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Small appliance maker Jarden Corporation, known for its Mr. Coffee(R), Oster(R), Sunbeam(R), and VillaWare(R) brands, reported net sales for the 3-month period ended March 31, 2005 increased 229 percent to U.S. $521.3 million compared to $158.3 million for the same quarter last year.
On an as adjusted, non-GAAP basis, first quarter net income increased 110 percent to $15.8 million, compared to net income of $7.5 million for the same quarter last year. On a GAAP basis, the first quarter 2005 net income was breakeven.
"We are extremely pleased by the overall performance of our business units during the first quarter, particularly as we worked to integrate the American Household acquisition," Martin E. Franklin, chairman and CEO, said. "A healthy performance in our Outdoor Solutions segment, whose seasonality favors the first and second quarters, helped Jarden exceed its operating targets as a whole for the first quarter."
The company says it plans to focus on developing new products, plan initiatives, and further identify acquisition opportunities in 2006.
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