Electric housewares producer Jarden Corporation (Rye, New York, U.S.) said that, for the quarter ended March 31, 2007, net sales increased 4 percent to U.S. $821 million compared to $792 million for the same period in the prior year. Net income was $1.4 million, or $0.02 per diluted share, for the quarter, compared to $5.7 million, or $0.09 per diluted share, in the first quarter of 2006.
"Our strong positive momentum continued from 2006 into the first quarter, as demonstrated by the growth in sales and segment earnings reported today, as well as a significant improvement in year over year cash flow from operations," said Martin E. Franklin, chairman and CEO. "While we performed well across the entire company, I am particularly pleased with the expansion of gross margins as demonstrated by the 100 basis point improvement this quarter compared to the same period in 2006."
Franklin continued, "The healthy momentum in our segments, despite continued pressure in supply chain costs and concerns about the consumer, continued through the quarter."
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