Jarden Corporation expects revenues of at least $1.65 billion for the fourth quarter of 2010 and approximately $6.0 billion for the full year, according to preliminary results released Monday.
Jarden did not break out preliminary figures for its Outdoor Segment, which was on track to generate about $2.6 billion in revenue in the third quarter, or abut 39% of the company's sales. The Outdoor segment owns the Abu Garcia, Coleman, K2, Marker, Marmot, Penn, Rawlings, Shakespeare, Stearns, Volkl and Zoot brands. The company's other two business segments make a wide variety of consumer products, including countertop kitchen appliances like coffee makers, smoke and carbon dioxide detectors, playing cards, baby care and other products.
The record performance is based on continued strong organic revenue growth and contribution from acquisitions. Full year cash from operations is expected to exceed $250 million.
“The quarter's strong performance is the culmination of what was an outstanding year for Jarden,” said Chairman and Chief Executive Officer Martin E. Franklin. “The improving consumer environment combined with the investments made in the business and the tuck-in acquisitions completed throughout the year resulted in record sales and segment earnings performance. We look forward to providing additional insight and analysis on our scheduled earnings conference call in February.”
