Jarden Corp. reported sales in its Outdoor Solutions group, which includes Coleman, Rawlings, K2 and several fishing brands, dipped 0.2 percent to $753.3 million in the second quarter ended June 30 compared with the same quarter a year earlier. Segment earnings fell 15.2 percent to $84.9 million from $100.2 million in the year earlier quarter.

Adjusted to include restructuring costs, acquisition-related items and depreciation and amortization, Outdoor Solutions operating earnings slid to $64.2 million, down 18.8 percent from $79.1 million.

The Outdoor Solutions segment includes Abu Garcia, AeroBed, Berkley, Campingaz and Coleman, Dalbello, ExOfficio, Fenwick, Greys, Gulp!, Hardy, Invicta, K2, Marker, Marmot, Mitchell, Penn, Rawlings, Shakespeare, Squadra, Stearns, Stren, Trilene, Völkl and Zoot.

Jarden Corp., which also makes small kitchen appliances, cleaning products, First Alert alarms, playing cards and a host of other branded consumer products at its two other segments, reported overall organic net sales grew 7.0 percent to $2.01 billion for the second quarter 2015 and $1.98 billion for the same period in 2014.

The company's other financial highlights for the quarter included:

  • Reported gross margin of 30.3 percent, compared to 30.5 percent for the same period in 2014
  • Net income of $85.9 million for second quarter of 2015, compared to net income of $52.1 million for the same period in 201
  • Earnings per share of $0.44 per diluted share for second quarter 2015, compared to earnings of $0.28 per diluted share for the same period in 2014
  • Adjusted gross margin of 31.0 percent, compared to 30.8 percent for the same period in 2014
  • Adjusted net income of $116 million in the second quarter of 2015, compared to $116 million for the same period in 2014
  • Adjusted earnings per share of $0.59 per diluted share in the second quarter of 2015, compared to $0.62 per diluted share for the same period in 2014

“We are pleased to announce another quarter of record net sales and record segment earnings,” said Martin E. Franklin, executive chairman. “The business continues to perform in line with our expectations.
Jarden authentic brands, supported by innovation and a robust
operational platform, continue to drive our performance. We look forward
to completing our acquisition of Waddington Group as we move through
the third quarter and to leveraging revenue synergies with them across
our Branded Consumables segment in the years to come.”

James E. Lillie, CEO, said “Our positive momentum has continued and we are pleased with our progress year-to-date. Posting second quarter organic growth of 7.0 percent and a six-month organic growth rate of 5.9 percent further affirms our comfort with meeting or exceeding our goal of 3 percent-5 percent average organic annual growth and double digit adjusted earnings per share growth, on a currency-neutral basis. It was particularly encouraging that this positive momentum was broad based with each of our segments reporting healthy organic growth.”

All earnings per share and shares outstanding amounts have been adjusted to reflect the effect of the 3-for-2 split of the company's outstanding shares of common stock that occurred during the fourth quarter of 2014. 

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/
Unallocated

 Consolidated 

 Three months ended June 30, 2015 

 Net sales 

$     677.3

$     473.6

$     753.3

$     124.6

$     (23.1)

$  2,005.7

$           –

$     2,005.7


 Segment earnings (loss) 

$     115.9

$       64.2