Jarden Corporation said fourth-quarter revenue and operating profits related to its winter sports business were in line with expectations.
“Based on our current outlook and initial performance for the first quarter of 2008, we anticipate a healthy finish to the 2007/2008 winter sports season and overall organic revenue growth in our Outdoor Solutions segment in the first quarter of 2008,” said Martin E. Franklin, chairman and CEO.
Franklin said he felt it appropriate to comment on the quarter given recent earnings-related announcements by other winter sports companies.
“We continue to believe our portfolio of market leading brands throughout Jarden creates opportunities for growth, even in the face of tougher macro economic conditions,” he said. “The strong early snow conditions, particularly in North America where we have our largest market share, in addition to our innovative product lines, have created the positive momentum in our winter sports business. In the same way that the poor 2006/2007 snow conditions created an overall reduction in 2007/2008 winter sports sales, we believe that the positive momentum in our business for the 2007/2008 season bodes well for the sell-in for the 2008/2009 season.”
Mr. Franklin concluded, “While the audit of our 2007 results will not be complete until we fully announce earnings on February 14, 2008, we remain comfortable with the Analysts' estimates for as adjusted EPS for fourth quarter and the full year 2007.”
