Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Rayovac Includes Microlite Acquisition in Pro Forma Results
Aug 13, 2004
 Printable format
 Email this Article
 Search

Personal care appliance and battery maker Rayovac included information reflecting the pro forma results of operations from the Microlite business in its results for the quarter ended June 27, 2004. Microlite, who owns the Rayovac brand in Brazil, had been included in Rayovac's consolidated results beginning after Sept. 30, 2002.

Microlite's pro forma results reflect the historical results of the Microlite business prior to the acquisition and do not take into consideration other changes occurring afterwards. The charges include interest expense which will be reduced as a result of Rayovac's recapitalization of assumed debt and lowered interest rates.

In addition to the one-time cost savings, Rayovac says it has taken actions to improve the operating results of the Microlite business, including installing a new general manager, rationalzing Microlite's product line, discontinuing certain low margin products, announcing price increases across all battery product lines, and implementing improvements that the company expects will generate manufacturing efficiencies and savings.

The company also announced Microlite's manufacturing facilities will support Rayovac's current business throughout the South American region, resulting in more efficient product sourcing with lower unit costs.

Rayovac reiterates its previous earnings guidance for fiscal years 2004 and 2005. Rayovac's net sales for the fiscal year ending September 30, 2004 are expected to be within a range of U.S. $1.35 to $1.4 billion, with pro forma diluted earnings per share of $1.78 to $1.81. In fiscal 2005, Rayovac expects diluted earnings per share of $2.05 to $2.10.

The guidance incorporates the projected financial impact of the Microlite acquisition. In fiscal 2005, Microlite is projected to generate net sales of $55 to $60 million.

Back to Daily News

 

Daily News

...........................................................

Oct 21, 2014: AHRI Annual Meeting Registration Remains Open

Oct 20, 2014: Electrolux 3Q Operating Income up 29%

Oct 17, 2014: Whirlpool completes purchase of majority interest in Indesit

Oct 17, 2014: Corrected: AHRI Annual Meeting Registration Remains Open

Oct 17, 2014: Walmart will moderate brick-and-mortar growth and increase capital spending on e-commerce capabilities

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

September 2014: Appliance Industry Focus: HVAC
June 2014: Appliance Magazine Market Insight: April 2014
May 2014: Appliance Magazine Market Insight: March 2014
April 2014: Appliance Magazine Market Insight: February 2014




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows