Jarden Appliance Segment Sales Top $1.94 Billion in 2012
Feb 21, 2013
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Jarden Corp.--maker of appliances under Sunbeam, Rival, Mr. Coffee, and other brand names--increased organic net sales 3.5% in the fourth quarter of 2012. Net sales were $1.82 billion, up from $1.74 billion in the fourth quarter of 2011. Gross margin was 27.9%, compared to gross margin of 26.6% in 4Q 2011. Net income was up 131% to $48.7 million, from $21.1 million in 4Q 2011.
For full-year 2012, Jarden's organic net sales grew 2.0%. Net sales were $6.70 billion, from $6.68 billion in 2011. Gross margin was 28.7%, compared to 27.8% in 2011. Net income increased 19% to $243.9 million, from $204.7 million in 2011.
Jarden's Consumer Solutions business segment, which markets numerous appliance brands, had 2012 net sales of $1.941 billion, up from $1.880 billion in 2011. Segment earnings were $285,900,000, from $274,700,000 in 2011. Operating earnings were $232,300,000, from $236,700,000 in 2011.
"During 2012, Jarden once again delivered record revenues, segment earnings and adjusted earnings per share and finished the year with a record level of cash," said Executive Chairman Martin E. Franklin. "We are also proud to have been among the top five performing stocks compared to the S&P 500 Consumer Staples Index for 2012 on a one-, five- and ten-year basis."
CEO James E. Lillie said, "Organic growth across all of our business segments for the fourth quarter has once again validated the strength of our diversified business model. We are excited about the outlook for 2013 and beyond, as the investments we have made over the last several years lay the foundation for long-term future success."
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