Jarden Reports Record First Quarter 2011 Results
Apr 28, 2011
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Small appliance maker Jarden Corp. said growth in all its business segments drove record sales and profits in the first quarter of 2011. Net sales increased 25% to $1.5 billion compared to $1.2 billion in the first quarter of 2010. Organic sales increased 3%.
For the quarter ended Mar. 31, 2011, Jarden recorded net income of $19.0 million, compared to a net loss of $59.0 million for the same period in 2010.
On a non-GAAP basis, adjusted net income for the quarter ended March 31, 2011 was $35.4 million, compared to $22.3 million the year before.
Net sales in Consumer Solutions, Jarden's small appliance business unit, was $346.8 million, up from $337.4 million in the first quarter of 2010. Operating earnings were $39.4 million, compared to $39.2 million in the first quarter of 2011.
Appliance brands in the Jarden Consumer Solutions business segment include:
• Health o meter
• Mr. Coffee
• White Mountain
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