Jarden Net Jumps 379 Percent in Fourth Quarter
February 17, 2011,
RYE, N.Y.-In what the company described as record results for the fourth quarter and full year, Jarden reported net income in the final 2010 quarter of $46.7 million, up 379 percent over the fourth quarter of 2009.
Last year's fourth-quarter bottom line included a charge for costs related to a company reorganization and to the integration of acquisitions. Without this charge, Jarden's net would have been $31 million.
Gross margin was flat at 27.3 percent.
For all of 2010, net income totaled $106.7 million, down 17 percent from fiscal 2009. Net sales were $6 billion, an increase of 17 percent. Martin Franklin, Jarden's chairman and chief executive officer, said the sales gain included organic sales growth of seven percent for both the year and the fourth quarter, ahead of the company's goal of three to five percent organic sales growth for both periods.