Jarden Outdoor Q4 Segment Earnings Fall on Flat Sales

Jarden Corp. reported operating earnings dropped 21.1 percent at its Outdoor Solutions segment on flat sales in the fourth quarter ended Dec. 31, 2013.

Net sales at the segment, which owns one of the world’s largest portfolio of sporting goods brands, reached $617.8 million during the quarter compared with $617.9 million in the fourth quarter of 2012. Segment earnings were $48.7 million, compared with $61.7 million a year earlier.

The segment reported an operating loss of $1.9 million after recording $10.3 million in reorganization costs, compared with just $3.3 million in the fourth quarter of 2012, when operating margins reached 6.7 percent. Acquisition and integration related costs were $25.1 million compared to zero a year earlier while depreciation and amortization costs dipped $2 million to $15.2 million.

Outdoor Solutions brands include Abu Garcia, AeroBed, Berkley, Campingaz and Coleman, ExOfficio, Fenwick, Greys, Gulp!, Hardy, Invicta, K2, Madshus, Marker, Marmot, Mitchell, Penn, Rawlings, Ride, Sevylor, Shakespeare, Stearns, Stren, Trilene, Volkl, Worth and Zoot.

I would like to take the opportunity to recognize the over 140 athletes from 25 different countries who are using Jarden brands, including K2, Madshus, Marker, Marmot and Völkl, on their remarkable achievement in representing their countries at the Sochi Winter Olympics," said Jarden Corp. CEO James Little.

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Source Jarden



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