Jarden Corporation said net sales at its Outdoor Solutions segment reached $707.3 million for the three months ended Sept. 30, 2011, up 17.0 percent from $604.7 million reported for the third quarter of 2010s.
Jarden, which also makes household appliances through its Consumer Solutions and household products through its Branded Consumables segment, reported total net sales for the quarter increased 11% to $1.8 billion compared to $1.6 billion for the same period in the previous year.
“Jarden delivered a very strong third quarter, achieving net sales growth of 11%, including overall organic net sales growth in excess of 5%, which in turn led to record earnings,” said Martin E. Franklin, Executive Chairman. “This robust organic growth was driven by exceptional performance across the board in our Outdoor Solutions segment and strong sales in the Branded Consumables segment, particularly at Jarden Home and Family.”
The quarter completed Jarden's first decade on a high note, a period during which it became a Fortune 500 company and ranked as the best performing consumer stock.
JARDEN CORPORATION NET SALES AND OPERATING EARNINGS BY SEGMENT (Unaudited) (in millions) | |||||||||||||||||||||||||
Outdoor Solutions | Consumer Solutions | Branded Consumables | Process Solutions | Intercompany Eliminations (a) | Total Operating Segments | Corporate/ Unallocated | Consolidated | ||||||||||||||||||
Three months ended September 30, 2011 | |||||||||||||||||||||||||
Net sales | $ | 707.3 | $ | 522.4 | $ | 477.8 | $ | 92.4 | $ | (15.2) | $ | 1,784.7 | $ | — | $ | 1,784.7 | |||||||||
Segment earnings (loss) | $ | 104.6 | $ | 74.7 | $ | 76.2 | $ | 7.7 | $ | — | $ | 263.2 | $ | (23.9) | $ | 239.3 | |||||||||
Adjustments to reconcile to reported operating earnings(loss): | |||||||||||||||||||||||||
Fair value adjustment to inventory | — | — | (1.6) |
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