Energizer Holdings Inc. announced an increase in total revenue but a net income fall of nearly 19 percent to $85.2 million, or $1.36 per share, in its fourth quarter earnings report. The Town and Country-based company, in the process of spinning off its struggling battery business, said it expects no organic sales growth due to falling demand for its Energizer and Eveready batteries. Restructuring and spinoff costs were blamed for the drop in income.
Energizer plans to separate its household products business, which includes its disposable batteries, from its personal care brands such as Schick razors effective July 1. Sales of its household products have been falling since Wal-Mart Stores Inc.’s warehouse chain Sam’s Club and discount store chain Family Dollar Stores Inc. ended contracts about a year ago.