Jarden Corp. said sales at its Outdoor Solutions segment, which owns Coleman, Campingaz, Marmot, Penn, Rawlings, Shakespeare, Stearns, Volkl, Zoot and other team and outdoor sporting goods brands, reached $604.7 million in the third quarter ended Sept. 30, up 6.9% from the same period a year ago.
Operating earnings at the business reached $68.6 million, up 8.2% from $63.4 million a year earlier. For the first nine months of the year, Outdoor Solutions sale reached $1.91 billion, up 6.1% from $1.80 billion for the nine months ended Sept. 30, 2009.
“Our third quarter results, which were led by another solid performance in our Outdoor Solutions and Consumer Solutions segments, once again demonstrate that Jarden continues to execute well in the current macro environment,” said Martin E. Franklin, chairman and CEO of Jarden Corporation. “Overall organic sales for the quarter increased more than seven percent. Notably, we achieved record segment earnings as consumers continued to turn to Jarden's portfolio of leading brands and innovative products.”
Franklin said that based on current trends, organic top-line growth will continue in 2011 within Jarden's 3-5% long-term range.
In the meantime, the company will focus on continuous operational improvement initiatives, new product introductions and pricing to partially offset the cost increases experienced in 2010.
