Revenue during the quarter went down marginally by 2.04 percent to $485 million from $495.10 million in the previous year period. Gross margin for the quarter expanded 106 basis points over the previous year period to 47.01 percent. Total expenses were 87.55 percent of quarterly revenues, down from 90.71 percent for the same period last year. This has led to an improvement of 316 basis points in operating margin to 12.45 percent.

Operating income for the quarter was $60.40 million, compared with $46 million in the previous year period.

However, the adjusted operating income for the quarter stood at $67.60 million compared to $72 million in the prior year period. At the same time, adjusted operating margin contracted 60 basis points in the quarter to 13.94 percent from 14.54 percent in the last year period.

"The fiscal first quarter was a solid start to the year. We are competing well in Wet Shave and Sun and Skin Care and we are making progress on our Zero Based Spending initiative," said David Hatfield, Edgewell's chief executive officer, president and chairman of the Board. "We are particularly encouraged by our Wet Shave performance, as we grew manual shave share globally, and grew both sales and share in North America, driven by our core strategies of innovation and portfolio expansion. However, the competitive environment remains intense and like many other companies, we are facing increased macro-economic uncertainty, including additional headwinds from the strengthening US dollar. Despite these challenges, we remain on track to achieve our full year targets and deliver enhanced shareholder value by leveraging our strong innovation pipeline, and focusing on improving operating margins."

For financial year 2017, Edgewell Personal Care Company projects diluted earnings per share to be in the range of $3.60 to $3.80. It projects diluted earnings per share to be in the range of $3.80 to $4 on adjusted basis for the same period.

The company has spent $47.70 million cash to meet investing activities during the quarter as against cash outgo of $14.50 million in the last year period.

The company has spent $199.40 million cash to carry out financing activities during the quarter as against cash inflow of $63.70 million in the last year period.

Cash and cash equivalents stood at $418.50 million as on Dec. 31, 2016, down 39.71 percent or $275.70 million from $694.20 million on Dec. 31, 2015.

Working capital drops significantly
Edgewell Personal Care Company has witnessed a decline in the working capital over the last year. It stood at $664.30 million as at Dec. 31, 2016, down 30.28 percent or $288.50 million from $952.80 million on Dec. 31, 2015. Current ratio was at 2.40 as on Dec. 31, 2016, down from 2.86 on Dec. 31, 2015.

Cash conversion cycle (CCC) has decreased to 34 days for the quarter from 90 days for the last year period. Days sales outstanding were almost stable at 48 days for the quarter, when compared with the last year period.

Days inventory outstanding has decreased to 61 days for the quarter compared with 118 days for the previous year period. At the same time, days payable outstanding went down to 75 days for the quarter from 77 for the same period last year.