Jacuzzi Brands, Inc. reported preliminary results for fiscal 2004 and financial guidance for fiscal 2005:
The whirlpool bath manufacturer said that for its fiscal year ended Oct. 2, 2004, it expects to report total net sales of approximately U.S. $1.35 billion, an approximate 13.4-percent increase from total net sales of $1.19 billion in fiscal 2003. Although still subject to the completion of the year-end audit, the company expects to report full year diluted earnings per share from continuing operations of $0.38, which includes previously announced restructuring charges of $0.18 per share. Excluding those charges, it expects to report $0.56 per diluted share in earnings from continuing operations.
Jacuzzi is scheduled to issue financial results for the fourth quarter and fiscal year ended Oct. 2, 2004 on Dec. 9, 2004.
The company also said it expects to report net earnings for its 2005 fiscal year (ending Sept. 30, 2005) of between $0.67 per diluted share and $0.71 per diluted share, before restructuring charges of $0.06 per diluted share related to plant closings and other actions initiated during fiscal 2004, or $0.61 to $0.65 per diluted share including these restructuring charges.
"We continue to be encouraged by the progress we have been making in all three of our businesses," David H. Clarke, chairman and CEO of Jacuzzi Brands, Inc., stated. "Commodity price increases have posed many challenges for us as well as for the entire manufacturing sector. We have been taking steps to overcome these challenges by working diligently with our suppliers and customers and adjusting our own cost structure to counteract these destabilizing influences and remain cost competitive."
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