the Company’s Form 10-K for the year ended February 28, 2017 and in our other filings with the SEC. Investors are urged to refer to the risk factors referred to above for a description of these risks. Such risks include, among others, our ability to deliver products to our customers in a timely manner and according to their fulfillment standards, the costs of complying with the business demands and requirements of large sophisticated customers, our relationships with key customers and licensors, our dependence on the strength of retail economies and vulnerabilities to any prolonged economic downturn, our dependence on sales to several large customers and the risks associated with any loss or substantial decline in sales to top customers, expectations regarding our recent and future acquisitions or divestitures, including our ability to realize anticipated cost savings, synergies and other benefits along with our ability to effectively integrate acquired businesses or separate divested businesses, circumstances which may contribute to future impairment of goodwill, intangible or other long-lived assets, the retention and recruitment of key personnel, foreign currency exchange rate fluctuations, disruptions in U.S., U.K., Euro zone, and other international credit markets, risks associated with weather conditions, the duration and severity of the cold and flu season and other related factors, our dependence on foreign sources of supply and foreign manufacturing, and associated operational risks including, but not limited to, long lead times, consistent local labor availability and capacity, and timely availability of sufficient shipping carrier capacity, risks to the Nutritional Supplements segment associated with the availability, purity and integrity of materials used in the manufacture of vitamins, minerals and supplements, the impact of changing costs of raw materials, labor and energy on cost of goods sold and certain operating expenses, the geographic concentration and peak season capacity of certain U.S. distribution facilities increases our exposure to significant shipping disruptions and added shipping and storage costs, our projections of product demand, sales and net income are highly subjective in nature and future sales and net income could vary in a material amount from such projections, the risks associated with the use of trademarks licensed from and to third parties, our ability to develop and introduce a continuing stream of new products to meet changing consumer preferences, increased product liability and reputational risks associated with the formulation and distribution of vitamins, minerals and supplements, the risks associated with potential adverse publicity and negative public perception regarding the use of vitamins, minerals and supplements, trade barriers, exchange controls, expropriations, and other risks associated with U.S. and foreign operations, the risks to our liquidity as a result of changes to capital market conditions and other constraints or events that impose constraints on our cash resources and ability to operate our business, the costs, complexity and challenges of upgrading and managing our global information systems, the risks associated with information security breaches, the increased complexity of compliance with new government regulations covering vitamins, minerals and supplements, the risks associated with product recalls, product liability, other claims, and related litigation against us, the risks associated with accounting for tax positions, tax audits and related disputes with taxing authorities, the risks of potential changes in laws in the U.S. or abroad, including tax laws, regulations or treaties, employment and health insurance laws and regulations, and laws relating to environmental policy, financial regulation, transportation policy and infrastructure policy along with the costs and complexities of compliance with such laws, and our ability to continue to avoid classification as a controlled foreign corporation. We undertake no obligation to publicly update or revise any forward-looking statements as a result of new information, future events or otherwise.

 
                                                                                                                                                               HELEN OF TROY LIMITED AND SUBSIDIARIES
                                                                                                                                                             Consolidated Condensed Statements of Income
                                                                                                                                                                             (Unaudited)
                                                                                                                                                                (in thousands, except per share data)
 
                                                                                                                                                                                        Three Months Ended the Last Day of February
                                                                                           ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                            2017                                                                                                                2016
                                                                                           -------------------------------------------------------------------------------------------------------                                          -------------------------------------------------------------------------------------------------------------------------
Sales revenue, net                                                                                            $   376,697                        100.0                      %                                                               $   385,724                        100.0                      %
Cost of goods sold                                                                             210,839                         56.0   %                                                223,567                         58.0   %
                                                                                           -------------------- --------- --------------------                      ----- --------------------                                              -------------------- --------- --------------------                      ----- --------------------
 Gross profit                                                                                                     165,858                                            44.0                      %                                                                   162,157                                            42.0                      %
                                                                                                                                                                                                                                                                                                                                                 
Selling, general, and administrative expense ("SG&A")                                                             120,230                                            31.9                      %                                                                   143,150                                            37.1                      %
Asset impairment charges                                                                         5,000                          1.3   %                                                  3,000                          0.8   %
                                                                                           -------------------- --------- --------------------                      ----- --------------------                                              -------------------- --------- --------------------                      ----- --------------------
 Operating income                                                                               40,628                         10.8   %                                                 16,007                          4.1   %
                                                                                           -------------------- --------- --------------------                      ----- --------------------                                              -------------------- --------- --------------------                      ----- --------------------
                                                                                                                                                                                                                                                                                                                                                 
 Nonoperating income, net                                                                                              71                                               -                      %                                                                        66                                               -                      %
 Interest expense                                                                               (3,715 )                                          (1.0 )                    %                                                 (2,961 )                                          (0.8 )                    %
                                                                                           -------------------- --------- --------------------                      ----- --------------------                                              -------------------- --------- --------------------                      ----- --------------------
 Income before income taxes                                                                                        36,984                                             9.8                      %                                                                    13,112                                             3.4                      %
                                                                                                                                                                                                                                                                                                                                                 
Income tax expense                                                                               1,288                          0.3   %                                                  3,524                          0.9   %
                                                                                           -------------------- --------- --------------------                      ----- --------------------                                              -------------------- --------- --------------------                      ----- --------------------
Net income                                                                                                    $    35,696                          9.5   %                                                               $     9,588                          2.5   %
                                                                                           ==================== ========= ====================                      ===== ====================                                              ==================== ========= ====================                      ===== ====================
                                                                                                                                                                                                                                                                                                                                                 
Diluted EPS                                                                                                   $      1.30                                                                                                                                      $      0.34
                                                                                                                                                                                                                                                                                                                                                 
Weighted average shares of common stock used in computing diluted EPS                                              27,550                                                                                                                                           28,287
 
                                                                                                                                                                                                           Fiscal Years Ended the Last Day of February
                                                                                           ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                            2017                                                                                                                                                      2016
                                                                                           -------------------------------------------------------------------------------------------------------                                          -------------------------------------------------------------------------------------------------------------------------
Sales revenue, net                                                                                            $ 1,537,219                                           100.0                      %                                                               $ 1,545,701                                           100.0                      %
Cost of goods sold                                                                             861,751                         56.1   %                                                909,696                         58.9   %
                                                                                           -------------------- --------- --------------------                      ----- --------------------                                              -------------------- --------- --------------------                      ----- --------------------
 Gross profit                                                                                                     675,468                                            43.9                      %                                                                   636,005                                            41.1                      %
                                                                                                                                                                                                                                                                                                                                                 
Selling, general, and administrative expense ("SG&A")                                                             498,736                                            32.4                      %                                                                   499,390                                            32.3                      %
Asset impairment charges                                                                        12,400                          0.8   %                                                  6,000                          0.4   %
                                                                                           -------------------- --------- --------------------                      ----- --------------------                                              -------------------- --------- --------------------                      ----- --------------------
 Operating income                                                                              164,332                         10.7   %                                                130,615                          8.5   %
                                                                                           -------------------- --------- --------------------                      ----- --------------------                                              -------------------- --------- --------------------                      ----- --------------------
                                                                                                                                                                                                                                                                                                                                                 
