Coleman Parent Adjusted Income Climbs on 4% Sales Gain

Jarden Corporation's first quarter net sales increased 4% to $821 million compared to $792 million for the same period in the prior year. Net income was $1.4 million, or two cents per diluted share, for the quarter, compared to $5.7 million, or nine cents per diluted share, in Q1 2006. On a non-GAAP basis, adjusted net income was $21.4 million, or 30 cents per diluted share for Q1 2007, an increase of 25% from $16.1 million, or 24 cents per diluted share, in Q1 2006.

Martin E. Franklin, chairman and CEO commented; “Our strong positive momentum continued from 2006 into the first quarter, as demonstrated by the growth in sales and segment earnings reported today, as well as a significant improvement in year over year cash flow from operations. Our strategy of building a world class, market leading, diversified consumer products company based on our people, products and brands continues to yield results. While we performed well across the entire company, I am particularly pleased with the expansion of gross margins as demonstrated by the 100 basis point improvement this quarter compared to the same period in 2006.”

Mr. Franklin continued, “The healthy momentum in our segments, despite continued pressure in supply chain costs and concerns about the consumer, continued through the quarter. While it is still early in the year, this forward progress coupled with the recent acquisition of Pure Fishing positions us well for the balance of the year, and I believe that we are on track to achieve our long-term financial goals.”

    JARDEN CORPORATION
    CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited)
    (in millions, except earnings per share)

                                    Three month period ended
                            March 31, 2007             March 31, 2006
                                                                         As
                                           As                         Adjusted
                        As              Adjusted      As      Adjust-  (non-
                     Reported  Adjust- (non-GAAP)  Reported    ments    GAAP)
                      (GAAP)   ments(1)  (1)(2)     (GAAP)      (1)     (1)(2)

    Net sales         $820.9     $--     $820.9     $791.7      $--    $791.7

    Cost of sales      619.6      --      619.6      606.0     (0.3)    605.7
    Gross profit       201.3      --      201.3      185.7      0.3     186.0
    Selling,
     general and
     administrative
     expenses          151.2    (8.5)     142.7      141.8     (6.7)    135.1
    Reorganization
     and acquisi-
     tion-related
     integration
     costs, net          9.1    (9.1)        --        9.4     (9.4)       --
    Operating earnings  41.0    17.6       58.6       34.5     16.4      50.9
    Interest expense,
     net                25.0      --       25.0       25.6       --      25.6
    Loss on early
     extinguishment
     of debt            14.8   (14.8)        --         --       --        --
    Income before
     taxes               1.2    32.4       33.6        8.9     16.4      25.3
    Income tax
     (benefit)
     provision          (0.2)   12.4       12.2        3.2      6.0       9.2
    Net income          $1.4   $20.0      $21.4       $5.7    $10.4     $16.1

    Earnings per
     share:
      Basic            $0.02              $0.31       $0.09             $0.24
      Diluted          $0.02              $0.30       $0.09             $0.24
    Weighted average
     shares
     outstanding:
      Basic             69.0               69.0        65.6              65.6
      Diluted           70.3               70.3        66.5              66.5