Jarden Corp. reported revenues at its Outdoor Solutions segment, which owns Coleman, K2, Marmot and 24 other sporting goods brands, increased $8.5 million, or 1.3 percent to $679.1 million in the third quarter ended Sept. 30 from a the year earlier quarter.
Segment earnings declined by $2 million, or 2.2 percent, to 12.9 percent of revenues, compared with 13.4 percent of revenue a year earlier. Segment operating earnings and margins were essentially flat at $66.4 million, or 9.8 percent.
Jarden Outdoor Solutions owns one of the largest portfolios of sporting goods brands in the world, including: 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.
|
JARDEN CORPORATION NET SALES AND OPERATING EARNINGS BY SEGMENT (Unaudited) (in millions)
|
||||||||||||||||||
|
Branded Consumables |
Consumer Solutions |
Outdoor Solutions |
Process Solutions |
Intercompany Elimination (a) |
Total Operating Segments |
Corporate/ |
Consolidated |
|||||||||||
|
Three months ended September 30, 2014 |
||||||||||||||||||
|
Net sales |
$ 768.0 |
$ 612.4 |
$ 679.1 |
$ 104.9 |
$ (22.2) |
$ 2,142.2 |
$ – |
$ 2,142.2 |
||||||||||
|
Segment earnings (loss) |
$ 135.1 |
$ 98.1 |
$ 87.7 |
$ 11.8 |
$ – |
$ 332.7 |
$ (24.3) |
$ 308.4 |
||||||||||
|
Adjustments to reconcile to reported |
||||||||||||||||||
|
operating earnings (loss): |
||||||||||||||||||
|
Fair market value adjustment to inventory |
(1.5) |
(10.8) |
– |
– |
– |
(12.3) |
– |
(12.3) |
||||||||||
|
Restructuring costs, net |
– |
(0.5) |
– |
– |
– |
(0.5) |
– |
(0.5) |
||||||||||
|
Acquisition-related and other costs |
(2.7) |
(0.1) |
(7.1) |
– |
– |
(9.9) |
(4.2) |
(14.1) |
||||||||||
|
Foreign exchange-related charges (b) |
– |
– |
– |
– |
– |
– |
(3.3) |
(3.3) |
||||||||||
|
Depreciation and amortization |
(21.9) |
(8.0) |
(14.2) |
(2.7) |
– |
(46.8) |
(1.3) |
(48.1) |
||||||||||
|
Operating earnings (loss) |
$ 109.0 |
$ 78.7 |
$ 66.4 |
$ 9.1 |
$ – |
$ 263.2 |
$ (33.1) |
$ 230.1 |
||||||||||
|
Branded Consumables |
Consumer Solutions |
Outdoor Solutions |
Process Solutions |
|||||||||||||||