 Nonoperating income, net                                                                                             414                                               -                      %                                                                       299                                               -                      %
 Interest expense                                                                              (14,857 )                                          (1.0 )                    %                                                (11,096 )                                          (0.7 )                    %
                                                                                           -------------------- --------- --------------------                      ----- --------------------                                              -------------------- --------- --------------------                      ----- --------------------
 Income before income taxes                                                                                       149,889                                             9.8                      %                                                                   119,818                                             7.8                      %
                                                                                                                                                                                                                                                                                                                                                 
Income tax expense                                                                               9,200                          0.6   %                                                 18,590                          1.2   %
                                                                                           -------------------- --------- --------------------                      ----- --------------------                                              -------------------- --------- --------------------                      ----- --------------------
Net income                                                                                                    $   140,689                          9.2   %                                                               $   101,228                          6.5   %
                                                                                           ==================== ========= ====================                      ===== ====================                                              ==================== ========= ====================                      ===== ====================
                                                                                                                                                                                                                                                                                                                                                 
Diluted EPS                                                                                                   $      5.04                                                                                                                                      $      3.52
                                                                                                                                                                                                                                                                                                                                                 
Weighted average shares of common stock used in computing diluted EPS                                              27,891                                                                                                                                           28,749
                                                                                                                                                                                                                                                                                                                                                 
 
                                                                                                                                                    HELEN OF TROY LIMITED AND SUBSIDIARIES
                                                                                                                                                       Net Sales Revenue by Segment (9)
                                                                                                                                                                  (Unaudited)
                                                                                                                                                                (in thousands)
 
                                                    Three Months Ended the Last Day of February                                                                                                                  % of Sales Revenue, net
                                                   -----------------------------------------------------------------------------------                                                                                                                                                 -----------------------------------
                                                                2017                             2016                                                       $ Change                        % Change                           2017      2016
                                                   --------------------------------------------------- -------------------------------                     -------------------------------------------------                      -------- --------------------                        -----                        -----
Sales revenue by segment, net                                                      
 Housewares                                                           $   102,826                                         $    78,813                                         $  24,013                                               30.5                      %                       27.3 %                       20.4 %
 Health & Home                                                            162,119                                             170,021                                            (7,902 )                                             (4.6 )                    %                       43.0 %                       44.1 %
 Nutritional Supplements                                                   29,328                                              38,146                                            (8,818 )                                            (23.1 )                    %                        7.8 %                        9.9 %
 Beauty                                                 82,424                           98,744                        (16,320 )                                            (16.5 )                    %                       21.9 %                       25.6 %
                                                   -------------------- ---------                      -------------------- ---------                      -------------------- ------- --------------------                      -------- --------------------                        -----                        -----
  Total sales revenue, net                                            $   376,697                                         $   385,724                                         $  (9,027 )                                             (2.3 )                    %                      100.0 %                      100.0 %
                                                   ==================== =========                      ==================== =========                      ==================== ======= ====================                      ======== ====================                        =====                        =====
                                                                                                                                                                                                                                                                                                                           
                                                                                                                                                                                                                                                                                                                           
                                                                       Fiscal Years Ended the Last Day of February                                                                                                                                                                           % of Sales Revenue, net
                                                   -----------------------------------------------------------------------------------                                                                                                                                                 -----------------------------------
                                                                2017                                                2016                                                       $ Change                        % Change                           2017                         2016
                                                   -------------------------------                     -------------------------------                     -------------------------------------------------                      -------- --------------------                        -----                        -----
Sales revenue by segment, net
 Housewares                                                           $   418,128                                         $   310,663                                         $ 107,465                                               34.6                      %                       27.2 %                       20.1 %
 Health & Home                                                            632,769                                             642,735                                            (9,966 )                                             (1.6 )                    %                       41.2 %                       41.6 %
 Nutritional Supplements                                                  130,543                                             153,126                                           (22,583 )                                            (14.7 )                    %                        8.5 %                        9.9 %
 Beauty                                                355,779                          439,177                        (83,398 )                                            (19.0 )                    %                       23.1 %                       28.4 %
                                                   -------------------- ---------                      -------------------- ---------                      -------------------- ------- --------------------                      -------- --------------------                        -----                        -----
  Total sales revenue, net                                            $ 1,537,219                                         $ 1,545,701                                         $  (8,482 )                                             (0.5 )                    %                      100.0 %                      100.0 %
                                                   ==================== =========                      ==================== =========                      ==================== ======= ====================                      ======== ====================                        =====                        =====
                                                                                                                                                                                                                                                                                                                           
 
                                                                                                                                                  HELEN OF TROY LIMITED AND SUBSIDIARIES
                                                                                                                                                    Consolidated and Segment Net Sales
                                                                                                                                                                (Unaudited)
                                                                                                                                                              (in thousands)
 
                                                                                                                                               Three Months Ended February 28, 2017
                                                    ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                               Housewares                      Health & Home                     Nutritional                       Beauty                            Total
                                                                                                                                                                                          Supplements
                                                    -------------------- ---------------------------    -------------------- ---------------------------    -------------------- --------------------------    -------------------- ---------------------------    -------------------- ---------------------------
Fiscal 2016 sales revenue, net                                         $  78,813                                           $ 170,021                                           $ 38,146                                           $  98,744                                           $ 385,724
  Core business                                                           (4,727 )                                            (7,316 )                                           (8,818 )                                           (11,096 )                                           (31,957 )
  Impact of foreign currency                                                (488 )                                              (586 )                                                -                                                (723 )                                            (1,797 )
  Venezuela re-measurement                                                     -                                                   -                                                  -                                              (4,501 )                                            (4,501 )
  Acquisitions                                         29,228             -            -             -        29,228  
                                                    -------------------- ------- --------------------   -------------------- ------- --------------------   -------------------- ------ --------------------   -------------------- ------- --------------------   -------------------- ------- --------------------
Change in sales revenue, net                           24,013        (7,902 )                        (8,818 )                        (16,320 )                         (9,027 )
                                                    -------------------- ------- --------------------   -------------------- ------- --------------------   -------------------- ------ --------------------   -------------------- ------- --------------------   -------------------- ------- --------------------
Fiscal 2017 sales revenue, net                                         $ 102,826                        $ 162,119                        $ 29,328                        $  82,424                        $ 376,697  
                                                    ==================== ======= ====================   ==================== ======= ====================   ==================== ====== ====================   ==================== ======= ====================   ==================== ======= ====================
                                                                                                                                                                                                                                                                                                                      
Total net sales revenue growth                                              30.5                      %                         (4.6 )                    %                       (23.1 )                    %                        (16.5 )                    %                         (2.3 )                    %
  Core business                                                             (6.0 )                    %                         (4.3 )                    %                       (23.1 )                    %                        (11.2 )                    %                         (8.3 )                    %
  Impact of foreign currency                                                (0.6 )                    %                         (0.3 )                    %                         0.0                      %                         (0.7 )                    %                         (0.5 )                    %
  Venezuela re-measurement                                                   0.0                      %                          0.0                      %                         0.0                      %                         (4.6 )                    %                         (1.2 )                    %
  Acquisitions                                                              37.1                      %                          0.0                      %                         0.0                      %                          0.0                      %                          7.6                      %
                                                                                                                                                                                                                                                                                                                      
