Jarden profit triples
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- May
- 8
Jarden Corp., the consumer products company based in Rye, said this morning its first-quarter profit more than tripled to $4.7 million or 6 cents a share.
A year earlier, the company earned $1.4 million, or 2 cents a share.
The company, which markets Rawlings sporting goods, Mr. Coffee machines and Coleman camping equipment, also reported its results on a basis that does not comply with general accepted accounting principles. On that basis, Jarden’s adjusted net income was $16.5 million, or 22 cents a share, compared with $17.1 million, or 24 cents a share, last year.
“While the first quarter is traditionally Jarden’s seasonally smallest quarter, our performance was in line with our expectations and a good start to achieving our full-year outlook,” Martin E. Franklin, the company’s chairman and chief executive, said in a statement.
He said the poor economy is hurting consumer confidence and retail sales, but the company’s Outdoor Solutions segment still grew its sales by 3.6 percent on a comparable basis.
This entry was posted
on Thursday, May 8th, 2008 at 7:49 am by Allan Drury.
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