 Revenue was 229.4 Million in First Quarter Fiscal 2021, Down 0.6 from Prior Year Q1 Excluding Unfavorable Foreign Currency Diluted EPS of 0.86 in First Quarter Fiscal 2021, up 32 from Prior Year Q1 Generated Cash from Operations of 75.2 Million and Non-GAAP Free Cash Flow of 72.6 Million in First Quarter Fiscal 2021TARRYTOWN, N.Y., Aug. 06, 2020 GLOBE NEWSWIRE -- Prestige Consumer Healthcare Inc. NYSE:PBH today reported financial results for its first quarter ended June 30, 2020.We are pleased with our results for the first quarter which included solid earnings and record free cash flow. We also delivered a stable revenue performance, despite the pandemic, led by the fast-growing eCommerce channel where our investments over the last several years are providing accelerating benefits. Even in an environment where peoples lifestyles, activities and routines have been disrupted by the COVID-19 pandemic, consumers continue to turn to our portfolio of trusted brands, said Ron Lombardi, Chief Executive Officer of Prestige Consumer Healthcare.Our solid start to the year is a testament to our Companys strong brand positioning and strategic ability to navigate this unique and uncertain business environment. We are protecting the health safety of our workforce, partners and community all while continuing to execute our time-tested brand-building strategy and maintaining our leading financial profile, Mr. Lombardi concluded.First Fiscal Quarter Ended June 30, 2020Reported revenues in the first quarter of fiscal 2021 decreased 1.2 to 229.4 million, compared to 232.2 million in the first quarter of fiscal 2020. Revenues decreased 0.6 excluding the impact of foreign currency. The revenue performance for the quarter was driven by stable consumption across the majority of the Companys portfolio and a benefit associated with higher retailer order patterns to refill customers supply chains. This was partially offset by reduced consumption for certain brands where the category has been impacted by the COVID-19 virus.Reported net income for the first quarter of fiscal 2021 totaled 43.7 million versus the prior year comparable quarters net income of 33.9 million. Diluted earnings per share of 0.86 for the first quarter of fiscal 2021 compared to 0.65 in the prior year comparable period.Free Cash Flow and Balance SheetThe Companys net cash provided by operating activities for first quarter fiscal 2021 was 75.2 million compared to 52.8 million during the prior year. Non-GAAP free cash flow in first quarter fiscal 2021 was 72.6 million compared to 50.8 million in the prior year. The Companys business experienced continued strong cash conversion from its leading financial profile.The Companys net debt position as of June 30, 2020 was approximately 1.6 billion and at the end of the first quarter fiscal 2021 the Companys covenant-defined leverage ratio was 4.4x. During the quarter the Company lowered debt outstanding by 111 million as it continued to maintain focus on debt reduction.Segment ReviewNorth American OTC Healthcare: Segment revenues totaled 210.7 million for the first quarter of fiscal 2021, compared to the prior year comparable quarters revenues of 210.8 million. The first quarter fiscal 2021 revenue performance was impacted by a reduction in consumption for certain brands where the category consumption levels have been impacted by the COVID-19 virus, largely offset by a benefit associated with higher retailer order patterns to refill customers supply chains.International OTC Healthcare: Segment fiscal first quarter 2021 revenues totaled 18.7 million, compared to 21.4 million reported in the prior year comparable period. Revenues versus the prior year were impacted by reduced consumption for certain brands impacted by the COVID-19 virus as well as unfavorable foreign currency of approximately 1 million, partially offset by a benefit associated with higher retailer order patterns to refill customers supply chains.Commentary and Outlook for Fiscal 2021Ron Lombardi, Chief Executive Officer, stated, We delivered a strong start to the fiscal year, which included first quarter revenues better than anticipated owing to strength from our ongoing brand-building efforts and significant growth in eCommerce channel sales stemming from our long-term investments. The first quarter also experienced strong earnings and free cash flow that were driven by strong EBITDA and the benefit of our disciplined capital allocation strategy over the last year. We reduced debt by 111 million in the first quarter, which resulted in 4.4x leverage, close to the mid-point of our targeted long-term leverage range.As we look forward in the near-term we anticipate revenues in Q2 of 225 million or more. This outlook is driven by continued changes in consumer behaviors and disruptions in certain channels stemming from the COVID-19 virus, which has affected demand in certain categories that we compete in. Despite these challenges, we remain focused on brand-building and maintaining or growing market share across our portfolio of core brands, many of which have unique opportunities for investment in the current environment. Meanwhile, we anticipate Q2 EPS of 0.70 or more, an increase from the prior year, thanks to our disciplined cost management, leading financial profile and benefits of our capital allocation strategy he continued.We continue to refrain from offering full-year guidance given the uncertainties ahead, but we are confident in our sound Company and business strategy that positions us well to withstand these challenges as evidenced in our results announced today. Our leading brand-building efforts, financial profile and disciplined capital allocation approach will enable us to focus on long-term top- and bottom-line growth prospects that position us for continued success, he concluded.Fiscal First Quarter 2021 Conference Call, Accompanying Slide Presentation and Replay The Company will host a conference call to review its first quarter results today, August 6, 2020 at 8:30 a.m. ET. The toll-free dial-in numbers are 844-233-9440 for the U.S. Canada and 574-990-1016 internationally. The conference ID number is 4482198. The Company provides a live Internet webcast, a slide presentation to accompany the call, as well as an archived replay, all of which can be accessed from the Investor Relations page of the Companys website at The slide presentation can be accessed from the Investor Relations page of the website by clicking on Webcasts and Presentations.Telephonic replays will be available for approximately one week following the completion of the call and can be accessed at 855-859-2056 within North America and at 404-537-3406 from outside North America. The conference ID is 4482198.Non-GAAP and Other Financial Information In addition to financial results reported in accordance with generally accepted accounting principles GAAP, we have provided certain non-GAAP financial information in this release to aid investors in understanding the Companys performance. Each non-GAAP financial measure is defined and reconciled to its most closely related GAAP financial measure in the About Non-GAAP Financial Measures section at the end of this earnings release.Note Regarding Forward-Looking Statements This news release contains forward-looking statements within the meaning of the federal securities laws that are intended to qualify for the Safe Harbor from liability established by the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by the use of forward-looking terminology such as target, guidance, strategy, outlook, plans, projection, focus, may, will, would, expect, anticipate, believe, positions, enables, or continue or the negative or other derivatives of each of these terms or similar terminology. The forward-looking statements include, without limitation, statements regarding the Companys expectations regarding its ability to withstand challenges from the COVID-19 outbreak including its ability to protect the health and safety of employees, partners and community and its ability to adapt to a changing business environment, future operating results including revenues, the Companys ability to execute on its brand-building strategy, maintain a leading financial profile, and maintain or grow market share, and the Companys ability to position itself for continued success. These statements are based on managements estimates and assumptions with respect to future events and financial performance and are believed to be reasonable, though are inherently uncertain and difficult to predict. Actual results could differ materially from those expected as a result of a variety of factors, including the impact of the COVID-19 pandemic and business and economic conditions, the impact of the Companys advertising and promotional and new product development initiatives, customer inventory management initiatives, fluctuating foreign exchange rates, competitive pressures, and the ability of the Companys third party manufacturers and logistics providers and suppliers to meet demand for its products and to reduce costs. A discussion of other factors that could cause results to vary is included in the Companys Annual Report on Form 10-K for the year ended March 31, 2020 and other periodic reports filed with the Securities and Exchange Commission.About Prestige Consumer Healthcare Inc. The Company markets and distributes brand name over-the-counter healthcare products throughout the U.S. and Canada, Australia, and in certain other international markets. 