 
                                                                                                                                                  Fiscal Year Ended February 28, 2017
                                                    ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                             Housewares (1)                      Health &                        Nutritional                        Beauty                             Total
                                                                                                                                       Home (2)                                           Supplements
                                                    -------------------- ---------------------------    -------------------- ---------------------------    -------------------- ---------------------------    -------------------- ---------------------------    -------------------- -----------------------------
Fiscal 2016 sales revenue, net                                         $ 310,663                                           $ 642,735                                           $ 153,126                                           $ 439,177                                           $ 1,545,701
  Core business                                                            2,402                                              (8,257 )                                           (22,583 )                                           (56,853 )                                             (85,291 )
  Impact of foreign currency                                              (1,942 )                                            (2,421 )                                                 -                                              (5,339 )                                              (9,702 )
  Venezuela re-measurement                                                     -                                                   -                                                   -                                             (21,206 )                                             (21,206 )
  Acquisitions                                        107,005           712             -             -         107,717  
                                                    -------------------- ------- --------------------   -------------------- ------- --------------------   -------------------- ------- --------------------   -------------------- ------- --------------------   -------------------- --------- --------------------
Change in sales revenue, net                          107,465        (9,966 )                        (22,583 )                        (83,398 )                           (8,482 )
                                                    -------------------- ------- --------------------   -------------------- ------- --------------------   -------------------- ------- --------------------   -------------------- ------- --------------------   -------------------- --------- --------------------
Fiscal 2017 sales revenue, net                                         $ 418,128                        $ 632,769                        $ 130,543                        $ 355,779                        $ 1,537,219  
                                                    ==================== ======= ====================   ==================== ======= ====================   ==================== ======= ====================   ==================== ======= ====================   ==================== ========= ====================
                                                                                                                                                                                                                                                                                                                         
Total net sales revenue growth                                              34.6                      %                         (1.6 )                    %                        (14.7 )                    %                        (19.0 )                    %                           (0.5 )                    %
  Core business                                                              0.8                      %                         (1.3 )                    %                        (14.7 )                    %                        (12.9 )                    %                           (5.5 )                    %
  Impact of foreign currency                                                (0.6 )                    %                         (0.4 )                    %                          0.0                      %                         (1.2 )                    %                           (0.6 )                    %
  Venezuela re-measurement                                                   0.0                      %                          0.0                      %                          0.0                      %                         (4.8 )                    %                           (1.4 )                    %
  Acquisitions                                                              34.4                      %                          0.1                      %                          0.0                      %                          0.0                      %                            7.0                      %
                                                                                                                                                                                                                                                                                                                         
(1)   Fiscal 2017 includes eleven and a half months of incremental
                         operating results from the Hydro Flask acquisition, acquired on
                         March 18, 2016.
(2)                      Fiscal 2017 includes one month of incremental operating results from
                         the Vicks VapoSteam inhalant business acquisition, acquired on March
                         31, 2015.
                          
 
                                                          HELEN OF TROY LIMITED AND SUBSIDIARIES
                                               Selected Consolidated Balance Sheet, Cash Flow and Liquidity
                                                                        Information
                                                                        (Unaudited)
                                                                      (in thousands)
 
                                                                                     Last Day of February
                                                                           -------------------------------------------------------------------------------
                                                                                  2017                         2016 (a)
                                                                           -------------------                     ---------------------------------------
Balance Sheet:
 Cash and cash equivalents                                                      $    23,087                             $    225,800
 Receivables, net                                                                   229,928                                  217,543
 Inventory, net                                                                     289,122                                  301,609
 Total assets, current                                                              556,078                                  755,088
 Total assets                                                                     1,813,096                                1,848,894
 Total liabilities, current                                                         289,367                                  267,602
 Total long-term liabilities                                                        502,963                                  651,249
 Total debt                                                                         485,615                                  619,914
 Stockholders’ equity                                                             1,020,766                                  930,043
                                                                                                                           
Liquidity:
 Working capital                                                                $   266,711                             $    487,486
                                                                                                                           
                                                                                             Fiscal Years Ended the Last Day of February
                                                                           -------------------------------------------------------------------------------
                                                                                  2017                                              2016
                                                                           -------------------                     ---------------------------------------
Cash Flow:
 Depreciation and amortization                                                  $    44,341                             $     42,749
 Net cash provided by operating activities                                          228,501                                  186,545
 Capital and intangible asset expenditures                                           20,619                                   20,603
 Payments to acquire businesses, net of cash received                               209,267                                   43,150
 Net amounts borrowed (repaid)                                                     (133,200 )                                190,700
 Payments for repurchases of common stock                                            75,000                                  100,000
                                                                                                                                      
(a)   As a result of the adoption of new accounting standards for fiscal
                         year 2017, amounts reported as of February 29, 2016 have be
                         reclassified to conform with current year’s presentation.
 
                                                                                                                                                                                                                                     SELECTED OTHER DATA
                                                                                                                                                                                                               Reconciliation of Non-GAAP Financial Measures - GAAP Operating
                                                                                                                                                                                                                                     Income
                                                                                                                                                                                                                             to Adjusted Operating Income (non-GAAP) (1) (9)
                                                                                                                                                                                                                                     (Unaudited)
                                                                                                                                                                                                                                     (in thousands)
 
                                                                                                                                                                                                                                   Three Months Ended February 28, 2017
                                                            ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                  Housewares                                                Health & Home                                                                    Nutritional                                                                       Beauty                                                      Total
                                                                                                                                                                                                                                                                   Supplements
                                                            --------------------------------------------------                            --------------------------------------------------                            ------------------------------------------------------------------------------------------                              --------------------------------------------------                            --------------------------------------------------
Operating income, as reported (GAAP)                                           $ 20,685   20.1 %                                          $ 13,138    8.1 %                                          $ (1,352 )                      (4.6 )                    %                                          $  8,157    9.9 %                                          $ 40,628   10.8 %
 Asset impairment charges (8)                                      -                         - %                              -                         - %                          4,500                        15.3   %                            500                       0.6 %                          5,000                       1.3 %
                                                            -------------------- ------                      ----                         -------------------- ------                      ----                         -------------------- ------ --------------------                      ---- --------------------                         -------------------- ------                      ----                         -------------------- ------                      ----
  Subtotal                                                                       20,685                      20.1 %                                            13,138                       8.1 %                                             3,148                                           10.7                      %                                             8,657                      10.5 %                                            45,628                      12.1 %
 Non-cash share-based compensation (3)                                              781                       0.8 %                                             1,241                       0.8 %                                               628                                            2.1                      %                                             1,187                       1.4 %                                             3,837                       1.0 %
 Amortization of intangible assets (4)                           657                       0.6 %                          3,037                       1.9 %                          1,571                         5.4   %                          1,418                       1.7 %                          6,683                       1.8 %
                                                            -------------------- ------                      ----                         -------------------- ------                      ----                         -------------------- ------ --------------------                      ---- --------------------                         -------------------- ------                      ----                         -------------------- ------                      ----
Adjusted operating income (non-GAAP)                                           $ 22,123                      21.5 %                                          $ 17,416                      10.7 %                                          $  5,347                        18.2   %                                          $ 11,262                      13.7 %                                          $ 56,148                      14.9 %
                                                            ==================== ======                      ====                         ==================== ======                      ====                         ==================== ====== ====================                      ==== ====================                         ==================== ======                      ====                         ==================== ======                      ====
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
 
