Outdoor financials: Outdoor products lead to Jarden’s 1Q sales growth, profit; plus Rocky Brands earnings
Jarden Corp.’s (NYSE:JAH) outdoor product segment, including Marmot, K2 and Coleman brands, led the company’s organic revenue growth and helped it swing to a profit in the first quarter.
The Rye, N.Y. –based consumer product company reported first-quarter 2011 sales up 25 percent to $1.5 billion, compared to $1.2 billion during the same period a year ago.
The growth was mostly due to recent acquisitions, such as the Aero brand, which helped boost the company’s Outdoor Solutions segment by 10.3 percent to $677.5 million, from a year ago.
Minus those acquisitions, organic revenue grew 3.3 percent in the first quarter, led by 6-percent organic growth in the company’s Outdoor Solutions segment.
For the quarter ended March 31, 2011, Jarden swung to a profit of $19 million, or $0.21 per diluted share, compared to a net loss of 59 million, or a loss of $0.66 per diluted share, during the same period a year ago.
Rocky Brands sees sales down on military, but profit up on outdoor footwear
Rocky Brands Inc. (Nasdaq: RCKY) swung to a profit in the first quarter, but reported lower sales due to a decline in military footwear demand.
The Nelsonville, Ohio-based footwear company, which owns the Rocky, Georgia Boot and Durango brands, saw its first-quarter 2011 revenue drop nearly 7 percent to $52.3 million, compared to $56.1 million during the same period a year ago.
Rocky Brands’ first-quarter 2011 net-income improved to $500,000, or $0.07 per diluted share, versus a net loss of $600,000, or a loss of $0.10 per diluted share, during the first quarter 2010.
CEO Mike Brooks said the company was able to offset the decline in military sales and swing to a profit due to better retail sales of its hunting and work footwear, via higher prices and better margins through web-based transactions.
Inventory at Rocky Brands grew 16.1 percent to $61.7 million at the end of the first quarter, March 31, 2011, compared to a year ago, but officials said the rise was the result of lower than desired inventory a year ago due to supply constraints.
Compiled by David Clucas
