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Jarden Reports Q2, First Half Sales Gains

Jarden Corporation today reported second quarter net sales of $1.76 billion, compared to $1.68 billion for the comparable 2012 period, an increase of 4.7%. The company’s gross margin declined slightly from 29.6% in the second quarter of 2012 to 29.2% for the most recent quarter, ended June 30th.

Net income for the quarter was $76.4 million, compared to net income of $83.2 million for the second quarter of 2012.

“Jarden delivered a solid second quarter with strong organic sales growth, particularly in our Consumer Solutions and Branded Consumables segments,” said Martin E. Franklin, Executive Chairman at Jarden Corp.  “Our diversified portfolio of category leading consumer brands continues to provide a powerful platform from which to execute our growth strategies and deliver consistent, profitable growth. Our performance during the first half keeps us firmly on the path to deliver our 2013 top and bottom line guidance.”

For the first six months of 2013 the company reported net sales of $3.34 billion, up from $3.17 billion in the first half of 2012. The company’s net income for the first half of 2013 was $72 million, compared with net income of $118.3 million for the first half of 2012. Gross margin remained relatively unchanged.

“I am pleased that the diversity of our businesses allowed us to deliver another strong quarter while navigating volatile weather conditions that impacted sales and reorders on certain higher margin categories,” said  James E. Lillie, Jarden Corp. CEO, said. “While we remain focused on delivering our 2013 financial goals, we are also working towards our next three to five year plan to continue to drive shareholder value. This past week our senior management teams from around the world attended our annual long-range strategic planning meeting. Our businesses are focused on growth, innovation, margin and working capital improvements while investing in processes, people and products to help ensure our continued long-term success.”