                                                                                                                                                                                                                                       Three Months Ended February 29, 2016
                                                                   ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                         Housewares                                               Health & Home                                             Nutritional                                                                      Beauty                                                                          Total
                                                                                                                                                                                                                                                  Supplements
                                                                   --------------------------------------------------                           --------------------------------------------------                           -------------------------------------------------                           ------------------------------------------------------------------------------------------                             --------------------------------------------------
Operating income, as reported (GAAP)                                                  $ 14,798   18.8 %                                         $  6,780    4.0 %                                         $ 2,823    7.4 %                                         $ (8,394 )                      (8.5 )                    %                                         $ 16,007    4.1 %
 Acquisition-related expenses (5)                                                          698                       0.9 %                                                -                         - %                                               -                         - %                                                -                                              -                      %                                              698                       0.2 %
 Venezuela re-measurement related charges (6)                                                -                         - %                                                -                         - %                                               -                         - %                                           18,733                                           19.0                      %                                           18,733                       4.9 %
 Patent litigation charge (7)                                                                -                         - %                                           17,830                      10.5 %                                               -                         - %                                                -                                              -                      %                                           17,830                       4.6 %
 Asset impairment charges (8)                                             -                         - %                             -                         - %                            -                         - %                         3,000                         3.0   %                         3,000                       0.8 %
                                                                   -------------------- ------                      ----                        -------------------- ------                      ----                        -------------------- -----                      ----                        -------------------- ------ --------------------                      ---- --------------------                        -------------------- ------                      ----
  Subtotal                                                                              15,496                      19.7 %                                           24,610                      14.5 %                                           2,823                       7.4 %                                           13,339                                           13.5                      %                                           56,268                      14.6 %
 Non-cash share-based compensation (3)                                                     410                       0.5 %                                              685                       0.4 %                                             345                       0.9 %                                              896                                            0.9                      %                                            2,336                       0.6 %
 Amortization of intangible assets (4)                                  349                       0.4 %                         3,538                       2.1 %                        1,567                       4.1 %                         1,436                         1.5   %                         6,890                       1.8 %
                                                                   -------------------- ------                      ----                        -------------------- ------                      ----                        -------------------- -----                      ----                        -------------------- ------ --------------------                      ---- --------------------                        -------------------- ------                      ----
Adjusted operating income (non-GAAP)                                                  $ 16,255                      20.6 %                                         $ 28,833                      17.0 %                                         $ 4,735                      12.4 %                                         $ 15,671                        15.9   %                                         $ 65,494                      17.0 %
                                                                   ==================== ======                      ====                        ==================== ======                      ====                        ==================== =====                      ====                        ==================== ====== ====================                      ==== ====================                        ==================== ======                      ====
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
 
                                                                                                                                                                                                                                  Fiscal Year Ended February 28, 2017
                                                            ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                  Housewares                                               Health & Home                                                                   Nutritional                                                                      Beauty                                                     Total
                                                                                                                                                                                                                                                                 Supplements
                                                            --------------------------------------------------                           --------------------------------------------------                           ------------------------------------------------------------------------------------------                             --------------------------------------------------                           ---------------------------------------------------
Operating income, as reported (GAAP)                                           $ 89,641   21.4 %                                         $ 52,294    8.3 %                                         $ (7,933 )                      (6.1 )                    %                                         $ 30,330    8.5 %                                         $ 164,332   10.7 %
 Patent litigation charge (7)                                                         -                         - %                                            1,468                       0.2 %                                                -                                              -                      %                                                -                         - %                                             1,468                       0.1 %
 Asset impairment charges (8)                                      -                         - %                             -                         - %                         9,500                         7.3   %                         2,900                       0.8 %                         12,400                       0.8 %
                                                            -------------------- ------                      ----                        -------------------- ------                      ----                        -------------------- ------ --------------------                      ---- --------------------                        -------------------- ------                      ----                        -------------------- -------                      ----
  Subtotal                                                                       89,641                      21.4 %                                           53,762                       8.5 %                                            1,567                                            1.2                      %                                           33,230                       9.3 %                                           178,200                      11.6 %
 Non-cash share-based compensation (3)                                            3,185                       0.8 %                                            5,028                       0.8 %                                            2,362                                            1.8                      %                                            4,923                       1.4 %                                            15,498                       1.0 %
 Amortization of intangible assets (4)                         2,643                       0.6 %                        13,663                       2.2 %                         6,284                         4.8   %                         5,718                       1.6 %                         28,308                       1.8 %
                                                            -------------------- ------                      ----                        -------------------- ------                      ----                        -------------------- ------ --------------------                      ---- --------------------                        -------------------- ------                      ----                        -------------------- -------                      ----
Adjusted operating income (non-GAAP)                                           $ 95,469                      22.8 %                                         $ 72,453                      11.5 %                                         $ 10,213                         7.8   %                                         $ 43,871                      12.3 %                                         $ 222,006                      14.4 %
                                                            ==================== ======                      ====                        ==================== ======                      ====                        ==================== ====== ====================                      ==== ====================                        ==================== ======                      ====                        ==================== =======                      ====
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
 
                                                                                                                                                                                                                    Fiscal Year Ended February 29, 2016
                                                                   ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                         Housewares                                               Health & Home                                              Nutritional                                                 Beauty                                                     Total
                                                                                                                                                                                                                                                   Supplements
                                                                   --------------------------------------------------                           --------------------------------------------------                           --------------------------------------------------                           --------------------------------------------------                           ---------------------------------------------------
Operating income, as reported (GAAP)                                                  $ 56,659   18.2 %                                         $ 38,078    5.9 %                                         $ 11,446    7.5 %                                         $ 24,432    5.6 %                                         $ 130,615    8.5 %
 Acquisition-related expenses (5)                                                          698                       0.2 %                                                -                         - %                                                -                         - %                                                -                         - %                                               698                         - %
 CEO succession costs (2)                                                                1,348                       0.4 %                                            2,722                       0.4 %                                              704                       0.5 %                                            1,933                       0.4 %                                             6,707                       0.4 %
 Venezuela re-measurement related charges (6)                                                -                         - %                                                -                         - %                                                -                         - %                                           18,733                       4.3 %                                            18,733                       1.2 %
 Patent litigation charge (7)                                                                -                         - %                                           17,830                       2.8 %                                                -                         - %                                                -                         - %                                            17,830                       1.2 %
 Asset impairment charges (8)                                             -                         - %                             -                         - %                             -                         - %                         6,000                       1.4 %                          6,000                       0.4 %
                                                                   -------------------- ------                      ----                        -------------------- ------                      ----                        -------------------- ------                      ----                        -------------------- ------                      ----                        -------------------- -------                      ----
  Subtotal                                                                              58,705                      18.9 %                                           58,630                       9.1 %                                           12,150                       7.9 %                                           51,098                      11.6 %                                           180,583                      11.7 %
 Non-cash share-based compensation (3)                                                   1,344                       0.4 %                                            2,470                       0.4 %                                            1,319                       0.9 %                                            3,350                       0.8 %                                             8,483                       0.5 %
 Amortization of intangible assets (4)                                1,325                       0.4 %                        14,438                       2.2 %                         6,259                       4.1 %                         5,751                       1.3 %                         27,773                       1.8 %
                                                                   -------------------- ------                      ----                        -------------------- ------                      ----                        -------------------- ------                      ----                        -------------------- ------                      ----                        -------------------- -------                      ----
Adjusted operating income (non-GAAP)                                                  $ 61,374                      19.8 %                                         $ 75,538                      11.8 %                                         $ 19,728                      12.9 %                                         $ 60,199                      13.7 %                                         $ 216,839                      14.0 %
                                                                   ==================== ======                      ====                        ==================== ======                      ====                        ==================== ======                      ====                        ==================== ======                      ====                        ==================== =======                      ====
                                                                                                                                                                                                                                                                                                                                                                                                                                               
