Jarden Corporation, parent company to Coleman, reported that net sales for the third quarter increased 10% to $1.0 billion compared to $938 million for the same period in the previous year. Net income was $51.3 million, or 78 cents per diluted share, in the period, compared to $24.0 million, or 40 cents per diluted share, in the third quarter of 2005.
Sales in the Outdoor Solutions division, which includes Coleman, declined 2.7% to $208.4 million for the quarter compared to $214.1 million last year. This $5.7 million decline in sales at Coleman was due to over $12 million of hurricane-related sales in Q3 of 2005 not being repeated in 2006. Excluding the hurricane-related sales last year, Coleman sales would have increased roughly 3% for the quarter.
Operating profits for the outdoor solutions segment decreased 10.5% to approximately $12.8 million for the period compared to $14.3 million last year.
Jarden management said they are expecting “good margin expansion” for Coleman in 2007, some of it is on the back of new products, some on the back of new distribution, and some on the back of continued growth.