Spectrum Brands Reconfirms Guidance Jul 11, 2011

Printable format  Email this Article  Search

Appliance maker Spectrum Brands Holdings, Inc. (Madison, WI, U.S.) reiterated on July 11, 2011, its fiscal 2011 expectations to deliver an increase in adjusted EBITDA to between $455 million and $465 million with free cash flow improving to between $155 million and $165 million. Spectrum said it remained on track to deliver a cumulative debt reduction on its original $750 million senior secured term loan of at least $200 million by the end of fiscal 2011, with $90 million of voluntary prepayments already made to date for a current term loan balance of $658 million. Spectrum said it now expects fiscal 2011 net sales growth in the range of 1.5 to 2.5%. The revised net sales forecast is primarily due to challenges in the retail marketplace.

Back to Daily News