 
                                                                                                                                 SELECTED OTHER DATA
                                                                                                               Reconciliation of Non-GAAP Financial Measures - EBITDA
                                                                                                                 (Earnings Before Interest, Taxes, Depreciation and
                                                                                                                      Amortization) and Adjusted EBITDA (1) (9)
                                                                                                                                     (Unaudited)
                                                                                                                                   (in thousands)
 
                                                                                  Three Months Ended the Last Day of February                                              Fiscal Years Ended the Last Day of February
                                                                                  ---------------------------------------------------------------------------------                     ---------------------------------------------------------------------------------------------
                                                                                               2017                            2016                                               2017                                  2016
                                                                                  ------------------------------                     ------------------------------                     ------------------------------                     ------------------------------------------
Net income (GAAP)                                                                                    $   35,696                                         $    9,588                                         $  140,689                                         $              101,228
                                                                                                                                                                                                                                                                 
 Interest expense, net                                                                                    3,691                                              2,915                                             14,743                                                         10,981
                                                                                                                                                                                                                                                                 
 Income tax expense                                                                                       1,288                                              3,524                                              9,200                                                         18,590
                                                                                                                                                                                                                                                                 
 Depreciation and amortization, excluding amortized interest                          11,018                          10,803                          44,341                                      42,749
                                                                                  -------------------- --------                      -------------------- --------                      -------------------- --------                      -------------------- --------------------
                                                                                                                                                                                                                                                                 
EBITDA (non-GAAP)                                                                                        51,693                                             26,830                                            208,973                                                        173,548
                                                                                                                                                                                                                                                                 
 Add: CEO succession costs (2)                                                                                -                                                  -                                                  -                                                          6,707
                                                                                                                                                                                                                                                                 
       Non-cash share-based compensation (3)                                                              3,837                                              2,336                                             15,498                                                          8,483
                                                                                                                                                                                                                                                                 
       Acquisition-related expenses (5)                                                                       -                                                698                                                  -                                                            698
                                                                                                                                                                                                                                                                 
       Venezuela re-measurement related charges (6)                                                           -                                             18,733                                                  -                                                         18,733
                                                                                                                                                                                                                                                                 
       Patent litigation charge (7)                                                                           -                                             17,830                                              1,468                                                         17,830
                                                                                                                                                                                                                                                                 
       Non-cash asset impairment charges (8)                                           5,000                           3,000                          12,400                                       6,000
                                                                                  -------------------- --------                      -------------------- --------                      -------------------- --------                      -------------------- --------------------
                                                                                                                                                                                                                                                                 
Adjusted EBITDA (non-GAAP)                                                                           $   60,530                                         $   69,427                                         $  238,339                                         $              231,999
                                                                                  ==================== ========                      ==================== ========                      ==================== ========                      ==================== ====================
                                                                                                                                                                                                                                                                 
 
                                                                                                                                                                            SELECTED OTHER DATA
                                                                                                                                                          Reconciliation of Non-GAAP Financial Measures - EBITDA
                                                                                                                                                            (Earnings Before Interest, Taxes, Depreciation and
                                                                                                                                                           Amortization) and Adjusted EBITDA by Segment (1) (9)
                                                                                                                                                                                (Unaudited)
                                                                                                                                                                              (in thousands)
 
                                                                                                                                                                                         Three Months Ended February 28, 2017
                                                                                  ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                           Housewares                     Health &                               Nutritional                                          Beauty                                           Total
                                                                                                                                               Home                                                    Supplements
                                                                                  --------------------------                       --------------------------                       ----------------------------------------------                        ----------------------------------------------                        ----------------------------------------
Operating Income (GAAP)                                                                              $ 20,685                                         $ 13,138                                         $ (1,352 )                                                            $  8,157                                                              $               40,628
                                                                                                                                                                                                                                                                                                                                                      
 Depreciation and amortization, excluding amortized interest                                            1,523                                            4,636                                            2,166                                                                 2,693                                                                              11,018
                                                                                                                                                                                                                                                                                                                                                      
 Nonoperating income, net                                                                -                             -                             -                              47                                            47
                                                                                  -------------------- ------                      -------------------- ------                      -------------------- ------ --------------------                      -------------------- ------ --------------------                      -------------------- --------------------
                                                                                                                                                                                                                                                                                                                                                      
EBITDA (non-GAAP)                                                                                      22,208                                           17,774                                              814                                                                10,897                                                                              51,693
                                                                                                                                                                                                                                                                                                                                                      
 Add: Non-cash share-based compensation (3)                                                               781                                            1,241                                              628                                                                 1,187                                                                               3,837
                                                                                                                                                                                                                                                                                                                                                      
      Non-cash asset impairment charges (8)                                              -                             -                         4,500                             500                                         5,000
                                                                                  -------------------- ------                      -------------------- ------                      -------------------- ------ --------------------                      -------------------- ------ --------------------                      -------------------- --------------------
                                                                                                                                                                                                                                                                                                                                                      
Adjusted EBITDA (non-GAAP)                                                                           $ 22,989                                         $ 19,015                                         $  5,942                                           $ 12,584                                           $               60,530
                                                                                  ==================== ======                      ==================== ======                      ==================== ====== ====================                      ==================== ====== ====================                      ==================== ====================
                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                            Three Months Ended February 29, 2016
                                                                                  ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                           Housewares                                        Health &                                                  Nutritional                                                             Beauty                                                              Total
                                                                                                                                               Home                                                    Supplements
                                                                                  --------------------------                       --------------------------                       ----------------------------------------------                        ----------------------------------------------                        ----------------------------------------
Operating Income (GAAP)                                                                              $ 14,798                                         $  6,780                                         $  2,823                                                              $ (8,394 )                                                            $               16,007
                                                                                                                                                                                                                                                                                                                                                      
 Depreciation and amortization, excluding amortized interest                                            1,035                                            5,442                                            3,535                                                                   791                                                                              10,803
                                                                                                                                                                                                                                                                                                                                                      
 Nonoperating income, net                                                                -                             -                             -                              20                                            20
                                                                                  -------------------- ------                      -------------------- ------                      -------------------- ------ --------------------                      -------------------- ------ --------------------                      -------------------- --------------------
                                                                                                                                                                                                                                                                                                                                                      
