Outdoor financials: With acquisitions, Jarden’s Q4 net sales jump 21 percent

Jarden reported record fourth-quarter sales, up 21 percent mostly due to acquisitions, and also beat its expectations on organic growth, excluding the acquisitions, with a 7 percent increase in net sales for the quarter and the full year.
Author:
Publish date:

With acquisitions, Jarden’s Q4 net sales jump 21 percent

Jarden (NYSE: JAH) reported record sales for the fourth quarter and full-year 2010 figures, attributing the growth to recent acquisitions, but organic growth as well.

The parent company of K2, Marker, Marmot, Coleman and Volkl reported net sales of $1.68 billion for the fourth quarter 2010, up 21 percent from $1.4 billion a year ago. Full-year 2010 net sales rose 17 percent to $6 billion, compared to $5.2 billion in 2009.

The record growth included several recent acquisitions, including Coleman’s October 2010 purchase of Aero Products International, makers of Aerobed air-filled mattresses.

Excluding the impacts of acquisitions and foreign exchange, Jarden officials said organic net sales growth was about 7 percent for both the fourth quarter and full-year results, which beat company expectations of 3 percent to 5 percent growth.

Jarden’s net income for the fourth quarter ended Dec. 31 was $46.7 million, or $0.52 a share, compared with $1.2 million, or $0.01 per share, last year. Excluding special items, Jarden said it earned $0.86 a share.

For full-year 2010, net income was $107 million, or $1.19 per diluted share, compared to net income of $129 million, or $1.52 per diluted share, in 2009.

Shares closed at $34.35, down $0.13, or 0.38 percent, on Feb. 16.



--Compiled by David Clucas

For more information about any public company on this page or its financial reports, as well as to view stock prices updated every 15 minutes, visit the SNEWS® Stock Market Updates. Click on: www.snewsnet.com/cgi-bin/snews/stock_report.html.

Related