Jacuzzi Brands Q1 Earnings Up 95%
Feb 10, 2006
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Whirlpool bath producer Jacuzzi Brands said sales for the first quarter fiscal 2006 ended December 31, 2005, were U.S. $267.1 million, compared to $281.5 million for the first quarter of fiscal 2005. Operating income in the first quarter of fiscal 2006 was $21.1 million compared to operating income of $20.8 million in the first quarter of fiscal 2005. Net earnings for the first quarter of fiscal 2006 rose 94.5 percent to $10.7 million, or $0.14 per share, from $5.5 million, or $0.07 per share, in the first quarter of fiscal 2005.

David H. Clarke, chairman and CEO of Jacuzzi Brands, Inc. (West Palm Beach, Florida, U.S.), stated, "We are pleased with our first quarter. The bath division is already seeing improved performance from the cost saving and other initiatives being pursued by Al Marini, president and chief operating officer, and the Jacuzzi and Sundance management teams. The outstanding growth in sales and profits at our Zurn plumbing division continues the excellent trend of last year. Although our seasonally big quarters are in front of us and our European markets are experiencing difficult conditions, we anticipate continued overall positive results for the remainder of fiscal 2006."

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