EBITDA (non-GAAP)                                                                                      15,833                                           12,222                                            6,358                                                                (7,583 )                                                                            26,830
                                                                                                                                                                                                                                                                                                                                                      
 Add: Non-cash share-based compensation (3)                                                               410                                              685                                              345                                                                   896                                                                               2,336
                                                                                                                                                                                                                                                                                                                                                      
      Acquisition-related expenses (5)                                                                    698                                                -                                                -                                                                     -                                                                                 698
                                                                                                                                                                                                                                                                                                                                                      
      Venezuela re-measurement related charges (6)                                                          -                                                -                                                -                                                                18,733                                                                              18,733
                                                                                                                                                                                                                                                                                                                                                      
      Patent litigation charge (7)                                                                          -                                           17,830                                                -                                                                     -                                                                              17,830
                                                                                                                                                                                                                                                                                                                                                      
      Non-cash asset impairment charges (8)                                              -                             -                             -                           3,000                                         3,000
                                                                                  -------------------- ------                      -------------------- ------                      -------------------- ------ --------------------                      -------------------- ------ --------------------                      -------------------- --------------------
                                                                                                                                                                                                                                                                                                                                                      
Adjusted EBITDA (non-GAAP)                                                                           $ 16,941                                         $ 30,737                                         $  6,703                                           $ 15,046                                           $               69,427
                                                                                  ==================== ======                      ==================== ======                      ==================== ====== ====================                      ==================== ====== ====================                      ==================== ====================
                                                                                                                                                                                                                                                                                                                                                      
 
                                                                                                                                                                 SELECTED OTHER DATA
                                                                                                                                               Reconciliation of Non-GAAP Financial Measures - EBITDA
                                                                                                                                                 (Earnings Before Interest, Taxes, Depreciation and
                                                                                                                                                Amortization) and Adjusted EBITDA by Segment (1) (9)
                                                                                                                                                                     (Unaudited)
                                                                                                                                                                   (in thousands)
 
                                                                                                                                                                               Fiscal Year Ended February 28, 2017
                                                                                  ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                           Housewares                     Health &                               Nutritional                                Beauty                                Total
                                                                                                                                               Home                                                    Supplements
                                                                                  --------------------------                       --------------------------                       ----------------------------------------------                        --------------------------                       ----------------------------------------
Operating income (GAAP)                                                                              $ 89,641                                         $ 52,294                                         $ (7,933 )                                                            $ 30,330                                         $              164,332
                                                                                                                                                                                                                                                                                                                                 
 Depreciation and amortization, excluding amortized interest                                            5,723                                           20,374                                            8,408                                                                 9,836                                                         44,341
                                                                                                                                                                                                                                                                                                                                 
 Nonoperating income, net                                                                -                             -                             -                             300                                         300
                                                                                  -------------------- ------                      -------------------- ------                      -------------------- ------ --------------------                      -------------------- ------                      -------------------- --------------------
                                                                                                                                                                                                                                                                                                                                 
EBITDA (non-GAAP)                                                                                      95,364                                           72,668                                              475                                                                40,466                                                        208,973
                                                                                                                                                                                                                                                                                                                                 
 Add: Non-cash share-based compensation (3)                                                             3,185                                            5,028                                            2,362                                                                 4,923                                                         15,498
                                                                                                                                                                                                                                                                                                                                 
     Patent litigation charge (7)                                                                           -                                            1,468                                                -                                                                     -                                                          1,468
                                                                                                                                                                                                                                                                                                                                 
     Non-cash asset impairment charges (8)                                               -                             -                         9,500                           2,900                                      12,400
                                                                                  -------------------- ------                      -------------------- ------                      -------------------- ------ --------------------                      -------------------- ------                      -------------------- --------------------
                                                                                                                                                                                                                                                                                                                                 
Adjusted EBITDA (non-GAAP)                                                                           $ 98,549                                         $ 79,164                                         $ 12,337                                           $ 48,289                                         $              238,339
                                                                                  ==================== ======                      ==================== ======                      ==================== ====== ====================                      ==================== ======                      ==================== ====================
                                                                                                                                                                                                                                                                                                                                 
                                                                                                                                                                                                                                                                                                                                 
                                                                                                                                                                                                  Fiscal Year Ended February 29, 2016
                                                                                  ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                           Housewares                                        Health &                                                  Nutritional                                                   Beauty                                                   Total
                                                                                                                                               Home                                                    Supplements
                                                                                  --------------------------                       --------------------------                       ----------------------------------------------                        --------------------------                       ----------------------------------------
Operating income (GAAP)                                                                              $ 56,659                                         $ 38,078                                         $ 11,446                                                              $ 24,432                                         $              130,615
                                                                                                                                                                                                                                                                                                                                 
 Depreciation and amortization, excluding amortized interest                                            4,183                                           21,300                                            9,424                                                                 7,842                                                         42,749
                                                                                                                                                                                                                                                                                                                                 
 Nonoperating income, net                                                                -                             -                             -                             184                                         184
                                                                                  -------------------- ------                      -------------------- ------                      -------------------- ------ --------------------                      -------------------- ------                      -------------------- --------------------
                                                                                                                                                                                                                                                                                                                                 
EBITDA (non-GAAP)                                                                                      60,842                                           59,378                                           20,870                                                                32,458                                                        173,548
                                                                                                                                                                                                                                                                                                                                 
 Add: CEO succession costs (2)                                                                          1,348                                            2,722                                              704                                                                 1,933                                                          6,707
                                                                                                                                                                                                                                                                                                                                 
      Non-cash share-based compensation (3)                                                             1,344                                            2,470                                            1,319                                                                 3,350                                                          8,483
                                                                                                                                                                                                                                                                                                                                 
      Acquisition-related expenses (5)                                                                    698                                                -                                                -                                                                     -                                                            698
                                                                                                                                                                                                                                                                                                                                 
      Venezuela re-measurement related charges (6)                                                          -                                                -                                                -                                                                18,733                                                         18,733
                                                                                                                                                                                                                                                                                                                                 
      Patent litigation charge (7)                                                                          -                                           17,830                                                -                                                                     -                                                         17,830
                                                                                                                                                                                                                                                                                                                                 
      Non-cash asset impairment charges (8)                                              -                             -                             -                           6,000                                       6,000
                                                                                  -------------------- ------                      -------------------- ------                      -------------------- ------ --------------------                      -------------------- ------                      -------------------- --------------------
                                                                                                                                                                                                                                                                                                                                 
Adjusted EBITDA (non-GAAP)                                                                           $ 64,232                                         $ 82,400                                         $ 22,893                                           $ 62,474                                         $              231,999
                                                                                  ==================== ======                      ==================== ======                      ==================== ====== ====================                      ==================== ======                      ==================== ====================
                                                                                                                                                                                                                                                                                                                                 
 
                                                                                                                                                                     HELEN OF TROY LIMITED AND SUBSIDIARIES
                                                                                                                                                         Reconciliation of GAAP Net Income and Earnings Per Share (EPS)
                                                                                                                                                           to Adjusted Income and Adjusted EPS (non-GAAP) (1) (9) (10)
                                                                                                                                                                                   (Unaudited)
                                                                                                                                                                  (dollars in thousands, except per share data)
 
