Jarden Corp’s Outdoor Solutions segment saw sales rise 9.1% to $695.8 million for the second quarter ended June 30 from $637.8 million in the year-ago period. Sales were primarily driven by increases from Coleman, both domestically and internationally, as well as Pure Fishing. Operating income for the Outdoor division jumped 43.0% to $97.7 million from $68.3 million in the prior-year period.
Overall, Jarden Corp. second quarter net sales increased 21.9%, with organic growth of 8.7%, to $1.5 billion compared to $1.3 billion for the same period in the previous year. Jarden recorded net income of $38.4 million, or 43 cents per diluted share, compared to net income of $44.9 million, or 53 cents per diluted share, for the same period in 2009. On a non-GAAP basis, adjusted net income for the three months ended June 30, 2010 was $74.7 million, or 83 cents per diluted share, compared to $51.4 million, or 60 cents per diluted share, for the same period in 2009.
Jarden has recently experienced a good deal of exposure through its contracts with Major League Baseball. This year’s All-Star Game featured the Rawlings S-100 pro-batting helmet. Twenty-four of the league's best major league players were wearing the new, sleeker helmet design to protect players from wayward of 100 miles-per-hour fast balls. This was in addition to the 23 All-Stars, including Derek Jeter, Albert Pujols, and Tim Lincecum, who were also wearing Rawlings gloves.
Jarden Team Sports also signed an exclusive multi-year licensing agreement with the National Football League under the “Real Brands for Real Fans” tagline. The deal consolidates a number of tailgating items, including coolers, stadium seats, and a series of other products under brands from across each of Jarden's business segments, including Coleman, Rawlings, Bicycle, Crock-Pot, and Shakespeare. The agreement is expected to produce incremental sales of approximately $20 million.
