Spectrum Brands 2Q Appliance Sales Up 3.8% May 14, 2012

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Small appliance maker Spectrum Brands Holdings, Inc. reported that net sales increased 8% to $746.3 million in the second quarter of its fiscal 2012 compared to $693.9 million in 2Q 2011. The company's operating income grew 17% to $55.2 million, up from $47.1 million.

The Global Batteries & Appliances business segment reported fiscal 2012 second-quarter net sales of $480.1 million, an increase of 4.5% from $459.4 million in 2Q 2011. The segment reported higher revenue in all three of its categories: global batteries, global personal care products, and small electrical appliances.

The small electrical appliances product category of the Global Batteries & Appliances segment reported 2Q 2012 net sales of $159.4 million, an increase of 3.8% from $153.6 million in 2Q 2011. Higher net sales were seen in all geographic regions: North America, Europe, and Latin America

"With the improved second-quarter results reported today, we remain on target to deliver another year of growth and shareholder value creation in fiscal 2012," said Dave Lumley, CEO.

The company operates in three business segments: Global Batteries & Appliances, Global Pet Supplies, and Home and Garden Business.

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