                                                                                          Three Months Ended                                                                   Basic EPS                                                                            Diluted EPS
                                                                                                          the Last Day of February
                                                                               --------------------------------------------------------------------------                          ------------------------------------------------------------------------                          --------------------------------------------------------------------------------------
                                                                                           2017                           2016                                              2017                          2016                                             2017                                 2016
                                                                               -----------------------------                     -----------------------------                     ----------------------------                     ----------------------------                     ----------------------------                     ------------------------------------------
Net income as reported (GAAP)                                                                     $  35,696                                         $   9,588                                         $   1.31                                         $   0.34                                         $   1.30                                         $                 0.34
 Acquisition-related expenses, net of tax (5)                                                             -                                               696                                                -                                             0.03                                                -                                                           0.02
 Venezuela re-measurement related charges, net of tax (6)                                                 -                                            18,733                                                -                                             0.67                                                -                                                           0.66
 Patent litigation charge, net of tax (7)                                                                 -                                            17,785                                                -                                             0.63                                                -                                                           0.63
 Asset impairment charges, net of tax (8)                                          3,198                          2,656                          0.12                          0.09                          0.12                                        0.09
                                                                               -------------------- -------                      -------------------- -------                      -------------------- ------                      -------------------- ------                      -------------------- ------                      -------------------- --------------------
  Subtotal                                                                                           38,894                                            49,458                                             1.43                                             1.77                                             1.41                                                           1.75
 Non-cash share-based compensation, net of tax (3)                                                    4,361                                             2,041                                             0.16                                             0.07                                             0.16                                                           0.07
 Amortization of intangible assets, net of tax (4)                                 5,718                          5,955                          0.21                          0.21                          0.21                                        0.21
                                                                               -------------------- -------                      -------------------- -------                      -------------------- ------                      -------------------- ------                      -------------------- ------                      -------------------- --------------------
Adjusted income (non-GAAP)                                                                        $  48,973                                         $  57,454                                         $   1.80                                         $   2.05                                         $   1.78                                         $                 2.03
                                                                               ==================== =======                      ==================== =======                      ==================== ======                      ==================== ======                      ==================== ======                      ==================== ====================
                                                                                                                                                                                                                                                                                                                                                            
Weighted average shares of common stock used in
 computing basic and diluted EPS                                                                                                                                                     27,146                        28,009                        27,550                                      28,287
                                                                                                                                                                                   ==================== ======                      ==================== ======                      ==================== ======                      ==================== ====================
                                                                                                                                                                                                                                                                                                                                                            
                                                                                                             Fiscal Years Ended                                                                                      Basic EPS                                                                                               Diluted EPS
                                                                                                          the Last Day of February
                                                                               --------------------------------------------------------------------------                          ------------------------------------------------------------------------                          --------------------------------------------------------------------------------------
                                                                                           2017                                              2016                                              2017                                             2016                                             2017                                                    2016
                                                                               -----------------------------                     -----------------------------                     ----------------------------                     ----------------------------                     ----------------------------                     ------------------------------------------
Net income as reported (GAAP)                                                                     $ 140,689                                         $ 101,228                                         $   5.11                                         $   3.58                                         $   5.04                                         $                 3.52
 CEO succession costs, net of tax (2)                                                                     -                                             4,645                                                -                                             0.16                                                -                                                           0.16
 Acquisition-related expenses, net of tax (5)                                                             -                                               696                                                -                                             0.03                                                -                                                           0.02
 Venezuela re-measurement related charges, net of tax (6)                                                 -                                            18,733                                                -                                             0.66                                                -                                                           0.65
 Patent litigation charge, net of tax (7)                                                             1,464                                            17,785                                             0.05                                             0.63                                             0.05                                                           0.62
 Asset impairment charges, net of tax (8)                                          8,295                          5,312                          0.30                          0.19                          0.30                                        0.18
                                                                               -------------------- -------                      -------------------- -------                      -------------------- ------                      -------------------- ------                      -------------------- ------                      -------------------- --------------------
  Subtotal                                                                                          150,448                                           148,399                                             5.46                                             5.25                                             5.39                                                           5.16
 Non-cash share-based compensation, net of tax (3)                                                   13,102                                             7,199                                             0.48                                             0.25                                             0.47                                                           0.25
 Amortization of intangible assets, net of tax (4)                                24,338                         24,063                          0.88                          0.85                          0.87                                        0.84
                                                                               -------------------- -------                      -------------------- -------                      -------------------- ------                      -------------------- ------                      -------------------- ------                      -------------------- --------------------
Adjusted income (non-GAAP)                                                                        $ 187,888                                         $ 179,661                                         $   6.82                                         $   6.35                                         $   6.73                                         $                 6.25
                                                                               ==================== =======                      ==================== =======                      ==================== ======                      ==================== ======                      ==================== ======                      ==================== ====================
                                                                                                                                                                                                                                                                                                                                                            
Weighted average shares of common stock used in
 computing basic and diluted EPS                                                                                                                                                     27,522                        28,273                        27,891                                      28,749
                                                                                                                                                                                   ==================== ======                      ==================== ======                      ==================== ======                      ==================== ====================
                                                                                                                                                                                                                                                                                                                                                            
 
                                                    HELEN OF TROY LIMITED AND SUBSIDIARIES
                                        Reconciliation of Fiscal Year 2018 Outlook for GAAP Diluted EPS
                                                  to Adjusted Diluted EPS (non-GAAP) (1) (11)
                                                                  (Unaudited)
 
                                                                     Fiscal Year Ended February 28, 2018
                                                                    ----------------------------------------------------------------------
Diluted EPS, as reported (GAAP)                                                        $      5.38 -                    $                 5.71
 Non-cash share-based compensation, net of tax                                                0.33 -                                      0.38
 Amortization of intangible assets, net of tax                             0.79 -                   0.81
                                                                    -------------------- --------- - -------------------- --------------------
Adjusted diluted EPS (non-GAAP)                                                        $      6.50 -                    $                 6.90
                                                                    ==================== ========= = ==================== ====================
                                                                                                                           

HELEN OF TROY LIMITED AND SUBSIDIARIES

Notes to Press Release

(1)   This press release contains non-GAAP financial measures. Adjusted
                         operating income, adjusted operating margin, adjusted income,
                         adjusted diluted EPS, EBITDA, and adjusted EBITDA ("Non-GAAP
                         measures") that are discussed in the accompanying press release or
                         in the preceding tables are considered non-GAAP financial
                         information as contemplated by SEC Regulation G, Rule 100.
                         Accordingly, we are providing the preceding tables that reconcile
                         these measures to their corresponding GAAP-based measures presented
                         in our Consolidated Condensed Statements of Income in the
                         accompanying tables to the press release. The Company believes that
                         these non-GAAP measures provide useful information to management and
                         investors regarding financial and business trends relating to its
                         financial condition and results of operations. We believe that these
                         non-GAAP financial measures, in combination with the Company’s
                         financial results calculated in accordance with GAAP, provide
                         investors with additional perspective regarding the impact of such
                         charges on net income and earnings per share. We also believe that
                         these non-GAAP measures facilitate a more direct comparison of the
                         Company’s performance with its competitors. We further believe that
                         including the excluded charges would not accurately reflect the
                         underlying performance of the Company’s continuing operations for
                         the period in which the charges are incurred, even though such
                         charges may be incurred and reflected in the Company’s GAAP
                         financial results in the near future. Additionally, the non-GAAP
                         financial measures are used by management for measuring and
                         evaluating the Company’s performance. The Company further believes
                         that the items excluded from certain non-GAAP measures do not
                         accurately reflect the underlying performance of its continuing
                         operations for the periods in which they are incurred, even though
                         some of these excluded items may be incurred and reflected in the
                         Company’s GAAP financial results in the foreseeable future. The
                         material limitation associated with the use of the non-GAAP
                         financial measures is that the non-GAAP measures do not reflect the
                         full economic impact of the Company’s activities. These non-GAAP
                         measures are not prepared in accordance with GAAP, are not an
                         alternative to GAAP financial information, and may be calculated
                         differently than non-GAAP financial information disclosed by other
                         companies. Accordingly, undue reliance should not be placed on
                         non-GAAP information.
                          
