Wednesday October 30th, 2013 - 4:54PM
Jarden Corporation today reported organic net sales gains of 5.6% or $96 million for the third quarter of 2013. The company’s total net sales for the quarter were $1.8 billion, compared to $1.7 billion for the comparable year-earlier quarter.
"During the third quarter, we maintained our momentum from the first half of the year, reporting organic sales growth faster than our 3-5% targeted long-term average organic growth, record earnings, and adjusted diluted earnings per share growth of 16% versus the prior year quarter," said Martin E. Franklin, executive chairman. "The quarter also marked an exciting time in our history with the announcement of the Yankee Candle acquisition. We expect the strength of our Jarden businesses and the accretive acquisition of Yankee Candle to help continue our positive performance trends."
The company’s net income for the quarter was $94.9 million, compared to $76.9 million for the same period in 2012.
For the first nine months of the year the company reported net sales of $5.1 billion, compared to $4.9 billion in net sales for the comparable 2012 period. The company’s net income was $166.9 million, compared to $195.2 million for the same period in 2012.
"I am pleased with the performance of our business in the third quarter. Broad based business strength drove our top line performance and SG&A control has translated into overall EBITDA margin expansion in the quarter,” said James E. Lillie, CEO. “The diversity of Jarden's business continues to help us maximize growth opportunities and at the same time, minimize dependence on any single brand, product, retailer, or region. We continue to make positive progress both in our core business, as well as on the planning and integration activities surrounding our recent acquisition of Yankee Candle."