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Jarden Reports Record Net Sales in 2Q
Jul 29, 2014
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Consumer Solutions, the small appliance and electric housewares business segment of Jarden Corp., had second quarter 2014 net sales of $445.6 million, up from $442.5 million in 2Q 2013.

Earnings for the Consumer Solutions segment in 2Q 2014 were $55.3 million, from $61.7 million in 2Q 2013. Operating earnings were $45.6 million, from $52.6 million.

Jarden Corp. overall reported record net sales of $1.98 billion in the second quarter of 2014. Net sales for the quarter were up 12.3%, or $216 million, over $1.76 billion in the second quarter of 2013.

Organic net sales growth in 2Q 2014 was up of 3.1%, or $54.1 million, over 2Q 2013. Reported gross margin was 30.5%, from 29.2% in 2Q 2013.

Net income in 2Q 2014 was down to $52.1 million, from $76.4 million in 2Q 2013. Adjusted net income was $113.4 million, from $95.7 million in 2Q 2013.

"In the quarter, we posted positive organic growth in all segments and continued expansion in gross margins, giving us good momentum as we enter the important back half of the year," said Martin E. Franklin, Executive Chairman.

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