Jarden Corp. said fourth quarter 2010 net sales increased 21%, with organic net sales growth of 7%, to $1.7 billion, compared to $1.4 billion for the fourth quarter of 2009. Net income was $46.7 million compared to 4Q 2009 net income of $1.2 million.
For the year ended Dec. 31, 2010, Jarden's net sales increased 17%, with organic net sales growth of 7%, to $6.0 billion compared to $5.2 billion in 2009. Net income for the year was $107 million compared to $129 million in 2009. On a non-GAAP basis, adjusted net income was $260 million, in 2010, compared to $221 million in 2009.
The year ended December 31, 2010 includes the results from Mapa Spontex, acquired on Apr. 1, 2010.
Jarden Chairman and CEO Martin E. Franklin called 2010 an outstanding year for the company. "We reported exceptional organic growth of 7%, both for the quarter and the full year, which was well above our goal of 3-5%."
Revenue growth, 2010 acquisitions, "and our ability to leverage our operating platform to help offset macro cost increases," enabled the company to report record earnings.
Jarden has three business units: Outdoor Solutions, Consumer Solutions, and Branded Consumables. Appliance brands in the Consumer Solutions business segment include Bionaire, Crock-Pot, Mr. Coffee, Oster, Rival, and Sunbeam.
Consumer Solutions reported $617.1 million in sales in the 4Q 2010, essentially flat compared to 4Q 2009's sales of $617.5 million. Consumer Solutions' earnings for the quarter were $101.7 million, compared to $106.5 million in 4Q 2009.
Consumer Solutions' sales for full-year 2010 were $1,869.6 million, up from $1,835.9 million in 2009. Earnings were $266.2 million in 2010 and were $280.5 million in 2009.
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