Personal care and electric housewares maker Jarden Corporation reported second-quarter net sales for the period ended June 30, 2005 increased 279 percent to U.S. $754 million compared to $199 million for the same period last year.
Net income for the second quarter increased by 104 percent to $32.8 million from $16 million for the same period last year. Income allocable to common stockholders for the second quarter was $5.7 million, or $0.12 per diluted share, compared to $0.38 per diluted share in the prior-year period.
Current year amounts include the results of operations from the American Household and the United States Playing Cards businesses, which were acquired in January 2005 and June 2004, respectively.
For the 6-month period ended June 30, 2005, net sales increased 257 percent to $1.3 billion compared to $357 million for the same period last year. Net income increased 39.4 percent to $32.8 million from $23.6 million in 2004.
"Our strong performance in the first half of the year has positioned Jarden for a successful second half, where we will continue to focus on introducing new products, expanding our margins, and generating record levels of cash flow from operations," Martin E. Franklin, chairman and CEO, said. "In addition to the momentum we built during the second quarter, we will have the benefit of the Holmes Group acquisition from July 18, 2005, including not only its earnings and cash flow, but also the synergistic opportunities it brings to our Consumer Solutions segment this year and beyond."
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