Outdoor financials: ‘Exceptional performance’ from outdoor brands boosts Jarden in 3Q; plus Rocky and LaCrosse earnings

Marmot, K2 and Coleman helped lead the way for their parent company Jarden to report higher revenue and profit for the third quarter 2011. Meanwhile, boot manufacturers Rocky and Lacrosse both reported mixed earnings with decreased sales but higher profits.
Author:
Publish date:

Jarden Corp. (NYSE:JAH) reported higher revenue and profit for the third quarter 2011 as its outdoor brands – including Marmot, K2, Coleman, ExOfficio and Volkl – continued to lead the way.

The Rye, N.Y.-based diversified outdoor and consumer products company reported revenue up 11 percent to $1.8 billion in the third quarter, compared to $1.6 billion for same period a year ago. Organic revenue growth, excluding the company’s recent acquisitions, came in at 5 percent.

Jarden’s net income rose 12.5 percent to $90.7 million, or $1.03 per diluted share, versus a net income of $80.6 million, or $0.90 per diluted share a year ago.

Jarden Executive Chairman Martin E. Franklin said the company’s growth was led “by exceptional performance across the board” from its outdoor brands. The Outdoor Solutions group outpaced overall company performance – recording quarterly revenue growth of nearly 17 percent to $707.3 million and 22 percent growth in operating net income to $83.7 million.

Rocky 3Q revenue down, but profit up

Rocky Brands (Nasdaq: RCKY) reported lower revenue, but higher profit for the third quarter 2011.

The Nelsonville, Ohio-based outdoor and military footwear company reported quarterly revenue of $71 million – down 5 percent on decreased military and retail sales. Despite the sales decline, net income for Rocky improved to $5.2 million, or $0.70 per diluted share, versus a net income of $4.7 million, or $0.63 per diluted share a year ago.

Company officials said sales produced mixed results – for example its wholesale business was up, including Western U.S. sales rising 11 percent on higher demand of its Durango and Rocky branded product. The company’s hunting category was also up on gains of its Georgia Boot brand.

LaCrosse 3Q sales drop, outdoor footwear stable

LaCrosse Footwear (Nasdaq: BOOT) reported lower revenue for the third quarter 2011, even though its outdoor group sales eked out a small gain.

The Portland, Ore.-based outdoor, military and work footwear company, including the Danner brand, reported a third-quarter revenue of $35.3 million – down 6.4 percent from a year ago. Company officials said the decline was due to fewer military sales and its decision to discontinue its work apparel products.

Within those figures, LaCrosse’s third-quarter outdoor revenue was up 1 percent to $19.2 million, versus a year ago, driven by an increase of hiking and cold weather products, company officials said.

LaCrosse reported a quarterly increase in net income to $1.7 million, or $0.25 per diluted share, versus a net income of $1.1 million or $0.17 per diluted share.

Despite the lackluster quarterly revenues, LaCrosse officials said they were upbeat, pointing to the company’s stronger profit margins and the previously announced $15.4 million delivery order from the U.S. Marine Corps, which will be fulfilled during the next two quarters.

--Compiled by David Clucas

Related