(2)                      Adjustments consist of CEO succession costs of $6.71 million ($4.64
                         million after tax) incurred in connection with the settlement of a
                         dispute with our former CEO for the fiscal year ended February 29,
                         2016.
                          
(3)                      Adjustments consist of non-cash share-based compensation expense of
                         $3.8 million ($4.4 million after tax) and $15.5 million ($13.1
                         million after tax) for the three months and fiscal year ended
                         February 28, 2017, respectively, and $2.3 million ($2.0 million
                         after tax) and $8.5 million ($7.2 million after tax), for the three
                         months and fiscal year ended February 29, 2016, respectively.
                          
(4)                      Adjustments consist of non-cash intangible asset amortization
                         expense of $6.7 million ($5.7 million after tax) and $28.3 million
                         ($24.3 million after tax) for the three months and fiscal year ended
                         February 28, 2017, respectively, and $6.9 million ($6.0 million
                         after tax) and $27.8 million ($24.1 million after tax) for the three
                         months and fiscal year ended February 29, 2016, respectively.
                          
(5)                      Adjustment consists of expense of $0.7 million (before and after
                         tax) incurred in connection with the acquisition of Hydro Flask
                         during the three months and fiscal year ended February 29, 2016. The
                         acquisition subsequently closed on March 18, 2016.
                          
(6)                      Adjustment consists of currency re-measurement related charges
                         totaling $18.7 million (before and after tax) recorded during the
                         three months and fiscal year ended February 29, 2016 due to a change
                         in the rate use to re-measure our Venezuelan financial statements.
 
                                                                                                                                                       Balance at February 29, 2016
                                                                                        ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
(dollars in thousands)                                                                             Before                        Adjustments                                  After                        Location of Income
                                                                                                 Adjustment                                                                                                      Adjustment                                          Statement Impact
------------------------------------------------------------------                      --------------------------                       ------------------------------                        --------------------------------------------                        --------------------
Cash and cash equivalents                                                                                  $  1,302                                         $  (1,292 )                                           $   10                                           SG&A
Other net assets, principally working capital other than inventory                                            8,120                                            (8,284 )                                             (164 )                                         SG&A
Inventory                                                                                                     9,378                                            (9,078 )                                              300                                           Cost of goods sold
Property and equipment, net                                                                   82                            (79 )                             3                        SG&A
                                                                                        -------------------- ------                      -------------------- ------- ---                      -------------------- ---- --------------------
Net investment in Venezuelan operations                                                                    $ 18,882                                         $ (18,733 )                                           $  149  
                                                                                        ==================== ======                      ==================== ======= ===                      ==================== ==== ====================
                                                                                                                                                                                                                                                                    
(7)    Adjustments consists of patent litigation charges of $1.5 million
                          (before and after tax) for the fiscal year ended February 28, 2017,
                          and $17.8 million (before and after tax) recorded during the three
                          months and fiscal year ended February 29, 2016.
                           
(8)                       Adjustments consist of non-cash asset impairment charges of $5.0
                          million ($3.2 million after tax) and $12.4 million ($8.3 million
                          after tax) for the three months and fiscal year ended February 28,
                          2017, respectively, and $3.0 million ($2.7 million after tax) and
                          $6.0 million ($5.3 million after tax) for the fiscal year ended
                          February 29, 2016. The non-cash charges relate to certain brand
                          assets and trademarks in our Nutritional Supplements and Beauty
                          segments, which were written down to their estimated fair values,
                          determined on the basis of future discounted cash flows using the
                          relief from royalty valuation method.
                           
(9)                       The VapoSteam business was acquired on March 31, 2015 and its
                          operations are reported in the Health & Home segment. Results
                          reported for the fiscal year ended February 28, 2017 include one
                          incremental month of operating results compared to the same period
                          last year.
                           
                          The Hydro Flask business was acquired on March 18, 2016 and its
                          operations are reported in the Housewares segment. Results reported
                          for the fiscal year ended February 28, 2017 include approximately
                          eleven and a half months of operating results, with no comparable
                          results for the same period last year.
                           
(10)                      Total tax effects of adjustments described in Notes 2 through 8, for
                          each of the periods presented:
                                                                                                                                             
                                                                                             Three Months Ended the Last                                                                          Fiscal Years Ended the Last
                                                                                                   Day of February                                                                                      Day of February
                                                                   --------------------------------------------------------------------------                          ---------------------------------------------------------------------------
(In thousands)                                                                             2017                                              2016                                               2017                                              2016
---------------------------------------------                      -----------------------------                     -----------------------------                     ------------------------------                     -----------------------------
 CEO succession costs (2)                                                             $       -                                         $       -                                         $        -                                         $ (2,062)
 Non-cash share-based compensation (3)                                                      524                                             (295)                                            (2,396)                                           (1,284)
 Amortization of intangible assets (4)                                                    (965)                                             (935)                                            (3,970)                                           (3,710)
 Acquisition-related expenses (5)                                                             -                                               (2)                                                  -                                               (2)
 Venezuela re-measurement related charges (6)                                                 -                                                 -                                                  -                                                 -
 Patent litigation charge (7)                                                                 -                                              (45)                                                (4)                                              (45)
 Asset impairment charges (8)                                        (1,802)                          (344)                         (4,105)                          (688)
                                                                   -------------------- -------                      -------------------- -------                      -------------------- --------                      -------------------- -------
  Total                                                                               $ (2,243)                                         $ (1,621)                                         $ (10,475)                                         $ (7,791)
                                                                   ==================== =======                      ==================== =======                      ==================== ========                      ==================== =======

(11) The diluted EPS outlook is based on an estimated weighted average shares outstanding of 27.4 million for fiscal year 2018.

http://cts.businesswire.com/ct/CT?id=bwnews&sty=20170427006652r1&sid=cmtx6&distro=nx&lang=en

View source version on businesswire.com: http://www.businesswire.com/news/home/20170427006652/en/

SOURCE: Helen of Troy Limited

Investor: 
Helen of Troy Limited 
Anne Rakunas, (915) 225-4841 
Director, External Communications 
or 
ICR, Inc. 
Allison Malkin, (203) 682-8200


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