Thursday February 14th, 2013 - 9:39AM
Jarden Corp. reported net sales for the fourth quarter, ended December 31, 2012, of $1.82 billion compared to $1.74 billion for the same period of 2011, a gain of 4.5%. For the period, the company reported gross margin increased 130 basis points to 27.9% compared to gross margin of 26.6% for the same period in 2011.
The company reported net income increased approximately 131% to $48.7 million compared to $21.1 million for the same period in 2011.
For the full year 2012 reporting period, the company reported net sales of $6.7 billion, essentially flat. Gross margin increased 90 basis points to 28.7% compared to gross margin of 27.8% for the same period in 2011. Net income increased approximately 19% for the full year to $243.9 million compared to $204.7 million for the same period in 2011.
"During 2012, Jarden once again delivered record revenues, segment earnings and adjusted earnings per share, and finished the year with a record level of cash," said Martin Franklin, executive chairman of Jarden Corp. "We are also proud to have been among the top five performing stocks compared to the S&P 500 Consumer Staples Index for 2012 on a one-, five- and 10-year basis. Looking forward, we believe there are many exciting opportunities for Jarden to continue to deliver long-term growth and expand profitability based on the strength of our diversified portfolio of leading brands, new product introductions and the hard work and dedication of our employees."