Water Pik Expects Profits Will Be Lower This Year

Water Pik Technologies Inc. said Tuesday that its earnings this year will be 15 cents to 20 cents a share lower because of lower sales in its personal health care division.

The Newport Beach maker of personal health care products, pool products and heating systems said in a press release that it expects earnings for the year to be about $1 to $1.05 a share, below its previous expectation of $1.20 a share.

Water Pik said fourth-quarter earnings should be 45 cents to 50 cents a share, compared with 45 cents a share on a pro forma basis in the year-ago fourth quarter. Pro forma figures assume the company, which was spun off from Allegheny Teledyne, was independent.

Water Pik said a difficult retail environment has hurt the personal health care segment.

The company outlook is for little sales growth in the first half of next year, followed by accelerated growth in the second half.

Water Pik predicts that new product development will help the company achieve “mid-teens growth in operating profit” next year and higher growth the following year.

The company said it intends to introduce 20 to 30 new consumer products to the market every six months starting in the second half of next year.

The company’s release came after the close of trading on the New York Stock Exchange. Water Pik’s stock gained 13 cents to close at $8.69 a share.