Jarden Corporation, which owns Coleman, K2, Rawlings and other sporting goods brands, expects revenue of $1.72 to $1.74 billion for the fourth quarter of 2011 and approximately $6.68 billion for the full year, according to preliminary estimates it released Tuesday.



Earnings from the companies three segment are expected to reach $205 to $210 million and $785 to $790 million for the fourth quarter and the full year, respectively.

 

In addition to its normal adjustments for intangible amortization and effective tax rate, the company expects to record non-cash charges of $50-$55 million in the fourth quarter primarily associated with the impairment of intangible assets within its Branded Consumables segment. Additionally, net reorganization and other charges of $25-$30 million are expected to be recorded in the fourth quarter. Cash flow from operations is expected to be over $400 million for the full year, with cash on hand of over $800 million at year end.


The company noted that the financial results are preliminary and subject to the completion of its year-end audit process. Jarden plans to discuss its fourth quarter and full year 2011 results and the outlook for 2012 on its earnings conference call scheduled for Feb. 15, 2012.

“Based on preliminary results, our record fourth quarter performance capped off another record year for Jarden in terms of both revenue and segment earnings, despite the mild weather experienced in the fourth quarter,” said Martin E. Franklin, executive chairman of Jarden.



Jarden also announced it will suspend its dividend following its January distribution payment and instead accelerate its stock buy-back program in a move designed to better reward its shareholders.


 

“We were pleased that we continued to build on our solid performance in 2011 to deliver strong results during the fourth quarter, despite macro concerns and the unseasonably warm weather,” added Jarden CEO James E. Lillie. “As we have stated before, in any given year unusual weather patterns can negatively impact many of our 'seasonal staples' businesses. Despite the late start of winter weather this season, it is too early to predict the impact, if any, on 2012. We look forward to discussing our 2011 results and the outlook for 2012 in more detail on our year-end earnings conference call, which will occur prior to completion of the tender offer.”

Jarden Corp.’s Outdoor Solutions brands include: Abu Garcia , Aero , Berkley , Campingaz  and Coleman , ExOfficio , Fenwick , Gulp! , K2 , Marker , Marmot , Mitchell , Penn , Rawlings , Shakespeare , Stearns , Stren , Trilene , Volkl  and Zoot. Headquartered in Rye, N.Y., Jarden ranks #379 on the Fortune 500 and has over 25,000 employees worldwide.